In the dynamic and ever-evolving world of construction, Saudi Arabia stands as a beacon of innovation and growth, captivating the global community with its accelerated and transformative projects and initiatives.
Honouring its indisputable progress and celebrating a collective of booming industries, Construction Week Saudi proudly presents, for the first time since its launch, The Builder’s 30 Elite, a distinguished board-list of the top 30 visionary leaders whose insights and expertise are heeded by builders across the kingdom’s construction sector.
This power list of ground-breakers and thought-leaders features individuals from construction, architecture, engineering, infrastructure, real estate, and destination development, highlighting the most recent updates and decisions that contributed to their inclusion.
The selection process adopted for this list looked at notable achievements, the nominees’ commitment to social responsibility, sustainability and employee development, ensuring that it truly represents the pinnacle of vision and execution in the current build-environment sphere.
Relying on responses, expert opinions, publicly available information, and industry engagement, the editorial team meticulously decided the final list included in this edition. While each individual featured here deserves a forefront position for this collection, The Builder’s 30 Elite power list is a curated compilation, not a ranking, and was arranged according to sequential availability.
The original list was part of Construction Week Saudi’s Volume 6 issue. For more exclusives, you can read the cover story and the full digital magazine here.
The Builder’s 30 Elite (2023)
Mohammad AlButy – CEO, National Housing Company (NHC)
Under the leadership of Mohammad AlButy, the National Housing Company (NHC) acts as a catalyst for realising the kingdom’s strategic housing vision. By actively engaging the private sector and promoting professional excellence throughout the real estate market, NHC paves the way for its own sustainable future while simultaneously strengthening the entire real estate ecosystem. This collaborative approach opens exciting new avenues for growth and ensures a vibrant housing landscape for the kingdom.
NHC has been actively engaged in developing housing projects across Saudi Arabia over the past year. Currently, the company boasts ongoing residential developments in major cities like Riyadh, Jeddah, Dammam, Medina, Qassim, Tabuk, Safwa, and Khamis Mushait, expanding its reach and diverse offerings within the communities it serves.
Moreover, the company has announced a groundbreaking partnership with Talaat Moustafa Group (TMG), a renowned Egyptian urban developer, to build a $10.7 billion (SAR40 billion) smart, integrated, and sustainable city east of Riyadh.
Nestled within a 10 million square metre canvas, the new city project will offer a harmonious blend of modern living and verdant landscapes. Sprawling across 40% of the area, expansive green spaces will provide residents with ample opportunity for recreation.
This mixed-use development will cater to diverse needs, encompassing approximately 27,750 housing units ranging from spacious villas and family-friendly units to apartments of varying sizes. Residents will have access to a wealth of integrated services, including healthcare facilities, educational institutions, vibrant commercial spaces, a sports club, and essential public service areas, ensuring a holistic and fulfilling lifestyle.
Leveraging your company’s extensive experience, what are some significant successes from the past year that stand as testaments to your ambitious vision?
The National Housing Company was established in late 2016 as one of the initiatives of the Housing Program to be an investment and executive arm of the Ministry of Municipal and Rural Affairs and Housing. They were meant to contribute to the development of an integrated housing environment and sustain the ministry’s resources and reduce reliance on the state budget in line with the goals of Vision 2030.
In 2023, our company made significant contributions to the housing sector, marked by the launch of over 300 diverse housing projects catering to individual and family needs. We partnered with over 150 developers to ensure the availability of affordable housing options. Over 140,000 units were delivered to the market, with 17,000 specifically dedicated to social housing initiatives. Additionally, we handed over more than 30,000 units to their respective owners.
Our efforts extended further, facilitating over 717,000 contracts and driving increased housing ownership across the kingdom. We also prioritised quality of life by incorporating green spaces (averaging 50% coverage) and other amenities within our projects.
Furthermore, we developed user-friendly platforms like Sakani and Ijarah to streamline housing access and management. Additionally, the Mullak platform provided support for property owners, while Farz facilitated efficient land zoning.
What are your aspirations for the company’s future and the broader industry landscape?
Our main aspirations focus on facilitating home ownership for Saudi citizens, promoting innovation and sustainability, and contributing to the achievement of the broader goals of the real estate sector and Vision 2030. We aim to lead the development of the smart community, establish strong partnerships between the public and private sectors, and diversify our real estate portfolio.
Financial viability, transparency, and a customer-focused approach are also of paramount importance, and we aspire to create a positive impact on the real estate development sector, commit to global best practices while promoting social responsibility and continuous improvement.
NHC provides a diverse range of residences thoughtfully located within thriving urban centres throughout the kingdom. We are dedicated to developing high-quality suburbs and residential communities that adhere to the most stringent international standards.
Sustainability forms the core of our design philosophy, reflected in the generous allocation of green spaces seamlessly integrated with essential facilities and services. This unwavering commitment fosters comfortable and fulfilling environments that residents are proud to call home.
David Grover – Group CEO, ROSHN
David Grover, the Group CEO of ROSHN, a prominent real estate giga-developer in Saudi Arabia, is well-acquainted with prestigious rankings. Boasting nearly 35 years of industry experience, Grover has a wealth of expertise in overseeing the execution of intricate, large-scale projects within the realm of master-planned developments. In his capacity, Grover plays a pivotal role in ROSHN’s dedication to fulfilling Saudi Arabia’s Vision 2030 objective of achieving 70% home ownership in the kingdom.
ROSHN strives to realise this goal by developing contemporary and sustainable communities that offer residents exceptional city experiences. These communities are designed to provide smart, human-centric facilities and services, while also making positive contributions to the local business environment.
During the latter half of 2023, the company entered into four significant commercial partnerships, amounting to a combined value exceeding $2.4 billion (SAR9 billion). These partnerships encompassed a range of construction, infrastructure, and fittings services provided by both domestic and international companies, supporting ROSHN’s development projects throughout the kingdom.
Currently, ROSHN is actively delivering five distinct communities, namely ALFULWA, the inaugural integrated community in the Eastern province, as well as WAREFA and SEDRA in Riyadh, and ALAROUS and MARAFY in Jeddah.
The WAREFA community construction officially kicked off in October 2023, marked by a groundbreaking ceremony graced by the presence of HRH Faisal bin Bandar bin Abdulaziz Al Saud, Governor of Riyadh. Shortly after this event, the company announced the commencement of sales for units within the WAREFA community at its dedicated sales centre.
