urban reinforces its growth in Saudi Arabia After signing agreements with the Ministry of Housing and Investments to build thousands of houses under the program of government Vision 2030, which aims build 75,000 homes and meet its objectives, of which the 70% are proprietary.
The agreement strengthens the Urbas position in Saudi Arabia and confirms its long-term strategy. This includes strengthening the direction of real estate development.
In the region, Middle East Urban, a subsidiary created to enhance the activities of the Group URBAS in the Gulf of Iran, works to offset a project of 1,000 to 1,500 homes in one of the promotions NHC in Riyadh.
This project will be carried out with the capabilities of a joint venture signed last August with ARKAL, a Saudi construction company owned by His Highness the Prince Sultan bin Abdullah bin Abdulaziz Al Saud.
The objective of this alliance is to participate in mega infrastructure projects. Even within the scope of programs Vision 2030 as Qiddiya Entertainment City, NEOM, Red Sea Project or Roshn, which further strengthen the position of ARKAL in the country, his leadership, globalization, experience and talent.
International projection
All of this broadens the projection of Urbas in the Middle East, which together with LATAM and Africa are strategic regions for the company, obtaining important commercial perspectives in other countries of the Gulf of Iran and in others commercial activities, such as infrastructures water, gas and renewable energy.
Internationally, in all its business areas, Urbas maintains a very relevant position, with around 30% of the works ongoing outside Valencia (Portugal, Panama, Colombia, Bolivia, Algeria and the United Arab Emirates) and some projects as unique such as the tourist and residential development of Cienfuegos in Cuba, the shopping complex and dubai offices, the train Cochabamba in Bolivia or the German embassy in Algiers.
"Urbas follows an upward projection that contemplates the objectives of a strategic plan that provides long-term certainty and contemplates the continuity of growth in the coming years," explains the company.
The goal is to achieve sustained organic growth to achieve global sales of more than 1,000 million euros and an EBITDA from around €150 million by 2025 in all lines of business with a goal of 2,000 million euros. We contributed to the achievement of the previous capital objective…
Impact of the agreement on Saudi Arabia
Saudi Arabia, a country in the Middle East, has recently signed a large agreement with Urbas, an engineering and construction company with US-based.
The multi-million dollar deal will allow Urbas build thousands of homes and participate in various larger projects within Saudi Arabia.
This agreement will have a substantial impact on both countries, particularly in terms of economic growth and stability.
For Saudi Arabia, this arrangement could be seen as a great victory for your economyas they can bring the experience and knowledge of an international company such as Urbas to help strengthen its infrastructure.
urban is bringing new technology to the country that can improve quality and safety of the housing projects, as well as benefit other large-scale development initiatives.
Conclusion: positive outlook
The signature of agreement between Urbas and Saudi Arabia reflects a positive outlook for both countries. The agreement stipulates the construction of thousands of homes, along with other large-scale projects that have been brewing for some time.
For urban, this agreement marks a great victory, as it is one of their most significant achievements since they first opened their doors to international Business.
This new agreement further solidifies its presence in the Middle East Y strengthens your reputation as a partner reliable within the region.
Secondly, Saudi Arabia You benefit from having access to the extensive experience of urban in engineering of construction and project management, which will help them deliver projects on time and on budget.