Nesma & Partners: Everything You Need to Know About the Company

Nesma & Partners was established as one of the core pillars within the Nesma Holding Group, which is one of the most prestigious economic conglomerates in Saudi Arabia. The company launched in the early 1980s and was placed at the heart of the group's strategy to focus on construction, infrastructure, and major industrial projects from the outset. Over the past decades, Nesma & Partners has executed large-scale projects across various sectors, including roads, bridges, government buildings, hospitals, factories, and power plants. It has contributed to strategic government projects, such as oil and petrochemical complexes in collaboration with major companies like Aramco and SABIC. Thanks to its strong track record in managing mega-projects, Nesma & Partners has gained the trust of both government and private entities, gradually expanding both locally and regionally, becoming one of the leading contracting service providers in the Kingdom. Through its partnerships with global companies and its engineering expertise, the company has kept pace with technological advancements and quality requirements, solidifying its position in the Saudi market and the region.

Recent statements from the executive management indicate that Nesma & Partners currently manages a project portfolio valued at nearly 40 billion Saudi Riyals. This portfolio includes a wide range of mega-projects encompassing infrastructure (such as highways and bridges), energy projects (power and desalination plants), industrial projects (oil and petrochemical facilities), and civil projects (government, educational, and health buildings). Among the notable recent projects the company has participated in is the 'Clean Fuel and Aromatics Complex' in Rabigh, a massive strategic project for Saudi Aramco in the refining and petrochemical sector. Nesma & Partners also stands out in large transportation projects such as the Haramain High-Speed Railway and the Riyadh Metro. The expansion of the project portfolio reflects the company's capability to manage diverse and large contracts simultaneously, giving it a competitive edge in the Saudi market, where demand for high-efficiency contracting companies with a successful track record in delivering major projects is increasing.

Nesma & Partners is managed by the Nesma Holding Group, which is owned by the Saudi Al-Asiri family. The company's board of directors is responsible for setting major strategies, while a professional executive team with local and international expertise manages daily operations. The senior management focuses on achieving measured growth, enhancing operational efficiency, and opening up expansion avenues through local and international partnerships. To date, Nesma & Partners has not been listed on the Saudi stock market, and there is no public ownership of its shares. However, recent studies indicate that the company is considering an IPO to increase capital and provide greater financial flexibility for future projects. If listed, the company is expected to disclose its ownership structure in detail within the official prospectus according to the requirements of the Saudi Capital Market Authority.

The Saudi contracting sector represents one of the pillars of the national economy, especially amid national transformation projects and Saudi Vision 2030. The sector is witnessing a surge in government investments in infrastructure, transportation, energy, and housing projects. Major contracting companies like Nesma & Partners play a pivotal role in executing these projects, benefiting from the increasing demand for engineering and construction services. However, the sector faces challenges such as fluctuations in raw material prices, rising labor costs, and price competitiveness among local and international companies. Nevertheless, experienced companies with strong financial stability like Nesma & Partners have the ability to adapt to these changes and seize available opportunities. In recent years, the sector has seen the entry of major foreign companies, but collaboration and alliances with local contractors remain a crucial factor for the success of major national projects.

Nesma & Partners has contributed to the execution of some of the largest national projects in Saudi Arabia. Among these projects are the Clean Fuel and Aromatics Complex in Rabigh, infrastructure projects for the metro and Haramain High-Speed Railway, industrial constructions for Aramco and SABIC, and water desalination and energy plants. The company has also participated in the development of airports, hospitals, schools, and public facilities. Its expertise in managing integrated projects (from design to delivery) has made it the preferred choice for many government entities and major companies. These projects are not limited to construction alone but also include advanced engineering solutions, smart control systems, and safety and quality management according to the highest global standards. Nesma & Partners' contributions to these projects have enhanced its operational capabilities and earned it a strong reputation both locally and regionally.

As part of its growth strategy, Nesma & Partners announced in July 2025 a potential strategic acquisition of Al-Yusr Industrial Contracting Company, with advisory assistance from EFG Hermes Investment Bank. This move aims to enhance the company's capabilities in the industrial contracting and construction manufacturing sector and increase its competitiveness in major projects. Additionally, Nesma & Partners has expanded regionally, establishing branches and subsidiaries in Gulf countries and North Africa, and in 2023, it acquired KENT in Dubai, which gives it an increasing regional presence and opportunities for collaboration on multinational projects. These expansions reflect the company's vision to secure diverse income sources and reduce reliance solely on the local market while maintaining quality execution and adherence to safety and quality standards.

