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France-based engineering consultancy Egis Group announced on Thursday that it has entered into a definitive agreement to acquire Saudi architectural and engineering consultancy Omrania.
Founded in 1973, Riyadh-headquartered Omrania has built a strong reputation for its integrated and interdisciplinary approach to architecture, master planning, urban design, landscape and engineering services, Egis said in a press statement.
The transaction, which is expected to close in the first half of 2023, is subject to the satisfaction of customary closing conditions, including regulatory approvals.
Omrania participated in numerous landmark projects throughout Saudi Arabia, including the Tuwaiq Palace, Kingdom Tower, King Abdulaziz Cultural Center, King Salman Park, multiple Ministry of Housing projects and the iconic Public Investment Fund (PIF) Tower.
Laurent Germain, Group CEO of Egis, said: "With the addition of Omrania, Egis will create a true leadership position in high-end design and architecture services in Saudi Arabia. Together with Omrania’ s team, we have a shared vision to design sustainable and contextual environments that enrich the quality of everyday life."
Basem Al-Shihabi, Founder and Managing Partner of Omrania, said: "Egis and Omrania have been working together since 2013 and this step will surely bring together the best that both offer to our clients and ourselves."
In November last year, Egis announced the agreement to acquire the innovative, multidisciplinary design practice, U+A, headquartered in Dubai. The firm roster of clients include The Royal Commission of Riyadh City (RCRC), NEOM, SEVEN, Qiddiya Investment Company, Diriyah Gate Development Authority, Red Sea Global, Soudah Development, The Royal Commission of AlUla (RCU), Saudi Downtown Company, Saudi Railway Company, and Riyadh Airports.
With the addition of almost 700 professionals from Omrania, Egis in the Middle East region is expected to grow to over 3,000 people.
(Writing by SA Kader; Editing by Anoop Menon)
