Sheikh Mohamed Al Fouzan
With the Kingdom of Saudi Arabia allocating 37% of a proposed record budget of $218.7bn for 2013 on social infrastructure projects like schools and hospitals, Al Fouzan Trading & Contracting is set to taken a huge step forward over the coming year.
The company, which was founded over 50 years ago, is run by chairman Sheikh Mohamed Abdullah Al Fouzan.
On its record so far Al Fouzan deserves his place in the Power 100 this year, but his company is set to for greater heights and expansion.
It is building three medical towers at King Saud Medical City, at Prince Salman Hospital and at the Al-Imam General Hospital – all of which are in the company’s home city of Riyadh.
It also landed the $170m contract to build the first phase of the King Faisal Medical City at Abha in the Kingdom’s Southern Province in February last year.
The company, which employs more than 7,000 staff, offers a range of construction and advisory services and has also invested in several property ventures including residential, office and medical facilities.
It has its own cement and paints factory and has invested in other building-related chemicals plants. It has also gained approved contractor status from many of the Kingdom’s biggest businesses including Saudi Aramco, Arab Oil Co, Saudi Telecoms and Saudi Electricity Company.