Construction giant ALEC looks to replicate UAE success in Saudi Arabia

Dubai: One of the UAE’s biggest construction firms, ALEC is making headway in Saudi Arabia as it seeks pick up more of the big-ticket contracts. ALEC, which built the record-setting One Za’abeel twin towers in Dubai, is currently handling the Qiddiya Waterpark and Qiddiya Speedpark contracts in Saudi Arabia.

The Dubai-headquartered ALEC has been mentioned in media reports as a likely candidate for an IPO and listing on DFM. In recent years, the company has put together a growth story built around handling complex projects as well as through acqusitions.  

“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.

AJI Rentals, the company’s heavy equipment rental arm, established its presence in Saudi Arabia last year, while expanding its UAE presence with a new facility in Dubai.

The acquisition of TARGET Engineering has ‘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.

ALEC closed 2024 with a 29% revenue growth while expanding its workforce by a sizable 46% to about 40,000. There were also new facilities set up in Ras Al Khaimah. 

“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,” said Lewis. 

“In just two years, we have grown to be recognised as one of the most trusted construction firms in the Kingdom.”

One area the company will focus on is leveraging modular construction and MEP works. To this end, it set up large-scale production facilities in the UAE. ALEC aims to have 5% of its construction activities automated through advanced robotic solutions by 2030.

“We will continue to challenge perceptions of our industry with our advancements in technology utilisation,” 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.”