Ssangyong E&C Secures Potential KRW 3.6 Trillion Dubai Development Pipeline
Ssangyong Engineering & Construction has entered into a strategic partnership with Dubai-based Wasl Group, securing a potential development project pipeline worth approximately KRW 3.6 trillion over the next three years as the Korean builder seeks to expand its presence in the Middle East.Ssangyong E&C said Wednesday that the agreement is aimed at strengthening its long-standing partnership with…
Ssangyong Engineering & Construction has forged a strategic partnership with Dubai-based Wasl Group, potentially unlocking a development project pipeline valued at around KRW 3.6 trillion over the next three years. The collaboration aims to bolster Ssangyong E&C's foothold in the Middle East, with the two firms having a longstanding relationship since 2017.
This partnership extends beyond individual construction projects to encompass residential developments, hotels, and mixed-use projects. Since 2023, Ssangyong E&C has secured several projects in Dubai, including Immersive Tower, Kifaf development, and Creek Waters, with a combined value of approximately KRW 1.4 trillion. The agreement is expected to amplify Ssangyong E&C's position in Dubai by harnessing its established construction expertise and local business network, rather than solely relying on individual construction orders.
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