[News Space=Reporter seungwon lee] Hanmi Global (Chairman Jong-Hoon Kim), a global PM (construction project management) company, announced on the 30th that it had won a PM contract for a high-rise premium residential complex development project in Mecca, Saudi Arabia, through a Saudi corporation. The contract amount is approximately KRW 25 billion, which is approximately 10% of Hanmi Global’s overseas sales (consolidated basis) last year.

The project is a high-rise premium residential complex located across from Al-Haram, the holiest site in Mecca, the heart of world Islam, and will consist of a residence tower, commercial facilities, a prayer room, a parking lot, and other support facilities. The project name, business outline, and contracting party have not been disclosed due to the client’s request for confidentiality.

Hanmi Global is continuing to achieve stable performance through continuous overseas orders. In the first quarter of this year, it recorded consolidated sales of KRW 122.5 billion and operating profit of KRW 9.8 billion, of which overseas sales accounted for KRW 63.5 billion, or about 52% of the total. In particular, sales in Saudi Arabia increased by 11% compared to the previous quarter, reaching KRW 12.3 billion.

Since entering the Saudi market in 2007, Hanmi Global has successfully completed over 40 projects to date. Since 2021, it has won numerous projects related to Saudi Arabia's future new city project, 'NEOM City', and has carried out a total of 8 projects so far, including ▲NEOM's special overall program management (e-PMO) ▲general business management, global advisory services in three areas: transportation, environment, and sustainability ▲project monitoring services for the 80,000-unit worker housing complex.

Hanmi Global established its Middle East Regional Headquarters (RHQ) in Saudi Arabia in July of last year, taking the lead among domestic companies, and is expanding its business in the Middle East and strengthening its local sales base. The establishment of RHQ is a mandatory requirement for bidding on Saudi government projects starting in 2024, and currently, only some large construction companies and IT companies in Korea hold the relevant license.

A Hanmi Global official said, “Winning this project is not just a simple construction project; it is another example of our global PM capabilities and expertise being recognized in the Middle Eastern market,” adding, “We will continue to create results in the Middle Eastern region as well as the global market.”