The Middle East is a rapidly developing region in which several national governments have initiated plans for unique mega-projects designed to boost the economy and attract tourists. Saudi Arabia, for instance, is developing the $17 billion Diriyah Gate Development, a luxury resort destination outside of Riyadh, and a next-generation global innovation center known as NEOM, which includes a series of hyper-connected communities over 170 kilometers. The $3.2 billion Yas Bay in the United Arab Emirates and the Grand Egyptian Museum are among the other major ongoing mega-projects in the Middle East.
These and other projects are being built by some of the region’s most notable construction companies. In attempting to distinguish the top construction firms in the Middle East and North Africa (MENA), Forbes ranked companies based on factors including the age of the company, the number of employees, the value of completed projects, and the value of ongoing projects.
The following is a look at Forbes’ top five construction companies in the Middle East for 2021.
1. Orascom Construction
Founded in 1950 and headquartered in Egypt, Orascom Construction is the premier construction company in MENA. Led by CEO Osama Bishai, the company recorded $1.7 billion in revenue during the first half of 2021, up 4.1 percent from the year prior.
While Orascom has completed and has many ongoing projects in the Middle East, it also has a footprint in more than 25 countries, including Algeria, Turkey, Spain, and the United States. It built a nitrogen fertilizer plant in Iowa (Orascom Holding owns the Iowa Fertilizer Company) and earned $885 million in revenue through its American subsidiaries during the first six months of 2021.
Domestically, Orascom is building the Grand Egyptian Museum, which, when complete in summer 2022, will be the world’s largest archaeological venue, housing more than 100,000 artifacts. In addition, Orascom is contributing to the build of the Greater Cairo Metro and the Burullus Power Plant.
2. Nesma & Partners Contracting
Saudi Arabia’s Nesma & Partners Contracting, led by CEO Samer Abdul Samad, is highly involved in developing sustainable projects for Crown Prince Mohammed bin Salman’s Vision 2030. The company’s clients include Saudi Aramco, NEOM, Riyadh Development, and Samsung. Its major ongoing projects in Saudi Arabia include the $1.8 billion urban development Masar Makkah, the Shoaiba Power & Desalination Plant, the Jubail Export Refinery Coker Unit, and the Riyadh Metro Project.
Founded in 1981 as Nesma & Al Fadl, Nesma operated as three affiliate companies until 2004, when they merged to form Nesma & Partners Contracting Co. Ltd. Today, the company has more than 20,000 employees and specializes in a range of fields, including construction, engineering, infrastructure, oil and gas, and electro-mechanical.
3. Al Bawani Company
Also based in Saudi Arabia, Al Bawani Company began operations in 1991 as a civil works company and has steadily expanded to become a general contracting enterprise holding a diverse group of companies. It has more than $2 billion worth of ongoing projects and previously completed mega-projects such as the Aramco Innovation Center and the Red Sea Tourism Project Phase 1. Fakher Al-Shawaf leads the company and its more than 12,000 employees.
4. ALEC Engineering and Contracting
Part of the Investment Corporation of Dubai, ALEC is a UAE-based business that builds commercial property such as hotels, retail spaces, and airports. Established in 1999, the company has delivered 89 projects to date, including Concourse A at Dubai International Airport, Doha Festival City, and Dubai Hills Mall. One of its subsidiaries, ALEC Energy, is building a solar PV solution for the Dubai Electricity and Water Authority’s new office.
Some of ALEC’s other major projects include the Mobility Pavilion at Expo Dubai 2020, Jumeirah Living at Marina Gate, Yas Waterworld, and Al Falah Community Development. In addition to its work in the UAE, ALEC has delivered projects in Saudi Arabia, Oman, and Ethiopia.
5. Arabian Construction Company
The oldest company on this list, Arabian Construction Company (ACC) was created by Lebanon’s Mikati and Merehbi families in 1967. Although the families continue to manage the multinational company (Maher Merehbi is the company’s CEO), it is now headquartered in Abu Dhabi and is mostly active in the UAE. Some of its notable projects in the country include Emirates Airlines’ headquarters, three Etisalat offices, Etihad Towers, World Trade Centre Abu Dhabi, and Sun and Sky Towers.
Outside of the UAE, ACC has operations in six countries, including Lebanon, Saudi Arabia, England, and Cameroon, with 11 offices dispersed throughout MENA and India. The UN Economic and Social Commission for Western Asia building in Beirut, Lebanon, is another one of its flagship projects. ACC also built Emaar Residences (Saudi Arabia), the Rare Earth residential development (India), New Shiv Shahi Tower (India), IKEA Doha Festival City (Qatar), and the Presidential Offices for the Ruler and Government of Qatar.