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New York Stock Exchange-listed Parsons Corporation expects continued growth in the UAE's transportation and urban development markets.
In its first quarter 2025 results, the company said it won a follow-on programme and construction management contract in Dubai valued at more than $200 million.
It also bagged a five-year $49 million mixed-use urban development project in Saudi Arabia, which includes design and construction supervision services.
Parsons said its Middle East business grew but was impacted by the timing of holidays and the new business ramp.
Large long-term contracts and recent wins in the Middle East are expected to drive additional growth in the second quarter of 2025 and continue for several years, the statement said.
(Writing by P Deol; Editing by Anoop Menon)
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