Among its year-long accomplishments, ROSHN also secured the BSI Kitemark for Smart Cities, becoming the first company in the vast region encompassing India, the Middle East, Turkey, and Africa to achieve this distinguished recognition. This prestigious certification validates ROSHN’s unwavering dedication to sustainability, placing it at the forefront of responsible developers on a global scale.
Nadhmi AlNasr – CEO, NEOM
In addition to being the CEO of one of the most impressive projects in the world, NEOM, Nadhmi AlNasr is a seasoned engineer and accomplished leader renowned for his successful management and execution of ambitious industrial projects within the kingdom.
Having held leadership positions at prominent Saudi companies such as Saudi Aramco, AlNasr’s expertise play a direct role in materialising Saudi Arabia’s $500 billion (SAR1.9 trillion) gigaproject.
Scheduled to open its initial phase in 2024, NEOM, a blueprint for the cities of tomorrow, took off in 2023 with a flurry of strategic partnerships across key sectors, including hospitality, logistics, operations, energy, and entertainment. Substantially advancing its established destinations – The Line, Oxagon, Sindalah, and Trojena – allowed the company to unveil a new destination towards the end of the year.
Set on the Gulf of Aqaba coast, the Leyja ecotourism destination will be home to three world-class and intelligently-designed hotels, meant to complement the region’s natural scenes, operate sustainably, and provide distinct experiences. The destination will build on NEOM’s ongoing commitment to support the kingdom’s efforts to build a strong and responsible tourism industry by preserving 95% of its area for nature.
Expanding its portfolio, the company introduced two new destinations: Epicon, a luxurious coastal haven with two striking hospitality and residential towers, and Siranna, an exclusive ultra-luxury retreat offering an innovative blend of elegance within its 65-key hotel and 35 residences.
Reinforcing its commitment to sustainable growth, NEOM launched the NEOM Investment Fund (NIF) in October, a wholly owned entity that will spearhead the investment and development of NEOM’s 14 key sectors, generating lasting economic value and creating significant job opportunities within the project.
Bill Ernest – CEO, Saudi Entertainment Ventures (SEVEN)
Bill Ernest, a seasoned professional with over 20 years of navigating the global entertainment landscape, leads Saudi Entertainment Ventures (SEVEN). His expertise, honed across theme parks, resorts, and international operations, was instrumental in Disney’s Asian expansion. Today, Ernest contributes to Saudi Arabia’s own entertainment revolution.
2023 saw SEVEN develop Saudi Arabia’s entertainment scene with four major projects. Tabuk’s $267 million (SAR1 billion) vibrant canopy destination led the charge, followed by AlMadinah’s $347 million (SAR1.3 billion) entertainment project. A $292 million (SAR1.1 billion) Yanbu destination was announced later in the year, while Aseer’s $350 million (SAR1.3 billion) adventure and eco-tourism destination completed the quartet.
The company has plans to invest $13.3 billion (SAR50 billion) to develop 21 integrated entertainment destinations with over 150 innovative attractions, in partnership with prominent international brands, across 14 cities in Saudi Arabia.
John Pagano – Group CEO, Red Sea Global
John Pagano is the Group CEO of Red Sea Global (RSG), leading the two ambitious Saudi tourism projects, the Red Sea destination and Amaala. With nearly 40 years of experience in large-scale developments, Pagano oversees RSG’s growth and drives its vision for luxury regenerative tourism as the gigaproject embodies a solution for climate change and a shield for biodiversity.
In 2023, RSG made impressive progress towards its masterplan’s first phase, marking the year with numerous achievements.
From the ceremonial opening of the Red Sea International Airport to signing crucial development, infrastructure, and operation contracts for both destinations, the company launched several subsidiaries and saw the complete installation of Saudi Arabia’s largest off-grid electric vehicle charging network.
The gigaproject developer has also managed to grab international certificates for its sustainability and safety initiatives throughout the year. Notably, achieving Platinum LEED v4.1 Cities for Plan and Design from the USGBC, and receiving the highest level of recognition from The KPI Institute for integrated performance excellence, becoming the first company worldwide to hold the distinction.
Olayan M. AlWetaid – Group CEO, stc
Olayan AlWetaid, a seasoned veteran with over two decades of navigating mergers & acquisitions, investment banking, and consulting, steers stc, the Middle East’s top telecom player, towards hypergrowth. His strategic manoeuvres have not only propelled the company’s expansion, but also set a high bar for innovation and future-proofing in the region’s telecom landscape.
Building on its leadership in smart infrastructure and communications, stc has signed a strategic partnership with giga-developer Red Sea Global (RSG) to facilitate digital transformation and empower tourist destinations along the Red Sea coast. The company has also partnered with the Diriyah Company to elevate the technological capacity within the cultural tourism destination.
Furthermore, it was announced that stc will be one of the solution-providers for the Tonomus digital communications facility, which aims to empower NEOM’s networks to keep pace with future demands, and support next-generation, automated technologies.
Meshaal Bin Omairh – Group CEO, Abdullah Al Othaim Investment Company
Meshaal Bin Omairh is the Group CEO of Abdullah Al Othaim Investment Company. He boasts an impressive 27-year career in finance, navigating the complex landscapes of multinational and multi-divisional companies. His track record is demonstrably one of success, marked by progressively increasing responsibilities and a consistently motivational approach.
His leadership experience includes roles as Chief Executive Officer and Board Member of Mohammad Abdulaziz Alrajhi & Sons Investment Co. from 2018 to 2021, and Acting Chief Executive Officer of Manafea Investment from 2019 to 2021.
In addition to being a retail giant, Al Othaim Investment Company, a top 50 Gulf real estate developer in 2023, is a multi-faceted force in Saudi Arabia’s development. With 12 commercial complexes, including four Al Othaim Malls across the Eastern Province and two in Riyadh, the company’s reach extends to Qassim, Hail, and Arar.
Al Othaim also holds interests in hospitality, real estate, entertainment, cinema, fashion, and more, with 23 diverse projects currently shaping the kingdom’s future. The award-winning Kunooz in Riyadh stands as a testament to their innovative vision.
What are some of the key achievements and contributions of Al Othaim Investments in 2023?
For over 20 years, Al Othaim Investments has strived to be a beacon of innovation, development, and economic prosperity in Saudi Arabia. We’re known for our pioneering spirit, and we’ve built an impressive portfolio in retail, F&B, entertainment, residential, and commercial complexes, creating spaces that not only redefine shopping experiences but also serve as the heart of vibrant, connected communities.
