Egis and Projacs seal strategic deal to develop Middle East opportunities

Egis has acquired 51 per cent of Projacs, the leading project and construction management firm in the Middle East, in a strategic partnership to develop new opportunities in the territory. Founded in 1984, Projacs offers a wide and integrated range of project management services mainly relating to building projects. The firm is firmly established in the Gulf Cooperation Council (GCC) countries (Saudi Arabia, Bahrain, Oman, Qatar, United Arab Emirates and Kuwait) and also operates in neighbouring countrie
July 31, 2015 Read time: 2 mins
7319 Egis has acquired 51 per cent of Projacs, the leading project and construction management firm in the Middle East, in a strategic partnership to develop new opportunities in the territory.

Founded in 1984, Projacs offers a wide and integrated range of project management services mainly relating to building projects. The firm is firmly established in the Gulf Cooperation Council (GCC) countries (Saudi Arabia, Bahrain, Oman, Qatar, United Arab Emirates and Kuwait) and also operates in neighbouring countries.

With over US$2500 billion-worth of projects under planning, bidding or execution across the MENA region, both Egis and Projacs see significant opportunities for partnership and have over the past few months began sharing resources and capabilities as well as developing joint approaches for business development.

Egis has been present in the Middle East for several years and holds the view that the region is a high-potential global market in a large number of fields such as infrastructure, buildings, water, energy and urban development. Seven per cent of its 2014 turnover was generated in the Middle East.

“We are proud of Egis’ ongoing successes in the Middle East and are confident about our outlook in this promising region. To cement our commitment and build a sustainable business cluster, we thought critical to partner up with an established player in the Middle East. The integration of Projacs within Egis will allow the group to round out its project management expertise in the Middle East region and reinforce its position on projects in the fields of buildings and urban development” commented Nicolas Jachiet, chairman and CEO of Egis.

“With 20 offices across the MENA region, Projacs has an unparalleled coverage of the region and an unmatched track record in project and construction management services, particularly in relation to buildings in the Middle East. We expect this strategic partnership to be highly beneficial to both firms as we each leverage on the complementary strengths and capabilities of the other” commented Dr Nabil Al-Qaddumi, founder and chairman of Projacs.

For more information on companies in this article

Related Content

  • Oxbotica raises $140m for AV software
    January 16, 2023
    Funding will be used to grow in North America and to pursue driverless passenger transport
    Read More
  • Bosch to acquire 5% indirect ownership stake in Here Technologies
    January 8, 2018
    Bosch is acquiring a 5% ownership stake from Here Technologies’ (Here) indirect shareholders Audi AG, BMW Group and Daimler AG to help boost its services business. The deal also assists Here in its goal of becoming a global provider of data-based real-time location services to clients within and outside of the automotive industry. It is expected to be concluded by the end of the first quarter of 2018. Both parties have agreed not to disclose the purchase price of the acquisition which is still subject to a
    Read More
  • Pile-up prompts Gulf States to counter fog menace
    September 23, 2014
    David Crawford investigates a promising development to counter the problem of fog in the Gulf States. Despite being a largely desert area with low rainfall, fog is a major driving hazard in countries on the Arabian peninsula, such as the UAE. The fog is the result of moist air moving across from the neighbouring Gulf during the afternoon and evening, and experiencing radiation cooling at night.
    Read More
  • Canada’s infrastructure sector set to be one of the best performing
    November 20, 2013
    In their latest findings on Canada’s infrastructure sector, Business Monitor has revised down their outlook for the overall construction industry in Canada for 2013 to 2.2 per cent. This is being driven by a sharper than expected contraction in industry value creation from the residential and non-residential building segment. Despite this, they anticipate a slight pick-up in the second half of the year will ensure that subsector maintains positive growth. On the other hand, infrastructure will post another
    Read More

Highlighted Content