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2018 CW Power 100 Preview: Saudi Binladin's chief returns despite turmoil

Despite a tumultuous year, Saudi Binladin Group's chairman, Bakr Bin Laden, remains one of Middle East construction's most influential personalities

Saudi Binladin Group's Bakr Bin Laden returns to the 2018 Construction Week Power 100.
Saudi Binladin Group's Bakr Bin Laden returns to the 2018 Construction Week Power 100.
Bakr Bin Laden, chairman of the Saudi contracting giant, is one of the Middle East construction sector's most influential personalities.
Bakr Bin Laden, chairman of the Saudi contracting giant, is one of the Middle East construction sector's most influential personalities.

Bakr Bin Laden, chairman of challenge-hit Saudi Binladin Group (SBG), appears for another successive year in Construction Week's Power 100 ranking for 2018. 

It’s been a tumultuous year for SBG, following job cuts claims and a broad restructuring process that could see the Saudi Arabian government take a 35% stake in the company, according to a report by Reuters.

READ: Middle East leaders must learn from Saudi Binladin and UAE's BICC

The regional contracting behemoth reportedly even had to take out an emergency $2.9bn (SAR10.8bn) government loan to pay for the wages of its staff in April.

In the wake of a tumultuous start to 2018, Bin Laden has kept the ship relatively strong and stable, as the company continued to win new work.

This included a contract to build a palace within the massive $500bn Neom development in Saudi Arabia, which is touted by many as the most ambitious project in the world.

The 2018 Construction Week Power 100 is the annual ranking of the Middle East’s most influential construction leaders, and will be revealed across Construction Week’s print, digital, and video channels by 30 June.

Scroll down to watch the 2018 Construction Week Power 100 Preview, and visit Construction Week’s YouTube channel to catch our full Power 100 playlist.

Click here to check out the 2017 Construction Week Power 100. 

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Construction Week - Issue 753
Nov 09, 2019