As a pivotal player in Saudi Arabia’s Vision 2030, we’re committed to amplifying the nation’s socio-economic landscape and enriching individual lives. We’ve delivered projects worth a staggering amount—a testament to our dominant presence and unwavering dedication.
Over 2023, we achieved significant milestones by implementing our strategy and laying the groundwork for an even stronger expansion. We forged strategic partnerships with esteemed entities like the Tourism Development Fund, the Quality of Life Programme, and the Ministry of Municipal and Rural Affairs and Housing, solidifying our commitment to holistic growth and collaboration.
Our recent projects have significantly elevated our portfolio. We launched Konoz Riyadh, a billion-dollar fully integrated community featuring commercial offices, entertainment, retail, F&B, cinema, a luxury hotel with serviced apartments, and premium residential spaces. Konoz Riyadh embodies our dedication to sustainability, with 15,000m2 of green areas aligned with the green Riyadh city initiative.
We’ve also unveiled Al Othaim Mall in Jubail and Mithneb, Al Othaim Complex in North Riyadh, and expanded Rabwah Mall and Khurais Mall in Riyadh. Additionally, we’ve initiated mixed-use developments in Madinah and Khamis Mushait. Each of these projects is strategically located and features state-of-the-art designs, reflecting our commitment to creating spaces that are not only functional but also visually appealing and seamlessly integrated into their surroundings.
Furthermore, we proudly marked a new chapter in Hail with the groundbreaking of Al Othaim City Centre, one of our major developments which represent a key piece of our expansion strategy, solidifying our position as a leader in integrated development projects that nurture hospitality, tourism, entertainment, and shopping experiences.
The project offers 48,000m2 of prime rental space and 7,000m2 of open-air possibilities, featuring international-standard hotel, diverse shops, a delectable array of restaurants, exciting entertainment options, a state-of-the-art cinema, open-air sports shops, and a convenient supermarket.
Driven by a passion for excellence, our vision is to be the region’s premier destination for living, shopping, and entertainment. We believe in building communities that uplift the quality of life and foster vibrant, enjoyable experiences for all. This commitment extends beyond our commercial endeavours; we actively engage in social responsibility through a spectrum of programs and activities, including Abdullah Al Othaim’s generous donation to Jood Housing and consistent contributions to over 100 charity organisations.
Jayne McGivern – CEO, Sports Boulevard Foundation
Jayne McGivern is the CEO of the Sports Boulevard Foundation, the company that is currently delivering one of the ‘Quality of Life’ gigaprojects, the Sports Boulevard. With more than 35 years of experience in the construction industry, she is a highly accomplished executive known for her expertise in managing large-scale infrastructure projects.
Her excellence in leading urban redevelopment initiatives, as well as her proven track record in successfully delivering major venues, have qualified her to take on the ambitious delivery of one of the largest linear parks in the world.
Spanning over 135km of regenerative development, the Sports Boulevard is a transformative project reshaping Riyadh’s northern landscape. The project includes 4.4 million square metres of greenery and open spaces, more than 60 multidisciplinary sports facilities, and more than 20 artistic landmarks, in addition to several activity zones, and investment zones with an area exceeding 2.3 million square metres.
The project is designed to promote healthy lifestyles and foster a thriving community, going beyond the simple establishment of athletic facilities. Embracing the principles of the Salmani Architectural code, it seamlessly integrates modern architecture with traditional design elements, creating a harmonious and inspiring environment.
Upon completion, the Sports Boulevard will connect the city from East to West moving along Wadi Hanifa and reaching further into Banban via eight distinct districts with diverse designs and concepts dedicated to art, entertainment, culture, and different sports.
Launched by His Majesty King Salman Bin Abdulaziz, the Custodian of the Two Holy Mosques in 2019, and supported by His Royal Highness Prince Mohammed Bin Salman, the Crown prince and Prime Minister, the project has the goal of making Riyadh one of the top 100 cities in the world by 2030.
Mohamed Saad – President, Diriyah Development Company (DevCo)
A seasoned development professional with 20 years of experience steering major retail-oriented infrastructure projects across the Middle East, Mohamed Saad currently leads master planning and construction efforts for Diriyah’s 14 square kilometre mixed-use development.
With the weight of building the $63.2 billion (SAR237 billion) gigaproject on his shoulders, Saad is diligently translating vision into reality as President of DevCo, the construction arm of the Diriyah Company.
This landmark endeavour, aspiring to become the kingdom’s premium historic-tourism destination, is pushing ahead with its second phase, prioritising residential and hospitality offerings in addition to retail and cultural zones across 13 unique districts.
Following the successful launch of its first major assets, the UNESCO World Heritage Site At-Turaif district, the vibrant fine-dining destination Bujairi Terrace and the Diriyah Sales Centre, Diriyah is poised for further expansion. With numerous contracts awarded throughout 2023, new additions to the project are expected soon.
With plans to bring over 28 international hotels and more than 18,000 luxurious Najdi residential units to Diriyah, the destination has announced some of its partner brands. On the hospitality side, is Bab Samhan, a Luxury Collection Hotel by Marriott.
Designed in the Najdi style and boasting panoramic views of Wadi Hanifa, the property will be prepared to welcome guests in 135 rooms and suites. And adding to the prestigious offerings, the Ritz-Carlton Residences are set to join Diriyah with a collection of 106 luxury villas crafted in the region’s traditional architectural style.
Through the strategic collaboration of local and international experts, coupled with the utilisation of cutting-edge technology, the company propels the delivery of this significant regeneration project. Upon completion, Diriyah is anticipated to inject $19 billion (SAR70 billion) into the Saudi economy and create 178,000 future jobs.
David Henry – CEO, Mohammed Bin Salman Nonprofit City
With David Henry, a seasoned pioneer with over 40 years of experience in property development, at the helm, Prince Mohammed bin Salman Nonprofit City takes shape as a global incubator for tomorrow’s innovators and their bold ideas.
The year 2023 marked a period of substantial growth and forward movement for the Nonprofit City. Witnessing the launch of its first series of premium Grade (A) corporate office buildings, the city laid the groundwork for a thriving business ecosystem. Set alongside the Salmani-inspired Al Mishrak zone, the city’s second largest area, featuring vibrant retail, food and beverage, leisure, and entertainment options for 24/7 within a walkable urban environment.
