Global multidisciplinary engineering company, KPM Engineering (KPM) has witnessed the doubling of its revenue in 2022, which allows it register record revenue in the last year, according to a report by Zawya.
During the year under consideration, the company secured around 6 million sq ft of projects in Saudi Arabia, with 30% of all the organisation’s GCC projects based in the kingdom last year, the Zawya report said.
Buoyed by its growth in the kingdom, KPM has set up its first office in Saudi Arabia, which will be fully operational this summer. It also plans to open additional offices to support international projects, including one in the UK, the report said.
Saudi Arabia, it stated, will remain the group’s key focus for 2023 with nearly 50% of the organisation’s GCC tally coming out of the kingdom.
This year, the multidisciplinary engineering firm will focus on hospitality, residential and mixed-development projects in the kingdom, working alongside international architecture firms such as DSA Architects International and RMJM.
Its project pipeline includes DoubleTree, a $151 million international hotel in Jeddah, an integrated residential and retail development in Riyadh, and a 4.5 million sq ft mixed-use project in Makkah.
In response to increased demand for KPM’s services in Saudi Arabia, the organisation will manage these projects from its first Saudi-based office, which will be fully operational this summer, said a top official.
Commenting on the development, KPM’s Director John Guest, said, “The significant growth we have achieved over the last year is evidence of the thriving construction sector across the Middle East. Saudi Arabia is a key focus area for KPM and we aim to continue on our growth trajectory, increasing the number of projects in the Kingdom to make up half of our total global projects.”
He said, “The opening of our office in KSA will be critical to our ongoing success and we look forward to supporting the kingdom in achieving its Vision 2030 goals. We have had great success across the Middle East and globally, and we’re confident we will exceed our growth plans for 2023 with all of the notable projects currently in our pipeline.”