KPM Engineering doubles revenue growth in 2022 with 30 per cent of its GCC projects based in KSA

(MENAFN- IHC) Global multidisciplinary engineering company, KPM Engineering (KPM), has announced achieving a record year in 2022 with a 100 per cent increase in revenue growth across the business. KPM secured 6 million square feet of projects in Saudi Arabia, with 30 per cent of all the organisation’s GCC projects based in the Kingdom last year.

Saudi Arabia will remain a focus in 2023 for KPM, which forecasts projects in the Kingdom will account for 50 per cent of the organisation’s total GCC projects in 2023. In response to increased demand for KPM’s services in Saudi Arabia, the organisation will manage these projects from its first Saudi-based office, which will be fully operational this summer.

According to Saudi Build, Saudi Arabia’s construction sector grew by 8.8 per cent in 2022, the highest year-on-year increase on record to date, with the country’s GDP totalling USD182.2 billion. Saudi Arabia’s construction sector is expected to continue growing, with an anticipated annual average growth rate increase of four per cent until 2026, as reported by Global Data. In 2023, KPM will focus on hospitality, residential and mixed-development projects in the Kingdom, working alongside international architecture firms such as DSA Architects International and RMJM, including DoubleTree, a USD151 million international hotel in Jeddah, an integrated residential and retail development in Riyadh, and a 4.5 million square foot mixed-use project in Makkah.

To support the organisation’s rapid growth, KPM doubled the size of its team of multidisciplinary engineering specialists with 175 employees globally. In addition to opening an office in Saudi Arabia to support the surge in projects in the Kingdom, KPM also plans to increase the size of its international team to 300 employees by the end of 2024 and invest in the employment of local talent in key markets, such as Saudi Arabia.

John Guest, KPM’s director, commented on the company’s recent growth: “The significant growth we have achieved over the last year is evidence of the thriving construction sector across the Middle East. Saudi Arabia is a key focus area for KPM and we aim to continue on our growth trajectory, increasing the number of projects in the Kingdom to make up half of our total global projects. The opening of our office in KSA will be critical to our ongoing success and we look forward to supporting the Kingdom in achieving its Vision 2030 goals. We have had great success across the Middle East and globally, and we’re confident we will exceed our growth plans for 2023 with all of the notable projects currently in our pipeline.”

Kashif Fakih, director at KPM, attributes the company’s continued success to its service approach, expert engineers, and long-term value partnerships with international architects and developers, saying: "KPM would not be where it is today without our committed team, increased focus on automation, and concentration on the design and development of intelligent, innovative, and sustainable buildings. As a multidisciplinary global engineering firm, we are proud to have some of the world’s leading talent working with us. Our team is not only highly skilled, but is also passionate about exceeding client expectations and going above and beyond what is required. Working with global architecture firms to aid in delivering projects using advanced yet cost efficient engineering methodologies while not compromising design standards is integral to KPM and the ongoing success of our key stakeholder relationships for the years ahead.”

KPM provides engineering solutions for regional and international projects across a diverse range of sectors. Hospitality ranked as the organisation’s best-performing sector in terms of the number of projects won and revenue growth in 2022. In 2023, KPM will focus on mixed-use development projects and anticipates these projects will fuel the company’s continued growth. Once KPM’s Saudi-based office is operational, the organisation plans to open additional offices to support international projects, including one in the UK.

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