The city is also set to expand its hospitality offerings thanks to an agreement with IHG Hotels & Resorts for a new Hotel Indigo, which is set to open 234 guestrooms and suites, as well as 138 serviced apartments in 2025.
Education, the cornerstone of building a brighter future, also received significant focus in 2023. The city entered into a collaborative agreement with Le Cordon Bleu Arabia Educational Institute for Culinary Arts, ensuring the future generation will have access to exceptional culinary training within the city’s boundaries.
Building upon this dedication to fostering future leaders, the year also saw the launch of the “ilmi” science and technology centre, a partnership with the Mohammed Bin Salman Foundation “Misk.” On the entertainment front, the company signed an agreement with muvi Cinemas, Saudi Arabia’s homegrown cinema brand and the country’s largest theatre operator, to open a new cinema experience in the Al Mishrak zone.
Amr Almadani – CEO, Royal Commission for AlUla
Amr AlMadani, CEO of the Royal Commission for AlUla (RCU), is a visionary leader with a proven track record of turning ideas into thriving businesses. He possesses a unique combination of entrepreneurial spirit and operational excellence, demonstrated by his success in founding and scaling start-ups across diverse sectors.
Under his leadership, AlUla has become an attractive tourism destination, contributing strongly to the kingdom’s economic and job markets. With many projects set for the coming years, AlUla’s potential as an international tourism destination has not been realised yet.
In September, the Royal Commission for AlUla unveiled the second masterplan for central and southern AlUla, charting a course for the region’s future. This ambitious plan prioritises improving quality of life and igniting economic growth through strategic urban development.
Key areas of focus include expanding residential land and facilities, ensuring reliable utility services, enhancing access to healthcare, and promoting sustainable mobility options like cycling and walking. This comprehensive approach will transform AlUla into a thriving and sustainable urban environment, attracting investment and fostering economic prosperity for the region.
Adding to AlUla’s future developments, the region is poised to welcome the luxurious Six Senses AlUla in 2027. This sprawling 1.2 million square metre hotel will be situated amid a scenic natural oasis, surrounded by palm groves and captivating red-sandstone cliffs. Offering 100 guest villas and 25 impressive residences, this addition will further elevate the region’s hospitality landscape.
Furthermore, a strategic three-way agreement between the Saudi Real Estate Company (Al Akaria), AlUla Development Company, and RCU has set the stage for the development of the “Sidrat AlUla” residential project, promising to add another layer of vibrancy and diversity to the region’s burgeoning urban landscape.
Ibrahim Al Alwan – CEO and MD, Saudi Real Estate Company (Al Akaria)
Ibrahim Mohammed Al Alwan boasts over two decades of diverse expertise across the realms of banking, investment banking, and real estate. Presently, he holds a prominent role at Al Akaria as the Managing Director and CEO, alongside serving as the Executive Partner at Watheeq Financial Services Co. Notably, he was a pivotal member involved in the establishment of Kasb Capital Group in 2007, where he held the esteemed position of CEO for a remarkable three-year tenure. He has a degree in accounting from King Saud University.
Throughout his extensive career, Al Alwan has demonstrated a robust skill set in asset management, corporate banking, and real estate, honed through his tenure at esteemed institutions such as alOula, Kasb Capital, Bakheet Investment, SIDF, and various leading Saudi banks.
Under Al Alwan’s guidance, Al Akaria experienced a remarkable uptick in revenue generation. His visionary approach to business operations, coupled with astute decision-making, implemented strategies that effectively capitalised on market opportunities and bolstered the company’s financial standing. Through his leadership, Al Akaria diversified its portfolio, capitalised on emerging market trends, and optimised its revenue streams, resulting in a noteworthy increase in the company’s overall earnings.
Furthermore, Al Alwan’s adept management skills and strategic initiatives played a crucial role in reshaping Al Akaria’s market position. His focus on aligning the company’s objectives with evolving market dynamics enabled Al Akaria to regain its competitive edge and solidify its position as a key player in the industry. His ability to navigate challenges and leverage opportunities effectively contributed to the company’s resurgence, thereby reinstating Al Akaria’s significance within the market landscape.
What strategic initiatives and operational changes propelled the company’s rapid growth in construction, leading to its current market position?
Since our founding in 1976 by royal decree, we at the Saudi Real Estate Company (Al Akaria) have embarked on a journey driven by a future-forward vision. We laid the foundations for multi-use developments, aiming to become pioneers in the real estate sector within the Kingdom of Saudi Arabia.
Today, we stand tall with a vast land bank exceeding 20 million square metres and a diverse tapestry of projects that have transformed Riyadh into an architectural beacon. Our portfolio boasts a wide range of residential, commercial, and recreational projects that cater to the evolving needs of the Saudi community.
We proudly operate under the umbrella of Al Akaria, a leading real estate powerhouse in Saudi Arabia. With four diverse subsidiaries – Mumtalakat, Binyah, Tamear, and Al Widyan – we offer a comprehensive spectrum of services, from developing, operating and selling unparalleled real estate developments, embarking on construction contracting, both infrastructure and general contracting, and providing property and facility management services across all real estate asset classes. Our operations are further bolstered by the significant 64.5% stake held by the Public Investment Fund, Saudi Arabia’s sovereign wealth fund.
Over the past year, we have witnessed remarkable progress in our real estate endeavours, unveiling three major projects: The Reef Compound, Porta Jeddah, and Fai Sedra. These ambitious undertakings signify our commitment to shaping the Saudi landscape and elevating the residential experience as well as boosting the live-work-play through our mixed-use development projects.
Financially, Al Akaria has soared to new heights, achieving a meteoric 99% surge in revenues during 2022. This remarkable growth culminated in a net profit of $38.6 million (SAR145 million), solidifying our position as a force to be reckoned with in the Saudi real estate market.
Strategically, we have embarked on a collaborative venture with Al Tahaluf Real Estate to develop a vibrant residential community as part of the Akaria Park Master Plan in Eastern Riyadh. This partnership exemplifies our commitment to collaborative innovation and the creation of thriving communities that cater to the evolving needs of Saudi citizens.
Looking forward, we are driven by a vision of continued growth and excellence. We strive to leverage our diverse expertise and strategic partnerships to deliver exceptional value to our stakeholders, while contributing meaningfully to the development of the Saudi real estate sector.
