meed-logo

line1 line2 line3
SIGN IN / REGISTER

Saudi market offers long-term growth opportunities

8 September 2023

 

Register for MEED's guest programme 

As Saudi Arabia’s construction boom gathers pace, it is easy to forget that the kingdom has been a long-term market for several international companies. One such firm is US-based Parsons.

“Our first job was in 1956 at Dharan airport, and we have been in Yanbu since the 1970s, so we have been in the kingdom for more than 65 years,” Martin Boson, general manager of Parsons Saudi Arabia, tells MEED. 

Today, Saudi Arabia is a significant part of Parsons’ business. “More importantly, it’s a great growth-oriented market. If a company is looking for organic growth, Saudi Arabia is a good place to be,” says Boson.  

The company’s most recent win is a five-year contract to provide project and construction management services at King Abdullah Financial District. The contract joins a roster of major projects that Parsons is working on across Saudi Arabia.  

The right jobs

Despite being engaged on most gigaprojects and major construction programmes in the kingdom, Parsons has the appetite for more work.

“We are focusing on the jobs where we think we have an advantage and can deliver for the customer,” says Boson. 

“If we do not think we’re the right company for a particular project, we will not pursue it. We want to go for the jobs we think we can successfully deliver. It is a great market, but not every job is for everybody.” 

Design work

Growth can also be achieved by expanding the company’s range of services.

“Our work in Saudi Arabia is mostly as a PMC [project management consultant]. When I came on board [in the kingdom] two and a half years ago as the general manager, we did design, but just for our PMC customers. Now, we’re going after other design work,” says Boson. 

This is because the market has shifted, he says. “It used to be that design was only by local Saudi companies, and we could not compete in that marketplace. There are now huge design programmes that our competitors are delivering, but rather than do what they are doing, our strategy is different. Our strategy is local delivery, not offshore.” 

Design work allows Parsons to be involved in even more projects in Saudi Arabia.

“When you work as the PMC at the top of a major programme, you get conflicted out of everything else. That means we can’t go after the design work for many projects. But for the other projects, where we are not delivering PMC work, we can go after the design, which gives us another opportunity to work on the project,” says Boson.  

Talent pool

With abundant project opportunities, companies are entering the Saudi market, creating new competition for established players.

“In my view, the market is big enough for many more players,” says Boson. 

As well as companies, Saudi projects need people to deliver them.

“We are continually looking to hire the best talent to help us deliver for our clients. For the recruitment side of the machine, we are a big company with scale and a good reputation so we can attract people. We are focusing on retention and growing the talent pool,” says Boson.

“People are the company’s greatest asset, and investment should be in people.” 

Creating jobs

With a young population, a key area of focus for the Saudi government’s Vision 2030 is creating employment opportunities.

“We have a programme for Saudi nationals. Every six months, we bring in 12 top students from the local universities to undergo a training scheme and then get sent out for on-the-job training on projects. We have started taking on graduates from that programme,” says Boson. 

There are a lot of greenfield projects where you can implement sustainability from the masterplan, into design, through to construction, and then onto operations and maintenance
Martin Boson, Parsons Saudi Arabia

Another key area of focus is sustainability. “Talking from an engineering standpoint, we should not put out any designs or masterplans that are not sustainable,” he says.

“When we manage construction activities, there are so many things that you can do. This should just become something that we do because that is more cost-effective, better for the environment, and will deliver faster for the customer. 

“Saudi Arabia is a strong market with its big construction programmes. There are a lot of greenfield projects where you can implement sustainability from the masterplan, into design, through to construction, and then onto operations and maintenance,” he adds. 

Boson highlights how carbon emissions can be reduced by improving infrastructure design.

“The lifespan of an asset is being extended. We used to design bridges for 30-50 years. If you can design that for 100 years, then you have saved one whole bridge, and that means that even if you did not sustainably deliver the bridge, you still halve the carbon.”  

https://image.digitalinsightresearch.in/uploads/NewsArticle/11132947/main.gif
Colin Foreman

Register for MEED's guest program now to access this article.

Click here to register
Exclusive from Meed
Related Articles
  • Expo Riyadh sets October deadline for Saudi Arabia pavilion

    7 October 2026

     

    Expo 2030 Riyadh Company (ERC), tasked with delivering the Expo 2030 Riyadh venue, has set a deadline of 25 October for bids for a contract to build the Saudi Arabia pavilion.

    The tender was issued on 19 May, with an initial bid submission deadline of 26 August.

    The pavilion is a major asset located within the KSA District on the eastern side of the Expo 2030 Riyadh masterplan, in the Loop of Nations district.

    Construction activity at the Expo site is accelerating, with Riyadh moving to award its first major vertical contracts and advancing infrastructure works across the programme.

    Last month, MEED reported that ERC had received contractor interest on 14 September for a contract to design and build a convention centre in the site’s Collaboration District.

    ERC also tendered a contract to deliver the Souq areas within the Expo site, as MEED exclusively reported on 8 September.

    These areas are divided into five precincts, with a total development area of about 300,000 square metres.

    Also in September, Saudi Arabia’s Royal Commission for Riyadh City awarded a design-and-build contract to construct a new metro station serving the Expo 2030 site.

