Fakher Al Shawaf
Fakher Al Shawaf’s Al Bawani performed solidly in 2015. The Saudi Arabian contractor achieved revenues of $320m (SAR1.2bn) last year, of which 8% was profit. The company’s project backlog currently stands at $1.06bn (SAR4bn), equivalent to approximately four years of stable revenues. Even more encouragingly, Al Shawaf told Construction Week that the firm expects to sign a contract valued at $2.7bn (SAR10.2bn) during the coming months. The deal will involve the development of two medical cities in the kingdom. Al Bawani was the lowest bidder during the tender process and is now in advanced discussions over project specifications, the general manager said.