How large and intricate is the company’s current delivery capacity? Are there any outstanding examples that demonstrate Al Akaria’s ability to handle challenging or large-scale undertakings?
Currently, we have ongoing construction projects valued at a remarkable $549 million (SAR2.06 billion). These projects include key developments such as Porta Jeddah, Reef Compound, Fai Sedra, Akaria Park, and Olaya Oasis.
The Reef Compound, situated in the Diplomatic Quarter, is a mixed-use community with a predominant residential use that seamlessly blends 231 meticulously designed units. These units, encompassing apartments, townhouses, and villas, are spread across approximately 39,000m2 of land. Cutting-edge communal facilities, with a GFA of around 53,577m2, complement these units.
Porta Jeddah, our contemporary mixed-use project in Jeddah, integrates experiential retail, dining, and entertainment spaces with a lifestyle hotel, serviced apartments, and quality office space. The development boasts a GFA of about 75,964m2, incorporating approximately 238 hotel keys, office spaces with a GLA of roughly 20,983m2, and a 21,119m2 retail promenade.
Fai SEDRA, located within ROSHN’s flagship development SEDRA, comprises 138 villas. These villas span a land area of 44,368m2, with a total built-up area of 54,708m2. ROSHN has partnered with us through a sale and purchase agreement that allows us to develop residential villas within SEDRA.
This collaboration follows a previous announcement of a $38 million (SAR142 million) land sale to the company. The partnership will enhance the variety of premium housing units in the SEDRA masterplan development, transforming northern Riyadh into a blend of integrated, pedestrian-friendly neighbourhoods featuring top-tier amenities.
Sultan AlDeghaither – CEO, Zain KSA
With 19 years of proven expertise in hand, Sultan AlDeghaither steers Zain KSA as its CEO towards the pinnacle of Saudi Arabia’s telecom landscape, his strategic leadership fuelling the company’s strong performance in 2023.
The company has strategically expanded its international partnerships to accelerate the development and implementation of environmentally responsible communication technologies. This collaboration focuses on promoting energy-efficient hardware solutions and the integration of intelligent energy-saving techniques throughout the lifecycle of network equipment.
Furthermore, Zain KSA, in a pioneering move, has partnered with Red Sea Global to launch the world’s first zero-carbon 5G network at the Six Senses Southern Dunes resort. This landmark achievement underscores Zain KSA’s position at the forefront of industry innovation and its commitment to driving meaningful sustainability initiatives within the telecommunications landscape.
HE Al-Shihana AlAzzaz – Chairwoman, Sela
Guided by the leadership of HE Chairwoman Al-Shihana AlAzzaz, Sela surpasses the title of an entertainment company, becoming an active architect of exceptional destinations and events in Saudi Arabia. The company has been a pioneer in the development of experiences across recreational industries, from sports and culture, entertainment and hospitality, to exhibitions and more.
In 2023, Turki Al-Sheikh, Chairman of the General Entertainment Authority, inaugurated Via Riyadh, one of Sela’s destinations, which offers a unique experience with a Salmani-style design. It includes a collection of fine international brands, a five-star St. Regis Riyadh property, and many international restaurants and cafes that are present in the kingdom for the first time.
Gautam Sashittal – CEO, KAFD
Since 2021, Gautam Sashittal has held the position of CEO at KAFD, continuing a career of amassed experience in a range of industries, such as oil and gas, real estate development, free zone regulation and development, trade facilitation, and healthcare, encompassing both the private and public sectors.
Under his leadership, KAFD DMC marked 2023 with significant achievements including securing the Equinox Hotel for Riyadh’s iconic financial hub, and partnering with SSH on a comprehensive design and service package for various projects within KAFD, including hotels, residences, retail, entertainment, and parking.
The year also brought the signing of two major developments with Taj Dhabi, expanding the destination’s offerings with a multi-purpose complex comprising two office towers, and a retail development featuring food and beverage outlets and luxury retail areas.
Majed AlArgoubi – CEO, Saudi Authority for Industrial Cities and Technology Zones (MODON)
Majed AlArgoubi, a seasoned executive with over 23 years of experience, is leading the Saudi Authority for Industrial Cities and Technology Zones (MODON) towards a transformative future. His expertise encompasses a diverse range, including executive management, capital project management, infrastructure and logistics development, and public-private partnerships (PPP) initiatives.
Established in 2001, MODON has been the driving force behind the development and supervision of industrial lands and integrated infrastructure across the kingdom. Today, its influence extends across 36 existing and under-development industrial cities, encompassing both public and private ventures.
These cities are bustling hubs of activity, hosting over 6,587 industrial and investment contracts and supporting more than 4,000 factories at various stages of development. Through its dedication to fostering strategic partnerships, MODON has attracted over $99 billion (SAR370 billion) in investments.
Yasser Abuateek – CEO, Umm Al Qura Development & Construction (UAQ)
As CEO of Umm Al Qura Development & Construction (UAQ), the developer behind the Masar Destination, a $26.6 billion (SAR100 billion) state-of-the-art integrated investment ecosystem with diverse and flexible opportunities located at the heart of Makkah, Yasser Abuateek is one of Saudi Arabia’s distinguished destination creators.
During its participation in Cityscape Global as Destination Partner, the company announced that due to its commitment to enrich the quality of life in Makkah and shaping its future by successfully attracting institutional investment partnerships, it will increase the investment volume for its mega-destination to around $10.7 billion (SAR40 billion).
Major updates for 2023 include the commencement of construction work for the first premiere package of hotel projects with global operators such as Kempinski and the international Taj chain, and completing 96% of the destination’s state-of-the-art infrastructure as of the fourth quarter.
Ahmed AlJuhani – CEO, Rua Al Madinah Holding
Ahmed AlJuhani is the CEO of Rua Al Madinah Holding. His accomplished executive track record extends across more than three decades in a variety of sectors including real estate development, construction and facilities management, housing, tourism, hospitality.
Notable updates for the Rua Al Madinah megaproject in 2023 include the signing of Parsons to manage the main infrastructure works including the tunnel, road, and utility works for the mixed-use development.
On the hospitality front, the company signed an agreement with Marriott International to open eight hotels in Madinah as part of its aims to elevate the service and travel experience for visitors, which will include luxury brands such as The Ritz-Carlton, JW Marriott, and Le Méridien Hotels & Resorts.
The company has also signed an agreement with Accor Group for the operation of multiple premium and luxury hotels, revealing that the partnership will add 1000 rooms within the Rua Al Madinah Project.
