France’s Egis Group has entered into a definitive agreement to acquire Saudi architectural and engineering consultancy Omrania.
The transaction is expected to close in the first half of 2023, subject to closing conditions and regulatory approvals.
Headquartered in Riyadh and founded in 1973, Omrania has 50 years of experience working on projects in the kingdom. It is a multidisciplinary consultant and works across architecture, master planning, urban design, landscape and engineering, and provides design services from conceptual studies to design development and construction site supervision.
Its client base includes government entities, cultural institutions, the private sector and other organisations.
Notable Omrania projects include Tuwaiq Palace, Kingdom Tower, the King Abdulaziz Cultural Centre, King Salman Park, multiple Ministry of Housing projects and the Public Investment Fund (PIF) Tower.
Laurent Germain, Group CEO of Egis, said: “With the addition of Omrania, Egis will create a true leadership position in high-end design and architecture services in Saudi Arabia. Together with Omrania’s team, we have a shared vision to design sustainable and contextual environments that enrich the quality of everyday life.
“Egis looks forward to welcoming Omrania’s employees and joining forces with such a well-respected, Saudi-grown architectural and engineering consulting name.”
Basem al-Shihabi, founder and managing partner of Omrania, said: “On our 50th anniversary, we are tremendously excited to join forces with Egis, fulfilling our dreams of perpetuity, and joining forces with Egis who are leaders in the field, where our combined expertise will allow us to deliver world-class architecture and engineering design projects.
“Egis and Omrania have been working together since 2013 and this step will surely bring together the best that both offer to our clients and ourselves.”
Alaa Abusiam, CEO of Egis in the Middle East and South Asia, added: “Omrania’s deep knowledge of the local market and their innovative approach to engineering, landscape and architecture will support the rapid expansion of Egis as a partner of choice to our clients in Saudi Arabia, incorporating the notions of sustainable development into each of our projects.
“We look forward to working with Omrania to meaningfully expand the opportunities for our joint teams to grow, and to continue to win and execute transformational projects for our clients.”
Egis’ clients in Saudi Arabia include the Royal Commission of Riyadh City (RCRC), Neom, Seven, Qiddiya Investment Company, Diriyah Gate Development Authority, Red Sea Global, Soudah Development, the Royal Commission of Al-Ula (RCU), Saudi Downtown Company, Saudi Railway Company and Riyadh Airports.
With the addition of almost 700 professionals from Omrania, Egis in the Middle East region is expected to grow to over 3,000 people. In November last year, Egis announced the agreement to acquire the innovative, multidisciplinary design practice, U+A, headquartered in Dubai.
In January 2021, Egis CEO Laurent Germain told MEED in an exclusive interview that the plan was to double the company’s size by 2026, which means going from €1.2bn ($1.4bn) turnover in 2021 and 16,000 employees to €2.5bn ($2.8bn) turnover in 2026.
You might also like...
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.