Louis Berger MENA project backlog hits $500mn
Project management firm also close to tying up new deals
Louis Berger says its project backlog in the MENA region has hit the $500mn barrier.
The US-based project management firm, whose regional headquarters are in Reem Island, Abu Dhabi, said the overwhelming majority of this work was in the GCC.
Louis Berger opened a regional office in November 2012 and has since doubled its workforce to approximately 800.
Impressive contract wins in the last three years on major projects such as the Riyadh Metro and Doha Metro have helped to swell its coffers.
Louis Berger International president, Jim Stamatis, said the MENA region now accounts for 11-12% of group revenues compared to 5-6% five years ago.
"We've won as much work as we expected but the next phase of this is to broaden the client base and the service offering," he said.
MENA senior vice president Tom Topolski, added: “The GCC right now happens to be the Silicon Valley of development projects.”
“There’re a lot more opportunities out there,” he said. “There’s the Jeddah Metro, Makkah Metro, Dammam, and there’s going to be additional packages in Dubai. We’re tracking all of that plus one of our teams is bidding on the Oman national rail project – that’s still under evaluation.”
Stamatis said Louis Berger is close to sealing a major deal in Dubai but refused to elaborate on the details. The firm is currently in the final stages of registering an office in the Emirate.