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Versatile International, a leading stone project management consultancy in the Middle East, has announced the establishment of Asheil Versatile Lighting Technologies. This new company is set to manufacture lighting technologies in Saudi Arabia, serving destination-scale projects and the local wholesale market.

Asheil’s Goal: Establishing Saudi Arabia as a Producer of World-Class Lighting Technologies

Asheil aims to create a new lighting technology sector in Saudi Arabia, providing end-to-end lighting solutions for large-scale projects. The company’s operating model is designed to increase supply chain transparency, decrease risk, and offer access to a comprehensive range of locally manufactured lighting products.

By combining project governance expertise with manufacturing capabilities, Asheil plans 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.

Facility and Plans

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 expand to 20,000 sqm of factory space, manufacturing bespoke lighting installations tailored to the specific needs of Saudi Arabia’s biggest development projects.

Market Projections and Opportunities

The launch of Asheil comes amidst projections of Saudi Arabia’s LED lighting market reaching $1.86 billion by 2030 from an estimated $923 million in 2022. The kingdom currently imports around $1.4 billion (SAR5.25 billion) in lighting equipment per year, presenting a significant opportunity for Asheil to capitalize on.

By providing locally manufactured lighting solutions, Asheil is poised to revolutionize Saudi Arabia’s lighting industry, supporting the kingdom’s vision for economic diversification and development.