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

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

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