Hyundai, KONE secure big contracts

IssueQ4 Print

Riyadh Project Leads Spate of Orders for Hyundai

Hyundai Elevator has released details of its contract for Security Forces Medical City (SFMC) in Riyadh, Saudi Arabia. The US$30-million deal from the Saudi Arabian government is to outfit it with 284 elevators and 24 escalators. This includes seven geared elevators with capacities of at least 2000 kg, 10 gearless elevators and 78 machine-room-less elevators. Most of the elevators are sized larger than normal.

The large-scale medical complex will be the biggest of its kind in Persian Gulf countries. It will have 400,000 m2 of medical facilities and 500,000 m2 of residential areas. Speaking of its largest Saudi Arabian project, Hyundai noted, “The fruit of a long wait was sweet.” It has been engaged in active sales activities in the country since 2014, receiving its first inquiry for this project in August of that year.

Hyundai has also secured other important projects around the world since December 2016, including:

  • Turkey: Erzurum Healthcare Complex, a medical complex in Erzurum owned by HEKTAS, for 50 elevators and six escalators, and Inanlar Terrace Lotus, an office/shopping-center tower in Istanbul owned by INANLAR, for eight elevators and four escalators
  • Vietnam: 219 Trung Kinh, an apartment/office tower in Hanoi owned by Bac Ha, for 17 elevators
  • Indonesia: VOZA Premium Office Tower in Surabaya’s Central Business District for 12 elevators
  • Saudi Arabia: RD-477, a technical college in Riyadh owned by Attejarat Co., for 15 gearless elevators
  • Philippines: Bacolod Capitol Central Mall, a shopping center in Bacolod owned by HYCO, for four elevators and 22 escalators

KONE in Eight Projects

KONE has announced winning an order to supply 153 elevators in eight different projects commissioned by Alargan Projects in Saudi Arabia. The order was booked in the third quarter of 2016 and includes projects in Dammam, Yanbu, Riyadh and Al Jubail. Among them are Al Suhool Strip Mall, Al Rehab Strip Mall, Green Oasis Residential Buildings and Murooj apartments. Andrew Brosnan, portfolio manager at Alargan Projects, said the projects will lead to the development of many residential and commercial units in the Saudi Arabian market.