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KONE Areeco Ltd

KONE Areeco Ltd is KONE's elevator and escalator company operating in Saudi Arabia, with a head office in Riyadh and a registered headquarters building in the Rawdah area of Jeddah. It supplies, installs and maintains elevators, escalators, automatic doors and building access/monitoring systems for residential, commercial and public buildings across the country.

241 public people · 9 tender wins · 28 verified market signals

CountrySaudi Arabia
RegionGulf (GCC) · Middle East · EMEA
KONE deskMiddle East, Turkey & Africa (within Asia-Pacific, Middle East and Africa)
HeadquartersKing Fahad Road - Olaya District, Al Hamad Tower - Floor 8, Riyadh, Saudi Arabia
Employees550
Fleet (est.)~25,000 units
Revenue (Vertisk estimate)~US$85M (FY2025, est.)
Market positionHistorical Vertisk April 2026 anchor (underlying primary source, measurement year and scope not established): approximately €200M (~$220M) revenue, 550 employees, 25,000 service units and 14% market share for KONE Saudi operations. Treat these as unverified estimates, not filed actuals; they should not be combined with the separate FY2025 $85M country-model estimate. The source also names King Fahd Airport modernization in November 2024 and ranks Saudi within KMTA; these details require independent verification. KONE's 2025 annual review reports a 50% group holding in KONE Areeco Limited; ownership and operating control should not be conflated.
Operates inSaudi Arabia
Websitehttps://www.kone.com

Public people

People & organisation

Across tracked career histories this company is hiring more people than it is losing — 50 tracked people, 857 reactions earned on their posts, 9 in leadership roles, a median 1.5 years in role, 17 external hires, 17 internal promotions, 3 tracked departures over the last two years.

Recent arrivals and where they came from

Where their people come from

Where leavers went

Who is heard in the market

Based on tracked public career histories linked to this company and refreshed weekly. This is a sample of the organisation, not its headcount.

Tender wins (9)

All 9 lift contracts.

Market signals

Who wins lift work in Saudi Arabia

242 tender notices · independents hold 86% of named wins

By type of work

Saudi Arabia by type of work

Saudi Arabia market

Saudi Arabia national portal — tenders.etimad.sa

851 lift notices published on Saudi Arabia’s own procurement portal, shown in the original language.

Other elevator companies in Saudi Arabia