AECOM selected to deliver project management and engineering services for The Avenues
DALLAS — AECOM (NYSE: ACM), the trusted global infrastructure leader, today announced it has been appointed by Shomoul Holding Company as the Project Management Consultant (PMC) and engineer for Phase II of The Avenues – Riyadh, a transformative mixed-use development in North Riyadh City, Saudi Arabia, following the successful delivery of The Avenues Phase I. The Avenues aims to be one of the most prominent commercial and investment destinations in the Middle East, elevating Saudi Arabia's position as a regional hub for business, innovation and lifestyle.
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'We are honored that Shomoul Holding Company has entrusted us to extend our key role on The Avenues – Riyadh,' said Hamed Zaghw, chief executive of AECOM's Middle East and Africa region. 'This award is a testament to the transformational outcomes we are delivering for our clients across the Kingdom, and we are excited to shape a development that aligns with Vision 2030 and sets a new benchmark for mixed-use environments in the Middle East.'
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Valued at over $4 billion, the project spans 1,870,000 square meters of built-up area and 370,000 square meters of leasable area. It will include a luxury shopping mall and five towers featuring mixed-use functionalities such as hospitality, commercial and residential spaces. The Avenues – Riyadh is scheduled to open in early 2026.
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'This appointment builds on our track record of delivering complex, high-profile developments that shape the cities of tomorrow,' said Jason Kroll, chief executive of AECOM Arabia. 'Our integrated team brings deep regional experience, digital delivery capabilities and industry-leading expertise in sustainability, and we look forward to collaborating with our partners to bring this world-class destination to life.'
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AECOM will deploy advanced digital project management tools, data-driven dashboards and lean construction methodologies to optimize project tracking, enhance stakeholder communications, and proactively mitigate risks—setting new standards for project delivery in the region.
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About AECOM
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AECOM (NYSE: ACM) is the global infrastructure leader, committed to delivering a better world. As a trusted professional services firm powered by deep technical abilities, we solve our clients' complex challenges in water, environment, energy, transportation and buildings. Our teams partner with public- and private-sector clients to create innovative, sustainable and resilient solutions throughout the project lifecycle – from advisory, planning, design and engineering to program and construction management. AECOM is a Fortune 500 firm that had revenue of $16.1 billion in fiscal year 2024. Learn more at aecom.com.
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Forward-Looking Statements
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All statements in this communication other than statements of historical fact are 'forward-looking statements' for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, strategic value creation, capital allocation strategy including stock repurchases, risk profile and investment strategies, and any statements regarding future economic conditions or performance, and the expected financial and operational results of AECOM. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include, but are not limited to, the following: our business is cyclical and vulnerable to economic downturns and client spending reductions; potential government shutdowns, changes in administration or other funding directives and circumstances that may cause governmental agencies to modify, curtail or terminate our contracts; losses under fixed-price contracts; limited control over operations that run through our joint venture entities; liability for misconduct by our employees or consultants; changes in government laws, regulations and policies, including failure to comply with laws or regulations applicable to our business; maintaining adequate surety and financial capacity; potential high leverage and inability to service our debt and guarantees; ability to continue payment of dividends; exposure to political and economic risks in different countries, including tariffs and trade policies, geopolitical events, and conflicts; inflation, currency exchange rates and interest rate fluctuations; changes in capital markets and stock market volatility; retaining and recruiting key technical and management personnel; legal claims and litigation; inadequate insurance coverage; environmental law compliance and adequate nuclear indemnification; unexpected adjustments and cancellations related to our backlog; partners and third parties who may fail to satisfy their legal obligations; managing pension costs; AECOM Capital real estate development projects; cybersecurity issues, IT outages and data privacy; risks associated with the benefits and costs of the sale of our Management Services and self-perform at-risk civil infrastructure, power construction and oil and gas businesses, including the risk that any purchase adjustments from those transactions could be unfavorable and result in any future proceeds owed to us as part of the transactions could be lower than we expect; as well as other additional risks and factors that could cause actual results to differ materially from our forward-looking statements set forth in our reports filed with the Securities and Exchange Commission. Any forward-looking statements are made as of the date hereof. We do not intend, and undertake no obligation, to update any forward-looking statement.
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Media Contact:
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Brendan Ranson-Walsh
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213-996-2367
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Brendan.Ranson-Walsh@aecom.com
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Article content DALLAS — AECOM (NYSE: ACM), the trusted global infrastructure leader, today announced it has been appointed by Shomoul Holding Company as the Project Management Consultant (PMC) and engineer for Phase II of The Avenues – Riyadh, a transformative mixed-use development in North Riyadh City, Saudi Arabia, following the successful delivery of The Avenues Phase I. The Avenues aims to be one of the most prominent commercial and investment destinations in the Middle East, elevating Saudi Arabia's position as a regional hub for business, innovation and lifestyle. Article content 'We are honored that Shomoul Holding Company has entrusted us to extend our key role on The Avenues – Riyadh,' said Hamed Zaghw, chief executive of AECOM's Middle East and Africa region. 'This award is a testament to the transformational outcomes we are delivering for our clients across the Kingdom, and we are excited to shape a development that aligns with Vision 2030 and sets a new benchmark for mixed-use environments in the Middle East.' Article content Valued at over $4 billion, the project spans 1,870,000 square meters of built-up area and 370,000 square meters of leasable area. It will include a luxury shopping mall and five towers featuring mixed-use functionalities such as hospitality, commercial and residential spaces. The Avenues – Riyadh is scheduled to open in early 2026. Article content 'This appointment builds on our track record of delivering complex, high-profile developments that shape the cities of tomorrow,' said Jason Kroll, chief executive of AECOM Arabia. 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