Fahad Al Hammad – CEO, Saudi Downtown Company
A seasoned veteran of real estate development, Fahad Al Hammad joined Saudi Downtown Company in 2023, bringing 30 years of expertise to its executive strategy.
Setting its aim to develop sustainable downtown projects and destinations in 12 Saudi cities, Saudi Downtown has signed several major agreements throughout the year to accelerate the progress of its developments. Of these, The Tawal agreement for the development of digital infrastructure and telecommunications towers, and the National Center for Waste Management (MWAN) agreement for the collaboration on relevant waste management programs and initiatives, training, compliance.
Additionally, the company has also signed Memoranda of Understanding with the Gas Solutions Company, the National Water Company, RedSea, Badia Farms Agriculture Company, and finally an MoU with the Ministry of Municipal and Rural Affairs and Housing (MOMRAH) to foster collaboration in implementing urban and architectural design standards.
Sumayah Al-Solaiman – CEO, Architecture and Design Commission
Prior to taking the helm as CEO of the Ministry of Culture’s Architecture and Design Commission, Dr Sumayah Al-Solaiman held the position of Dean of the College of Design at Imam Abdulrahman bin Faisal University, alongside contributing as a member of the Dammam Metropolitan Area Municipal Council.
Established in 2020, the Architecture and Design Commission has rapidly gained momentum in 2023, actively participating in key events and launching initiatives to revolutionise the sector. Aspiring to usher in a new era, the commission aims to develop the industry, contribute to the GDP, nurture talent, achieve global recognition, promote sustainability, and support innovation.
Its newly launched research strategy focuses on developing research infrastructure, fostering a stimulating environment, enhancing research capabilities, and encouraging proficiency within the architecture and design community.
Zakaria Alabdulqader – Chairman of the Board of Directors, Saudi Contractors Authority (SCA)
Zakaria Alabdulqader is regarded as one of the kingdom’s most notable pioneers of the contracting sector. He is a leader in the fields of construction, engineering, and real estate development with an outstanding record spanning over 18 years of implementing and supervising over 100 building and industrial projects throughout the Kingdom of Saudi Arabia.
With his guidance, the SCA launched a series of impactful events in 2023, propelling the Saudi construction sector forward.
These include the Saudi Infrastructure Summit, which drew over 15,000 attendees and more than 275 exhibitions, fostering valuable networking and knowledge exchange, ConFEx 2023, with 50 specialised participants showcasing cutting-edge technologies and driving industry advancement, and the Future Projects Forum, which unveiled an impressive portfolio of over 3,000 projects valued at $267 billion (SAR1 trillion), highlighting the immense potential of the kingdom’s future infrastructure landscape.
Khaled Musaed El-Seif – Chairman, El Seif Engineering Contracting
Driven by the vision of Chairman Khaled Musaed El Seif, El Seif Engineering has sought to redefine construction excellence since 1951. The company’s portfolio stands as a testament to its expertise, featuring architectural marvels like the Kingdom Tower in Riyadh, exceeding 302m, and countless contributions to the King Abdullah Financial District. Its reach extends beyond national borders, with impressive high-rises in Dubai, Doha, and Beirut.
El Seif distinguishes itself by offering a comprehensive suite of services catering to every construction need. From conception to completion, the company provides solutions encompassing general contracting, project management, design and build, procurement and construction (EPC), and even innovative ventures like Public-Private Partnerships (PPPs), Build-Operate-Transfer (BOT), and Operation & Maintenance contracts.
This commitment to innovation and exceptional results has secured the company’s position as a leading force in the industry.
Samer Abdul Samad – President and CEO, Nesma & Partners
Under the leadership of President and CEO Samer Abdul Samad, Nesma & Partners has solidified its position as a leading contracting company in the Kingdom of Saudi Arabia. Abdul Samad’s vision, shared with the organisation in early 2022, builds upon the company’s 40-year legacy as a proud Saudi entity, operating progressively both within the nation and internationally.
Among the company’s completed works in the past 12 months, are the luxurious Ashar Tented Resort in AlUla, various contracts within the futuristic NEOM City, and the multi-story Bujairi Car Park in Diriyah.
It is currently involved in testing and commissioning crucial infrastructure such as Riyadh Metro Line 3 and the Red Sea Airport airside. In addition to that, Nesma is delivering contracts for MASAR Makkah, the Avenues Riyadh mall, and various building and infrastructure packages within the NEOM gigaproject.
Marzouq Al Harbi – CEO, Mofarreh Al-Harbi & Partners (Mofarreh)
Led by CEO Marzouq Al Harbi, Mofarreh has carved its place as a leading contractor, serving prominent clients like NEOM, MODON, ROSHN, Royal Commission for Jubail, and Royal Commission for AlUla, and Red Sea Development.
Boasting a $450 million (SAR1.69 billion) annual invoice value and 13 completed projects, the company stands out for its diverse portfolio spanning roads, bridges, and environmental earthworks.
The company placed a strong emphasis on digital transformation and the integration of technology to elevate its operational capabilities. Key initiatives entailed the creation of a specialised department staffed with a team of experts dedicated to driving digital transformation.
Additionally, the company incorporated drone surveying technology, implemented Building Information Modelling (BIM) for all new projects, and established a comprehensive quality management system. This and more advanced Mofarreh’s position as a technologically advanced and self-reliant entity in its field.
Waleed Al-Bat’he – CEO, Al-Ayuni Investment and Contracting Co.
Under the leadership of Waleed Al-Bat’he, the CEO of Al-Ayuni Company, one of Saudi Arabia’s prominent investment and contracting enterprises, the company is successfully navigating a substantial phase of growth and expansion.
Though Al-Ayuni has built its infrastructural mastery crafting key roads and railways, today it benefits from its CEO’s vision to reach higher goals as it was able to secure significant contracts for numerous gigaprojects such as NEOM, ROSHN, Rua Al Madinah, and Red Sea Global’s Amaala.
Notably, it has recently inked a primary infrastructure and utility contract for the Triple Bay of the Red Sea Destination.
In addition to that, with Al-Bat’he’s strategic perspective on today’s challenges, the company has placed a renewed emphasis on sustainability and innovation, recognising their importance in developing future capabilities and driving success.
