ALEC’s $381 million IPO on the Dubai Financial Market in October 2025 was oversubscribed more than 21 times, generating demand of around $8.1 billion. The listing marked the UAE’s largest construction IPO by valuation and size. As of April 16, 2026, the company’s market capitalisation stood at $1.9 billion. Established in 1999, ALEC has been a subsidiary of the Investment Corporation of Dubai (ICD) since 2017 and operates across the UAE and Saudi Arabia. The company is synonymous with delivering complex, large-scale turnkey projects across sectors including airports, energy services, retail, hospitality, and data centers. As of 2025, ALEC reported a project backlog of $8.2 billion and revenues of $3.4 billion.