    In April, ERC awarded two contracts for the next phase of infrastructure works at the site to local firm Al-Yamama Company.

    The scope covered the construction of road networks and infrastructure for water, sewage, electricity, telecommunications and electric vehicle (EV) charging.

    These awards followed ERC’s January award of an estimated SR1bn ($267m) contract for initial infrastructure works at the site to local firm Nesma & Partners.

    That scope covered about 50 kilometres of integrated infrastructure networks, including internal roads and essential utilities such as water, sewage, electrical and communications systems, as well as EV charging stations.

    The masterplan covers 6 square kilometres, making it one of the largest sites ever designated for a World Expo event. Situated north of the Saudi capital, the site will be near the future King Salman International airport and will provide direct access to Riyadh landmarks.

    The Public Investment Fund, Saudi Arabia’s sovereign wealth vehicle, launched ERC – a wholly owned subsidiary – in June 2025 to build and operate facilities for Expo 2030.

    READ THE OCTOBER 2026 MEED BUSINESS REVIEW – click here to view PDF

    Industry and logistics drive development at Neom; Saudi Arabia’s investment priorities realign amid conflict; MEED’s 2026 power developer ranking.

    Distributed to senior decision-makers in the region and around the world, the October 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/20334856/main.jpg
    Yasir Iqbal
  • Kuwait on track to hit oil production target

    7 October 2026

    Kuwait is on track to meet its target of having 4 million barrels a day (b/d) of oil production capacity by 2035, according to Kuwait Petroleum Corporation (KPC) chief executive Shaikh Nawaf Al-Sabah.

    Al-Sabah also said Kuwait is on course to increase non-associated gas production to 2 billion cubic feet a day by 2040.

    His comments come amid an ongoing crisis in Kuwait’s oil and gas sector linked to the regional conflict that began when the US and Israel attacked Iran on 28 February.

    The subsequent war has significantly disrupted shipping through the Strait of Hormuz, which is a crucial export route for Kuwaiti crude oil.

    Kuwait is currently producing around 2 million b/d of oil, down from 2.6 million b/d before the US and Israel attack.

    Speaking at a conference in London, Al-Sabah said: “We have the capacity to go back up to our current maximum sustainable capacity of 3 million b/d, if we have the export routes available, and this comes down to the ability to move oil through the Strait.”

    KPC is investing $9bn-$10bn a year in capital expenditure to meet its oil and gas production goals, according to Al-Sabah.

    He said: “We are doing this because we recognise that it is our hydrocarbons that will be most in demand a decade from now, and two decades from now – in fact, for the rest of our lifetimes.”

    Project Seef

    KPC is pushing ahead with the Al-Seef project, which focuses on developing three large offshore oil discoveries, Al-Sabah said.

    The offshore fields are known as Nokhatha, Julaia and Jazza. The development was first announced in February this year, about two weeks before the US and Israel attack on Iran.

    Al-Sabah said KPC is continuing with the project and believes the three fields collectively hold more than 3 billion barrels of recoverable oil.

    He said: “We are asking international oil companies to partner with us to develop those resources under an operating services contract.

    “So, we’re moving ahead according to the exact same schedule that we had put together even before the war began.”

    Al-Sabah did not say which international oil companies KPC has approached to help develop the three offshore fields.

    READ THE OCTOBER 2026 MEED BUSINESS REVIEW – click here to view PDF

    Industry and logistics drive development at Neom; Saudi Arabia’s investment priorities realign amid conflict; MEED’s 2026 power developer ranking.

    Distributed to senior decision-makers in the region and around the world, the October 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/20315147/main.jpg
    Wil Crisp
  • Roshn plans new flagship development in Riyadh

    7 October 2026

     

    Saudi developer Roshn Group plans to develop its next flagship scheme in north Riyadh, spanning an area of 13.7 square kilometres. 

    Roshn is looking to appoint lead design consultants to deliver detailed design, tender documentation and construction documents across the scheme, known as Plot 1.

    The scope covers all infrastructure, utilities, public realm works and site adaptation of Roshn’s residential prototypes, split across two work packages.

    Part 1 covers phases A, B and E, which collectively span about 7.8 million square metres (sq m) and will comprise 17,000 units.

    Part 2 includes phases C and D, which will span about 4.7 million sq m and comprise more than 15,000 units.

    The development is bordered by Expo 2030, King Abdulaziz Park, the Sports Innovation Lab Zone and the National Housing Company-developed Khozam district.

    It will be a residential-led mixed-use development, also featuring retail, offices, hospitality, education and civic facilities.

    Connectivity is a core plank of the masterplan, with two metro stations planned: one at the existing Line 4/proposed Line 7 interchange and another dedicated Line 7 stop. The scheme would also be served by the future Qiddiya high-speed rail and a possible King Salman Road diversion.

    Plot 1 builds on Roshn’s existing footprint in the capital, notably the multi-phase Sedra community, as the developer expands beyond single-family housing into mixed-use districts under its Roshn 3.0 strategy.

