Agreement Signed in Seoul
Al Futtaim Contracting has formally struck an exclusive distribution agreement with Hyundai Elevator, marking a notable move in Saudi Arabia’s vertical transportation space. The deal grants Al Futtaim Contracting sole rights to supply, install, and maintain Hyundai’s full elevator and escalator product line within the Kingdom.
The signing took place at Hyundai Elevator’s headquarters in Seoul, South Korea. The agreement was inked by Murali S, Managing Director of Al Futtaim Contracting, and Yum Kyu Sang, Head of Global Sales at Hyundai Elevator.
Visit to Hyundai’s Smart Campus
During the Seoul visit, Murali toured Hyundai’s advanced smart campus in Chungju City, including the towering 250 metre Hyundai Asan Test Tower, home to elevators capable of reaching speeds of up to 21 m/s. That tech showcase highlights Hyundai’s innovation leadership in vertical transport.
Scope of the Partnership
Under the agreement, Al Futtaim Contracting will be the exclusive dealer across Saudi Arabia for a wide range of vertical transportation solutions. These include machine room-less elevators, escalators, moving walks, high-speed and ultra-high-speed elevators, covering all of Hyundai’s VT, vertical transportation offerings.
Statements from Both Sides
In a brief statement included in the company’s announcement, Murali described the partnership as a milestone for the Kingdom’s changing urban skyline and highlighted Al Futtaim Contracting’s intent to deliver top-tier efficiency, safety, and design. Meanwhile, Yum Kyu Sang welcomed the collaboration, pointing to Hyundai’s innovation pedigree combined with Al Futtaim’s regional expertise as a solid foundation for the deal.
Responsibilities Outlined
An external outlet covering the development called it “an exclusive deal” and noted that Al Futtaim will be responsible for supplying, installing, and maintaining Hyundai’s products across the country.
The agreement is clear in its intent. It establishes Al Futtaim Contracting as the sole distributor of Hyundai Elevator in Saudi Arabia, providing an exclusive channel for all supply and service operations. The signing, which took place in Seoul on September 9, 2025, officially sealed the partnership at Hyundai Elevator’s headquarters, reflecting the significance both parties placed on this collaboration.
The leadership roles were also central to the deal. On behalf of Al Futtaim Contracting, Managing Director Murali S represented the company, while Hyundai Elevator was represented by its Head of Global Sales, Yum Kyu Sang. Their presence underscored the importance of this agreement, which binds two companies with strong reputations in their respective markets.
The scope of the partnership stretches across Hyundai’s complete product line. Al Futtaim will manage the delivery, installation, and maintenance of machine room-less elevators, escalators, moving walks, and high-speed as well as ultra-high-speed elevators. By taking on this responsibility, the company becomes the single authority for Hyundai’s vertical transport solutions in the Kingdom, ensuring consistency in both technology and service.
What makes this partnership significant is the technology that Hyundai brings to the table. The company’s test tower and smart campus in Chung Ju stand as examples of its advancement in elevator systems, including high-speed models reaching over 20 m/s. Combining this level of engineering with Al Futtaim’s established presence in Saudi Arabia makes the partnership a notable development in the region’s construction and infrastructure market.
