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AJI Rentals, the company’s heavy equipment rental arm, also established its presence in Saudi Arabia in the last calendar year Dubai-based ALEC Engineering & Contracting (ALEC) has said it recorded 29% revenue growth, scaled its workforce by 46%, and established new facilities in Ras Al Khaimah in 2024. The firm said its workforce has now reached nearly 40,000 people. AJI Rentals, the company’s heavy equipment rental arm, also established its presence in Saudi Arabia in 2024, while expanding its UAE footprint with the opening of a new facility in Dubai. The investments bolster ALEC’s continued sectoral diversification, and expansion in Saudi Arabia — two pillars of its strategy over the last five years, the firm said. “Over the years, our construction-adjacent lines of business — spanning fit-out, modular construction, and even data centres — have become market leaders in their own right and now contribute significantly to our overall business,” said Barry Lewis, CEO at ALEC. ALEC’s acquisition of TARGET Engineering has also proved to be a strategic success, the firm revealed. “Last year, TARGET won multiple large-scale engineering, procurement, and construction projects, including MMBD, Borouge, and the Dalma Gas Development,” Lewis stated. Commenting on the company’s 29% year-on-year revenue growth in Saudi Arabia and the UAE, Lewis said, “Having established a robust ecosystem of talent, production facilities, supply chains, and logistics in the UAE, replicating this success in Saudi Arabia was the next logical step. In just two years, we have grown to be recognised as one of the most trusted construction firms in the Kingdom. This success has been driven not by volume but by a portfolio of complex, high-value developments.” Among the projects ALEC has been awarded in Saudi Arabia are the Qiddiya Waterpark and Qiddiya Speedpark, the firm stated. Going forward, ALEC said that it aims to pioneer new paradigms and technologies in the region. One such area is the modularisation of construction and MEP works, wherein the company has established large-scale production facilities in the UAE. In line with its recently unveiled Robotics Strategy, ALEC aims to have 5% of its construction activities automated through advanced robotic solutions by 2030. Through its subsidiary, Advanced Engineered Solutions (AES), which specialises in turnkey building envelope solutions, the company is targeting large-scale developments in the cultural, hospitality, and leisure sectors, where visionary architects are pushing the boundaries of conventional design. “We will continue to challenge perceptions of our industry with our advancements in technology utilisation, sustainability, and operational efficiency. As a number of the large contracts we have been awarded move into the phase of significant activity, 2025 will be a year of consolidation. We will focus on streamlining operations and further enhancing outcomes for our clients and stakeholders,” remarked John Deeb, COO and CFO of ALEC. |