Fakhar Al Shawaf – CEO, AlBawani
As the CEO of AlBawani, a leading construction and infrastructure company in Saudi Arabia, Fakhar Al Shawaf has played a pivotal role in fostering a steadfast dedication to digital transformation and the seamless integration of technology.
In the past year, AlBawani has successfully completed notable projects, such as phase two of KAFD Towers, the Red Sea Coastal Village, the SAR project in Qurayyat, and the Bujairi public realm and infrastructure works for the Diriyah project.
Currently, AlBawani is actively engaged in several high-profile projects, including NEOM Hospital, Olayan Hospital, the Sports Boulevard project, the Royal Commission for AlUla initiatives, a production plant for Lucid, and RSGT – MENA.
Furthermore, the company has secured a contract in collaboration with UCC Saudi, awarded by Saudi Entertainment Ventures (SEVEN), to construct an entertainment complex in Yanbu, signed at a budget of $292 million (SAR1.1 billion).
Joseph Daher – Chairman and CEO, AlMabani General Contracting
Led by CEO Joseph Daher, AlMabani has been a force in shaping Saudi Arabia’s construction landscape for five decades. Celebrating its 50th anniversary in 2023, the company solidified its commitment to Vision 2030 through a partnership with PIF.
AlMabani’s recent achievements include key projects like the King Abdulaziz International Airport expansion and major wins in NEOM and Six Flags Qiddiya, which amounted to $1 billion (SAR3.75 billion). These successes showcase their expertise in large-scale infrastructure development and commitment to innovation.
Embracing digitalisation, AlMabani leverages cutting-edge technologies to advance construction practices. This, combined with their skilled workforce of 10,000 professionals, ensures they are well-positioned to tackle complex projects and continue their vital contribution to the region’s growth.
Waleed AlDayel – CPO, Riyadh Airports Company
Waleed AlDayel, Chief Engineering and Project Management Officer (CPO) of Riyadh Airports Company (RAC), possesses extensive expertise in overseeing intricate construction projects. Under his guidance, King Khaled International Airport has undergone expansion and modernisation, benefiting from his two decades of experience.
AlDayel’s proficiency in operational and technical leadership is evident through the implementation of organisational changes and the introduction of business management systems within Riyadh Airport Company, yielding numerous advantages. His strategic planning abilities and effective coordination of multidisciplinary teams ensure the seamless execution of projects. By optimising operations, managing budgets and resources, and ensuring compliance with legal regulations, he consistently achieves exceptional outcomes.
Throughout his career, AlDayel has consistently pursued the successful completion of capital projects, effectively realising their intended benefits for the organisation. He has demonstrated an exceptional aptitude for navigating complex challenges and delivering successful results.
BECOMING THE ASPIRATIONS
As of 2023, Riyadh Airports has successfully implemented a series of projects that involve more than 13 fast-track capital initiatives. These projects aim to improve the passenger experience and strategically enhance the existing infrastructure of King Khalid International Airport. Through collaborative efforts from all stakeholders, the airport has achieved a higher rating according to international standards. By fostering an open and transparent approach, the quality and efficiency of project delivery have improved, leading to greater operational effectiveness and cost reduction.
King Khalid International Airport (KKIA) has embarked on a significant endeavour to upgrade and restore Terminals 1 and 2. This comprehensive effort includes replacing all electromechanical systems, information, security, and telecommunication systems. Additionally, the interior architecture will be renovated to create more commercial areas and elevate the overall passenger experience.
Moreover, KKIA has plans to expand Terminal 1 and Terminal 4 by constructing extensions for Concourse A and H. These expansions aim to increase the number of terminal gates and enhance capacity to align with projected growth forecasts. The commercial spaces within the terminals will also be expanded to accommodate the growing demand, ultimately boosting the airport’s capacity to serve passengers.
Furthermore, there is a dedicated focus on rehabilitating the secondary runway and Alpha taxiway. This involves restoring the outdated pavement and electrical infrastructure of the secondary runway. Additionally, the secondary runway will be upgraded to meet CAT II standards, ensuring enhanced safety and operational capabilities.
Through these endeavours, King Khalid International Airport is demonstrating its commitment to providing a superior airport experience and meeting the evolving needs of travellers. The upgraded facilities, expanded capacity, and improved systems will position KKIA as a premier gateway to Saudi Arabia for years to come.
GOLD-STANDARD CONNECTIVITY
Established in 2016 as a subsidiary of Matarat Holding, Riyadh Airports Company is the driving force behind King Khalid International Airport (KKIA) in Riyadh. Committed to operational excellence and strategic development, RAC serves as a trusted partner for delivering aviation-related services and capital projects that propel KKIA towards its vision of becoming a premier global hub.
Over the past seven years, RAC has achieved remarkable progress. Fuelled by a robust investment strategy, the company has secured over 15 strategic projects exceeding $1.1 billion (SAR4.1 billion) in value. These projects encompass vital infrastructure upgrades, from runway expansions to cutting-edge terminal advancements, solidifying RAC’s dedication to enhancing KKIA’s capacity and efficiency.
RAC’s commitment extends beyond infrastructure. Its vision embraces fostering a world-class talent pool, building strong partnerships with stakeholders, and implementing innovative solutions that prioritise safety, sustainability, and value creation. This comprehensive approach ensures exceeding customer expectations and solidifying RAC’s position as a leader in the aviation industry.
Currently, RAC holds a portfolio exceeding $1.8 billion (SAR 6.75 billion) with approximately 120 projects underway. However, the company’s aspirations reach even further. With a total project value exceeding $4 billion (SAR15 billion), RAC is actively preparing KKIA for the kingdom’s future, including expansion plans to increase passenger capacity from 30 million per annum (MPPA) to an impressive 54 million MPPA. This proactive approach aligns seamlessly with upcoming global events in Saudi Arabia, ensuring KKIA stands ready to welcome the world.
Riyadh Airports Company is not simply an airport operator; it is a catalyst for growth, a testament to Saudi Arabia’s ambition, and a champion of excellence within the global aviation landscape. As RAC continues its trajectory of growth and innovation, it paves the way for a future where King Khalid International Airport serves as a beacon of connectivity, prosperity, and boundless possibilities.
Assem Raqaban – CEO, Maskan Arabia
Assem Raqaban assumed the role of Chief Executive Officer at Maskan Arabia in June 2023, bringing extensive experience and a proven track record in real estate finance and investment. Prior to joining Maskan Arabia, he led the Real Estate department at Al Rajhi Capital, overseeing a team responsible for managing investments and Real Estate Funds.