Nesma & Partners is currently considering an IPO on the Saudi financial market (Tadawul), which may occur in 2025 according to official statements. The listing represents a strategic step that allows the company to raise new liquidity, support expansion plans, and enhance transparency and governance. The listing process is expected to include the publication of detailed financial data, dividend distribution policies, and ownership structure. Listing on Tadawul also provides the company with the opportunity to attract new local and international investors, enhancing its position in the Saudi contracting sector. Conversely, challenges arise regarding compliance with financial disclosure requirements, strengthening internal governance systems, and dealing with fluctuations in the financial market. It is important for any investor or observer of the company to await the publication of the official prospectus to review financial details before making any decisions.

Since Nesma & Partners has not yet been listed on the financial market, its detailed financial data (such as revenues and profits from recent quarters, growth rates, profitability) is not publicly available. The currently available information indicates a project portfolio size of approximately 40 billion Riyals, which is an indirect indicator of the scale of business and activity. The company is expected to provide detailed financial statements, including revenues, profits, cash flows, and financial position, as the IPO approaches. This data will be essential for assessing the company's financial performance and comparing it with competitors. Until then, it is advisable to follow the company's news and official press releases to stay updated on any developments regarding expected financial performance.

Nesma & Partners competes with several major companies in the Saudi contracting sector, including Saudi Binladin Group, Al-Mabani (formerly Al-Muhidab), Al-Haitham Holding (Arab Contractors), and Omran Al-Jazeera Development. Nesma & Partners is distinguished by its ability to manage large and diverse projects and its adoption of integrated engineering solutions, while some competitors focus on specific sectors or smaller projects. Competition also extends to major global companies such as Bechtel and China State Construction, which often enter the Saudi market through alliances with local contractors. In this competitive landscape, Nesma & Partners relies on its strong track record in delivering projects on time and according to specifications, in addition to its regional expansion and investments in technology and qualified personnel.

Nesma & Partners has witnessed significant developments over the past two years, including the announcement of its intention to list on the Saudi financial market, the expansion of its project portfolio to 40 billion Riyals, the Al-Yusr Industrial Contracting acquisition deal, the execution of major strategic projects (the Clean Fuel and Aromatics Complex in Rabigh), and regional expansion through the acquisition of KENT in Dubai. These developments reflect the company's dynamism in responding to market changes and its ongoing efforts to enhance its leadership position. They also indicate long-term planning to increase capital, diversify income sources, and improve operational efficiency by leveraging modern technologies and strategic partnerships. The success of these steps depends on the management's ability to meet regulatory requirements and seize opportunities in a timely manner.

The projects under Saudi Vision 2030 represent the largest umbrella for growth in the contracting and infrastructure sector. Nesma & Partners directly benefits from the volume of government investments in transportation, smart cities, renewable energy, and housing projects. Projects like NEOM, the Red Sea, Qiddiya, and the high-speed train all provide massive opportunities for infrastructure contractors. Nesma & Partners' ability to execute complex projects and provide advanced engineering solutions makes it a preferred partner for many government and private entities in these projects. With its diverse project portfolio and readiness for expansion, the company remains well-positioned to capitalize on the economic momentum accompanying Vision 2030, while ensuring compliance with the environmental and technical standards required for these future projects.

Despite the significant opportunities ahead for Nesma & Partners, there are several challenges that need to be addressed efficiently, including rising costs of raw materials and labor, fluctuations in the global and local economy, fierce competition from local and international companies, and increasing quality and safety requirements in large projects. Additionally, the listing on the financial market entails a greater commitment to governance and transparency, necessitating the development of internal systems and disclosure policies. Regional expansion also poses challenges in managing multiple projects in different regulatory and legal environments. The company's ability to effectively address these challenges will determine its success in maintaining sustainable growth and achieving its long-term strategic goals.

Nesma & Partners places increasing importance on sustainability and social responsibility concepts. The company seeks to implement best environmental practices in its projects, both in terms of energy and resource efficiency and waste management. It is also committed to training and qualifying national personnel and supporting social initiatives within the communities in which it operates. Sustainability is no longer an option but an essential part of the requirements for major projects, especially with the Kingdom's direction towards a green economy and renewable energy. The company relies on clear policies to ensure a safe and healthy work environment and to develop strong relationships with suppliers and partners, enhancing its reputation and achieving sustainable development goals.