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French Egis To Adopt Saudi Engineering Firm Omrania | |
| Sumita Pawar |
According to the report, Egis is set to acquire Saudi engineering firm Omrania.
French engineering and consulting firm Egis Group has entered into a definitive agreement to acquire Omrania, a Saudi Arabian architectural and engineering consultancy, according to the report.
The deal is set to close in H1 2023, subject to regulatory approvals and other closing conditions.
Omrania has been working on projects in Saudi Arabia for 50 years. It was started in 1973 and has its headquarters in Riyadh.
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The company offers a wide range of design services, from conceptual studies to construction site supervision. It works in architecture, master planning, urban design, landscape design, and engineering.
Its clients include government entities, cultural institutions, the private sector, and other organizations. Omrania’s notable projects include the Kingdom Tower, the King Abdulaziz Cultural Centre, and the Public Investment Fund Tower, among others, as mentioned in the report.
Laurent Germain, the Group CEO of Egis, says that when Egis buys Omrania, it will become the leader in Saudi Arabia for high-end design and architecture services.
Germain also said that the two firms have the same goal of making environments that are sustainable and fit their surroundings and improve the quality of everyday life. Egis has worked with Omrania since 2013, and the acquisition is expected to bring together the best of both firms to deliver world-class architecture and engineering design projects.
Omrania's founder and managing partner, Basem al-Shihabi, was excited about the acquisition. He said that it brings together two leaders in the field and makes the company's dream of lasting forever come true.
Alaa Abusiam, the CEO of Egis in the Middle East and South Asia, said that Omrania's deep knowledge of the local market and innovative approach to engineering, landscape, and architecture will help Egis grow quickly as a partner of choice for clients in Saudi Arabia.
According to the report, Egis’ clients in Saudi Arabia include the Royal Commission of Riyadh City, Neom, Seven, Qiddiya Investment Company, Diriyah Gate Development Authority, Red Sea Global, Soudah Development, the Royal Commission of Al-Ula, Saudi Downtown Company, Saudi Railway Company, and Riyadh Airports.
The addition of almost 700 professionals from Omrania is expected to grow Egis in the Middle East region to over 3,000 people.
Egis announced the acquisition of multidisciplinary design practice U+A, headquartered in Dubai, in November 2021, and CEO Laurent Germain has previously stated that the plan is to double the company’s size by 2026, from €1.2bn ($1.4bn) in turnover in 2021 and 16,000 employees to €2.5bn ($2.8bn) in turnover in 2026.