- TKE ALAT will build a 40,000 m² site in Dammam’s Third Industrial City to produce state-of-the-art elevators and escalators, with a training facility on site.
- The land lease agreement is with the Saudi Authority for Industrial Cities and Technology Zones (MODON).
- The contractor team is Advance Construction Solutions Company for Projects (ZODCON), which is a subsidiary of Advanced Building Industries Company “Senaat”.
- The advanced manufacturing facility will play a pivotal role in advancing Saudi Arabia’s Vision 2030 objectives and meeting growing urban mobility demand in Saudi Arabia and the wider Middle East and North Africa (MENA) region.
DUSSELDORF, Germany and RIYADH, Saudi Arabia, May 13, 2026 /PRNewswire/ — TKE ALAT, the joint venture between TK Elevator (TKE) a global leader in vertical and urban mobility and Alat, a Public Investment Fund (PIF) company building industrial capabilities in priority sectors, has confirmed the location and construction partner for its planned elevator and escalator manufacturing facility in Saudi Arabia. The 40,000–square–metre multi–purpose facility will be developed in Dammam’s Third Industrial City, under the management of the Saudi Authority for Industrial Cities and Technology Zones (MODON), with construction to be carried out by Advance Construction Solutions Company for Projects (ZODCON), a part of Advanced Building Industries Company “Senaat”. The facility is expected to be completed by the end of 2027.
This milestone marks a major step forward in realizing the €160 million joint venture established by TKE and Alat in August 2025. The multi-purpose facility is expected to be the first elevator and escalator manufacturing operation in Saudi Arabia by a global company. TKE will contribute advanced technology, manufacturing expertise and world-class safety methodology. The site is planned to serve as an innovation hub, featuring a product-development center and a training facility that complements TKE’s SEED Campus. Together, TKE and the JV are expected to create a regional International Technical Services team with the intent to provide technical support and third-party maintenance under the TKE Universal Service proposition. The partnership reinforces TKE’s dedication to improving urban life with innovative solutions and services for smart city mobility.
ABOUT TKE ALAT
TKE ALAT is a €160 million joint venture established by TKE, a global leader in vertical urban mobility and Alat, a Public Investment Fund (PIF) company building industrial capabilities in priority sectors. The company was formed in August 2025 to address the growing vertical urban mobility needs of Saudi Arabia and the wider Middle East and North Africa (MENA) region.
ABOUT TK ELEVATOR
TK Elevator (TKE) is a global leader in vertical transportation and urban mobility. We provide engineering that keeps the world moving, including design, installation, and maintenance of elevators, escalators, walkways, lifts, passenger boarding bridges, stairlifts, platform lifts and home elevators – including multi-brand modernization and service any place, any time. With TK Elevator’s AI and digital solutions there are no longer any limits to urban mobility. TK Elevator became independent following its separation from the thyssenkrupp group in 2020. The company achieved sales of €9.2 billion in fiscal year 2025. With around 50,000 employees, 25,000 service technicians and over 1,000 support centers globally, we are moved by what moves people. TKE – Move Beyond.
PRESS IMAGES
can be downloaded here (Source: TK Elevator).
PRESS CONTACT
TK Elevator GmbH
press@tkelevator.com
www.tkelevator.com
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