The Korea Herald


HanmiGlobal secures new housing deal for Saudi project

By Kim So-yeon

Published : March 15, 2023 - 15:54

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The corporate logo of HanmiGlobal (HanmiGlobal) The corporate logo of HanmiGlobal (HanmiGlobal)

South Korean construction management firm HanmiGlobal announced Wednesday that it has signed a new project management deal to oversee the construction of some 20,000 housing units for workers for Saudi Arabia’s Neom City project.

The latest deal comes following another deal it struck for building 50,000 homes in the workers’ residential complex in November last year.

The combined size of the two deals is worth about 15 billion won ($11.5 million), with the 70,000 homes set to be built by August 2024. The deals are part of a large-scale project to build a total of 489,500 lodging units on a 26.4-square-kilometer site in Tabuk, northwestern Saudi Arabia.

The company said it hopes to secure additional orders as more facilities for entertainment, health care and religious activities are set to be built around the area.

HanmiGlobal will be in charge of monitoring the whole process from the construction and project management to safety and environmental impacts to possible dispute settlements.

The company said it also plans to establish a document management system to facilitate construction work at the site by November next year. The company will operate a project management information system to efficiently manage electronic documents, while educating employees on how to use the system.

The company added it has also signed a separate deal to set up a document management system for the Neom project. The comprehensive document and information management system would ensure operational efficiency throughout the construction and monitoring of the project.

The company was the first Korean company to sign a project management office deal for the Neom City project in 2021, and has won bids for seven Neom City-related advisory services.