The new office follows the launch of one in Qatar at the end of last year and is part of a growing presence in the Middle East for the company.
AES said it intends to open two offices in Saudi Arabia, one in the capital Riyadh and one in the Eastern city of Dammam. It added, that the plans are at an “advanced stage” and leverage relationships it has in Qatar where its local business is partnered with the ruling family.
Chief executive Sam Instone said the new office will aim to take advantage of the high rate of growth and encouraging demographics of the country.
“AES are 100% committed to the Middle East and the exciting market of Saudi Arabia,” said Instone. “We will continue to pursue our strategy of establishing a network of licenses which enable our advisory partners to develop underlying businesses upon the very strongest of foundations.”
Based in Commercial Bank Plaza, the new Qatar operation meanwhile, will target clients with international, cross-border and multi-jurisdictional requirements.
Instone said the growth and success of Qatar has attracted a large international workforce who expect to receive UK standard advice from “legitimately incorporated, locally based, onshore subsidiaries”.
