HanmiGlobal lands series of orders from Saudi's Neom city project

HanmiGlobal Co. on Monday said it has earned contracts for the construction and development of Neom, the urban development project seeking to build the world's largest new city from scratch in Saudi Arabia.

HanmiGlobal recently won the contract to build residential facilities for workers in the project. Last month, the company received a letter of intent for the project's monitoring service and began work, and is now devising the main agreement.

The complex will cover 26.4 million square meters and include accommodations, sports and entertainment facilities, restaurants, medical centers, mosque, multi-purpose buildings and other venues.

Construction of 489,500 lodging units is planned, and HanmiGlobal will take part in building 50,000 of these units for 9 billion won ($6.7 million).

Through June 2024, the company will review project design, contracting, and construction, monitor site safety and environmental management, management of defect disposal after completion and inspection after approval for use, and mediation of construction-related disputes. It is also seeking a second order from the complex.

In addition, HanmiGlobal was informed of its successful bid for developing Neom's document management system earlier this month and is pushing for a contract.

By October 2024, the proposed city plans to set up a document management policy and system in the design and construction sector, efficiently manage e-documents and printed materials and run a project management information system, and provide support for training and using the system by employees.

HanmiGlobal's British subsidiary Walker Sime also won an order for the Neom The Line project, one of the pillars of the new city, for support tasks such as strategic positioning, marketing in key areas, financing and business planning.

The affiliate signed a deal in the form of a comprehensive master contract to set the agreement's content and amount at the service execution stage.

Write to Jong-Pil Park at jp@hankyung.com