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EgyptAlareeb Holding Acquires 30% Stake in Pioneer Landmarks to Boost Saudi Growth
2 min
Alareeb Holding acquires a 30% stake in engineering consultancy firm Pioneer Landmarks.
The acquisition aims to strengthen Alareeb's presence in Saudi Arabia's consultancy and engineering sectors.
Alareeb Chairman emphasises the importance of integrated solutions in the expanding Saudi market.
Pioneer Landmarks' CEO highlights the partnership's potential to enhance operational effectiveness and growth.
This move aligns with Alareeb's vision to expand and improve organisational performance in key sectors.
Alareeb Holding has just wrapped up a key deal, snapping up a strategic 30% stake in Pioneer Landmarks, a prominent firm specialising in engineering consultancy across Saudi Arabia. This move follows their earlier memorandum of understanding signed back in February, reflecting the group's broader ambitions to strengthen its presence in the consultancy and engineering sectors both locally and regionally.
Ahmed Al-Obaid, Chairman of Alareeb Holding, described the acquisition as a major milestone in the company's investment plans, emphasising that it would foster greater integration across their services portfolio. He stressed the importance of developing comprehensive, integrated solutions, seeing significant opportunities for growth in Saudi Arabia's vibrant and rapidly expanding market. "The Kingdom," he observed, "is full of promising potential right now, and Alareeb remains committed to investing strategically in sectors that sharpen our competitive edge and create real value."
Meanwhile, Pioneer Landmarks' CEO Tarek Abanami appeared equally optimistic about this new partnership. He predicted joining Alareeb Holding's portfolio would unlock fresh possibilities, particularly in developing their internal management structure and boosting operational effectiveness. He noted that the partnership would enhance the company’s overall operational capabilities and poise it to achieve ambitious long-term goals.
For his part, Yousef Al-Yahya, CEO of the Alareeb Holding group, highlighted that such an acquisition perfectly aligns with their vision to expand within key areas of professional and consultancy services. He pointed out that these sectors play a crucial role in improving business environments and organisational performance, ultimately benefiting the broader economy.
When you look at partnerships like this, it often makes sense—as my mate from Arageek always used to say—to 'join forces rather than build bridges alone.' Clearly, these two businesses see a shared future full of potential.
This strategic step shows an appetite for growth and innovation in Saudi Arabia’s consultancy scene, marking yet anouther chapter of steady expansion for Alareeb Holding.
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