The company said Asheil will serve destination-scale projects, including the Saudi giga-projects, and the local wholesale market
Versatile International, which claims to be the Middle East’s first fully integrated stone project management consultancy, announced the establishment of a new company to manufacture lighting technologies in Saudi Arabia.
The new facility, Asheil Versatile Lighting Technologies, is an end-to-end lighting manufacturer that also provides consultancy and planning services for large-scale lighting installations. The company said Asheil will serve destination-scale projects, including the Saudi giga-projects, and the local wholesale market.
“Asheil aims to kindle a new lighting technology sector in Saudi Arabia and establish the kingdom as a producer of world-class lighting technologies,” said Marco Fahd, Group Chairman and CEO of the Versatile Group and co-founder of Asheil.
“Asheil combines the project governance expertise of Versatile International with the manufacturing capabilities of our partner, Haneco,” he added.
Fahd said the company’s unique service offer is designed to address the disparity in the market, insulate Saudi Arabia from global supply chain challenges, and support the kingdom’s signature development projects in delivering against Vision 2030.
In its first phase, Asheil will build a 5,000 sqm manufacturing facility in Sudair City for Industry and Businesses, 120 km northwest of Riyadh.
Eventually, the company plans to have 20,000 sqm of factory space, manufacturing bespoke lighting installations tailored to the specific needs of Saudi Arabia’s biggest development projects.
The kingdom currently imports around $1.4 billion (SAR5.25 billion) in lighting equipment per year, according to data from the Observatory of Economic Complexity.
