Riyadh – Sharikat Mubasher: Alareeb Holding acquired a 30% stake in Pioneer Landmarks, a leading Saudi engineering consultancy firm, following a memorandum of understanding signed in February.
According to a recent press release, this move aligns with Alareeb's strategy to strengthen its presence in the consultancy and engineering sectors, both locally and regionally.
Ahmed Al-Obaid, Chairman of Alareeb Holding, called the acquisition a key milestone in the company’s investment journey. He emphasized its role in enhancing service integration and unlocking growth opportunities in Saudi Arabia’s dynamic market. "The Kingdom is brimming with potential, and we are committed to investing in sectors that sharpen our competitive edge and deliver real value," he said.
Pioneer Landmarks CEO Tarek Abanami welcomed the partnership, predicting it would improve the firm’s management structure and operational efficiency. He noted that these improvements would support Pioneer’s long-term growth ambitions.
Alareeb Holding CEO Yousef Al-Yahya underscored that the deal aligns with their vision to expand in consultancy services, a sector he described as vital for improving business environments and organizational performance.
This acquisition reflects Alareeb Holding's ongoing expansion efforts, reinforcing its role in Saudi Arabia’s evolving consultancy landscape.
