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The transaction, which is expected to close in the first half of 2023, is subject to the satisfaction of customary closing conditions, including regulatory approvals
Egis Group, the leading international multidisciplinary engineering, consulting and operations firm announced that it has entered into a definitive agreement to acquire Omrania, a Saudi architectural and engineering consultancy. Omrania is headquartered in Riyadh, with 50 years’ of experience in creating places of lasting value and improving lives through design.
The acquisition marks a significant step forward for both firms with strong geographic and business alignment, creating an opportunity to leverage their joint footprint and client base to reach significant scale in Saudi Arabia, and reinforces their combined position in helping achieve the country’s 2030 vision.
Founded in 1973, Omrania built a strong reputation for its integrated and interdisciplinary approach to architecture, master planning, urban design, landscape and engineering services. Through its work with government entities, cultural institutions, the private sector, and other organizations, Omrania offers its clients comprehensive design services from conceptual studies to design development and construction site supervision.
Laurent Germain, Group CEO of Egis, said: "With the addition of Omrania, Egis will create a true leadership position in high-end design and architecture services in Saudi Arabia. Together with Omrania’ s team, we have a shared vision to design sustainable and contextual environments that enrich the quality of everyday life. Egis looks forward to welcoming Omrania’s employees and joining forces with such a well-respected, Saudi grown architectural and engineering consulting name.”
Omrania participated in numerous landmark projects throughout Saudi Arabia, including the Tuwaiq Palace, Kingdom Tower, King Abdulaziz Cultural Center, King Salman Park, multiple Ministry of Housing projects and the iconic Public Investment Fund (PIF) Tower. Omrania’s work on such projects has been widely recognized with industry international awards, including the prestigious Aga Khan Award for Architecture.
Basem Al-Shihabi, Founder and Managing Partner of Omrania, commented: "On our 50th anniversary, we are tremendously excited to join forces with Egis, fulfilling our dreams of perpetuity, and joining forces with Egis who are leaders in the field, where our combined expertise will allow us to deliver world-class architecture and engineering design projects. Egis and Omrania have been working together since 2013 and this step will surely bring together the best that both offer to our clients and ourselves.
With the addition of over 700 professionals from Omrania, Egis in the Middle East region is expected to grow to over 3,000 people. In November last year, Egis announced the agreement to acquire the innovative, multidisciplinary design practice, U+A, headquartered in Dubai. In December, Egis in the Middle East was awarded the prestigious Multi-Discipline Consulting Company of the Year 2022, by the Middle East Consultants Awards.
Alaa Abusiam, CEO of Egis in the Middle East and South Asia added: “Omrania’s deep knowledge of the local market and their innovative approach to engineering, landscape and architecture will support the rapid expansion of Egis as a partner of choice to our clients in Saudi Arabia, incorporating the notions of sustainable development into each of our projects. We look forward to working with Omrania to meaningfully expand the opportunities for our joint teams to grow, and to continue to win and execute transformational projects for our clients.”
Egis plays a significant role in some of the Saudi Arabia’s most iconic projects by working with distinguished clients that include The Royal Commission of Riyadh City (RCRC), NEOM, SEVEN, Qiddiya Investment Company, Diriyah Gate Development Authority, Red Sea Global, Soudah Development, The Royal Commission of AlUla (RCU), Saudi Downtown Company, Saudi Railway Company, Riyadh Airports, and others.
The transaction, which is expected to close in the first half of 2023, is subject to the satisfaction of customary closing conditions, including regulatory approvals. |
