ALEC Achieves 29% YoY Growth Driven by Ongoing Saudi Expansion and Subsidiaries’ Strong Performance
Construction firm’s growth in Saudi signals impressive early success of ongoing expansion in the Kingdom
Dubai,: Gulf Tech News
With a healthy pipeline of projects in progress, ALEC Engineering and Contracting LLC (ALEC) has continued its strong business momentum. During 2024, the company — one of the largest construction firms in the region — recorded an impressive 29% revenue growth, scaled its workforce by 46%, reaching nearly 40,000 workers, and established new facilities in Ras Al Khaimah.
These investments bolster ALEC’s continued sectoral diversification, and expansion in Saudi Arabia — two pillars of its strategy over the last five years. “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. Notably, AJI Rentals, the company’s heavy equipment rental arm, established its presence in Saudi Arabia in 2024, while simultaneously expanding its UAE footprint with the opening of a new facility in Dubai.
ALEC’s acquisition of TARGET Engineering has also proved to be a strategic success. “Last year, TARGET won multiple large-scale engineering, procurement, and construction projects, including MMBD, Borouge, and the Dalma Gas Development,” said Lewis.
Commenting on the company’s impressive 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 landmark projects ALEC has been awarded in Saudi Arabia are the Qiddiya Waterpark and Qiddiya Speedpark.
Looking ahead, ALEC 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,” said John Deeb, COO and CFO of ALEC. “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.”