    Last month, Roshn Group announced that it had signed a preliminary agreement with Talaat Moustafa Group (TMG) Saudi, the local subsidiary of Egyptian developer Talaat Moustafa Group, to establish a joint venture to explore and develop a mixed-use project in Riyadh.

    Under the agreement, TMG will hold a 51% stake in the joint company, while Roshn Group will hold 49%.

    The agreement sets out a framework for the two groups to assess a potential partnership for the project’s phased development, which is planned as a residential-led, mixed-use community featuring retail, commercial, hospitality, leisure, healthcare and education facilities, alongside parks and public spaces.

    Roshn Group and TMG Saudi plan to conduct detailed master planning and develop the project’s business case.

    Preliminary studies indicate the development could include more than 55,000 residential units across all phases.

    Roshn Group did not disclose the exact project location in its announcement.

    As a Public Investment Fund-owned developer, Roshn remains a key vehicle for delivering Vision 2030’s housing programme, which targets 70% Saudi home ownership, alongside the kingdom’s wider quality-of-life and economic diversification agendas.

    READ THE OCTOBER 2026 MEED BUSINESS REVIEW – click here to view PDF

    Industry and logistics drive development at Neom; Saudi Arabia’s investment priorities realign amid conflict; MEED’s 2026 power developer ranking.

    Distributed to senior decision-makers in the region and around the world, the October 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/19786131/main.jpg
    Yasir Iqbal
  • Al-Yamamah signs Saudi 380kV transmission deals

    6 October 2026

    Riyadh-headquartered Al-Yamamah Steel Industries has signed two supply contracts with Algihaz Contracting Company for the construction of 380kV ultra-high-voltage transmission lines in Saudi Arabia’s Western Region.

    The contracts cover the supply of steel towers and are worth a combined SR254.28m ($67.8m).

    In a disclosure to the Saudi Exchange (Tadawul), the firm said the first contract is valued at SR135.65m ($36.2m), while the second is worth SR118.63m ($31.6m).

    Both contracts have a one-year duration, with supply scheduled to begin in March 2027. The financial impact of the contracts is expected to start appearing in Al-Yamamah Steel’s results in the first quarter of 2027. 

    Algihaz is currently carrying out construction works for several transmission projects, including Saudi Energy’s $206m Bisha 380/132kV BSP connection project, for which it was appointed the main contractor in 2025.

    The project involves a double-circuit 380kV overhead transmission line connecting the Bisha PV bulk supply point to the existing bulk supply points in Aseer Province.

    The deals also add to a series of steel tower contracts secured by Al-Yamamah Steel for 380kV transmission projects in the Western Region.

    In September, the company signed a SR103.14m ($27.5m) contract with the Saudi branch of National Power Construction Corporation to supply steel towers for a 380kV ultra-high-voltage line. Supply under that contract is due to begin in February 2027. 

    Al-Yamamah Steel also signed a SR176.48m ($47.1m) contract in November 2025 with Arabian Electrical Transmission Line Construction Company to supply steel towers for another 380kV ultra-high-voltage line in the Western Region. 

    The company has expanded its tower production capacity in recent years to meet expected demand for steel towers used in electricity transmission lines. Its 2024 annual report said it had added production lines and a galvanising plant in Jeddah Industrial City for this purpose. 

    READ THE OCTOBER 2026 MEED BUSINESS REVIEW – click here to view PDF

    Industry and logistics drive development at Neom; Saudi Arabia’s investment priorities realign amid conflict; MEED’s 2026 power developer ranking.

    Distributed to senior decision-makers in the region and around the world, the October 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/20308551/main.jpg
    Mark Dowdall
  • Eagle Hills plans new Syria projects

    6 October 2026

    Abu Dhabi-based real estate developer Eagle Hills has signed a framework agreement with Syria’s Ministry of Public Works & Housing to develop a series of residential and tourism community projects across several Syrian governorates.

    The first phase will include Damascus Heights in the capital and Latakia Yachts & Marina on the Mediterranean coast.

    Damascus Heights is planned as a mixed-use community comprising homes, retail, hospitality and business facilities, supported by schools, healthcare services, green areas and resident amenities.

    Latakia Yachts & Marina is planned as a waterfront destination anchored by a marina, with homes, hotels, branded residences and leisure offerings.

    During development and operation, the projects are expected to support economic activity and tourism, create jobs across construction, hospitality and services, and add new housing, community facilities and tourism infrastructure.

    Syrian professionals and businesses are expected to play a central role in both delivery and operations, creating opportunities for contractors, suppliers and service providers, strengthening local supply chains and SMEs, and supporting skills development and knowledge transfer.

    Eagle Hills is also inviting applications for investment participation from Syrians in Syria and abroad, with priority for qualified Syrian individuals, businesses and institutions. 

    Following the signing, both projects will proceed to implementation, with enabling and construction works expected to begin shortly in Damascus and Latakia.

    READ THE OCTOBER 2026 MEED BUSINESS REVIEW – click here to view PDF

    Industry and logistics drive development at Neom; Saudi Arabia’s investment priorities realign amid conflict; MEED’s 2026 power developer ranking.

    Distributed to senior decision-makers in the region and around the world, the October 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/20308460/main.jpg
    Yasir Iqbal