Raqaban’s career has been marked by leadership positions across prominent organisations. He previously served as Senior Vice President at the Saudi Investment Department – Real Estate & Infrastructure within The Public Investments Fund (PIF), where he played a key role in establishing numerous investment and development projects. Additionally, he served on various committees and boards, representing the PIF.
His diverse experience further includes positions such as Director of Real Estate Development at Jabal Omar Development Company, Director of Investments at Methak Investment Holding, and Investment Manager at SEDCO Holding, where he managed local and global investments across various asset classes.
He holds an impressive academic background, with a Master’s Degree in Real Estate Finance and Investment from the University of Reading, U.K., and a Master’s Degree in Financial Analysis and Fund Management from the University of Exeter, U.K. He also earned a Bachelor’s in Finance from King Fahad University of Petroleum and Minerals.
In a competitive construction landscape, how does Maskan Arabia differentiate itself and consistently secure its market position?
Established in 2008, Maskan Arabia has emerged as a leading force in the kingdom’s real estate development landscape. We are a specialised company dedicated to delivering exceptional housing solutions across the kingdom. Our commitment extends beyond mere construction—we offer a comprehensive portfolio encompassing diversified products and services. This includes the development of luxurious villas and townhouses, the construction of modern apartment blocks, and the provision of comprehensive marketing and after-sales support to ensure a seamless journey for our valued clientele.
Our unwavering pursuit of excellence is underpinned by our ability to provide alternative capabilities, further strengthened by the agility and stability inherent in our closed joint stock company structure. This dedication to innovation has positioned us as a leader within the kingdom’s construction and real estate development sectors. We meticulously curate prime land, conceptualise every detail, and oversee construction with rigor, ensuring the highest standards at every stage of the real estate journey.
How has Maskan Arabia’s strategic approach to partnerships enhanced the value it delivers to its clients across the board?
Through our diverse service portfolio and unwavering commitment to excellence, we have delivered a series of successful residential projects, including Maskan Heights, Al Casaba, Al Dar, Retaj, Topaz, and Saaf. Looking ahead, we are excited to unveil the Al-Muhra Project, a collaborative venture with the Saudi Ministry of Housing.
Moreover, environmental sustainability is a cornerstone of our values, reflected in our meticulous pre-construction approach that evaluates environmental factors. We are committed to implementing green building principles in all our upcoming projects, prioritising sustainability and environmental awareness. This dedication manifests in our contemporary designs, robust construction practices that support energy conservation and environmental safety through pioneering solutions.
Our vision encompasses a comprehensive green building model, ensuring the responsible utilisation of water resources, harnessing natural energy sources, fortifying climate resilience, championing responsible waste management, minimising environmental disruption, optimising indoor air quality, and achieving a harmonious balance between the built and unbuilt environment.
Further demonstrating our dedication to excellence, we have partnered with King Saud University’s Faculty of Engineering to develop innovative designs. We are also proud to sponsor the GCC Secretariat for Engineering Colleges Students award, nurturing future talent within the industry.
Our legacy is one of visionary expertise, unwavering commitment to sustainability, and a driving force to shape the real estate and construction landscape across the region and beyond.
Khalil Awada – CEO, Abniya Innovative Limited
Khalil Awada, the CEO of Abniya Innovative Limited, is an experienced individual who has worked in various industries. He completed his studies in Business Management and Marketing at the Lebanese American University (LAU) before starting his career in advertising and marketing in 2006. His exceptional skills and achievements in his field led him to join British American Tobacco as a Marketing Manager, where he worked from 2008 to 2010.
Transitioning to the flourishing landscape of Riyadh’s construction and contracting industry, Awada joined Spectrum Engineering Solutions. As he navigated the intricacies of the industry, he rose through the ranks from the role of Commercial Director to Managing Director. During his tenure at SES, Awada was instrumental in fostering business relations and meticulously supervising project executions across various regions within the Kingdom of Saudi Arabia.
In 2022, leveraging his wealth of knowledge and in alignment with the ambitious Vision 2030, Awada co-founded Abniya Innovative Limited with his partners. His vision for the company is rooted in combining his vast experience with the evolving demands of the modern construction landscape, positioning Abniya at the forefront of industry innovation and excellence.
How does the company translate its visionary approach into specific processes and practices that optimise its operational capabilities?
At Abniya, client success is our guiding principle. We empower you to achieve your project goals through our unparalleled execution capabilities. Our expertise spans across civil construction, industrial automation, and turnkey electro-mechanical projects, leveraging cutting-edge technologies and innovative practices to deliver superior outcomes.
Safety, quality, and risk mitigation are the cornerstones of our approach. We are passionate in our commitment to these principles throughout every project phase, ensuring seamless alignment with Vision 2030’s aspirations for sustainable growth.
Abniya’s 15-year history is deeply intertwined with Saudi Arabia’s modern transformation. We were founded on the pillars of innovation and progress, with a clear vision to become a leading innovator and a competitive force within the kingdom’s construction sector. Each chapter of our journey reflects our dedication to exceeding expectations, pushing boundaries, and contributing meaningfully to the nation’s built environment.
Our company’s commitment extends beyond delivering outstanding projects. We foster a culture of innovation, growth, and excellence, becoming your trusted partner in construction. Our dedication to exceeding your expectations is unwavering, ensuring we deliver exceptional value and build lasting relationships.
Can you elaborate on the specific mechanisms through which client relationships shape the company’s environmental responsibility practices?
At Abniya, we believe in building a brighter future for Saudi Arabia, a future that is both prosperous and environmentally responsible. We are deeply committed to the Saudi Green Initiative and actively implement its principles across all our projects. From promoting energy efficiency and embracing renewable energy to prioritising waste reduction and utilising sustainable materials, we are constantly innovating to minimise our environmental footprint.
Our commitment extends beyond environmental responsibility. We remain dedicated to delivering outstanding service and high-quality projects, exceeding client expectations while fostering a culture of integrity and collaboration within our team. By prioritising both client satisfaction and environmental sustainability, we strive to play a leading role in shaping a greener and more prosperous Saudi Arabia for generations to come.
We invite partners, clients, and stakeholders to join us on this journey towards a future characterised by innovation, growth, and excellence. As Saudi Arabia’s construction sector experiences unprecedented growth and transformation, Abniya is committed to playing a pivotal role in shaping a sustainable and prosperous future.