Key Takeaways: Parsons has been awarded a three-year contract to provide program management, constru...


Key Takeaways:  Parsons has been awarded a three-year contract to provide program management, construction management, and construction supervision for the Lusail City Infrastructure Program in Qatar, one of the Middle East’s most significant master-planned developments.At 38 square kilometers, Lusail’s 19 districts position it as a key driver of investment, tourism, and sustainable growth in Qatar.The award extends Parsons’ nearly 20-year relationship with Qatari Diar, delivering complex urban development programs across the region.  CHANTILLY, Va., July  07, 2026  (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that it has been selected by Lusail Real Estate Development Company (LREDC), to provide program management, construction management, and construction supervision (PMCMCS) to support the delivery of the Lusail City Infrastructure Program, a master-planned development north of Doha. The three-year contract represents a continuation of Parsons’ ongoing engagement in Lusail under a new contractual arrangement.  Under the contract, Parsons will provide oversight of design and construction, interface management, project controls, quality assurance, and coordination with multiple stakeholders across the program to drive the successful delivery.  “Lusail is one of the most significant urban developments in the region, and we are proud to continue supporting its delivery,” said Ahmed El-Essnawi, Vice President – Qatar Country Manager at Parsons. “Since 2006, we have been working with LREDC to provide project management, construction management and site supervision for infrastructure, utilities, and landscape projects. This new program reflects our longstanding relationship in delivering complex, multi-stakeholder developments that support the Qatar National Vision 2030.”  Spanning 38 square kilometers, Lusail comprises 19 residential, mixed-use, commercial, entertainment, and waterfront districts, including four islands and growing hospitality, reinforcing its role as a catalyst for investment, tourism, and sustainable urban growth in Qatar. This award strengthens Parsons’ position as a trusted delivery partner for complex Middle East development programs, supporting public and private‑sector clients with integrated PMCMCS. In November 2026, Qatari Diar is celebrating its 20th anniversary, a true milestone reflecting two decades of improving the quality of life and its commitment to local communities, partnerships and sustainability.  This award builds on Parsons’ nearly 20 years of partnership with Qatari Diar on the Lusail City program, during which the company has supported the delivery of large scale infrastructure and landmark urban development programs including Lusail Marina District, The Seef Lusail Development, Lusail Plaza, the Lusail Commercial Boulevard, as well as the Qetaifan Islands earning multiple industry recognitions including MEED and Big Project Middle East Awards for Road Project of the Year and Residential/Urban Development Project of the Year, respectively.  Parsons has had a presence in the EMEA region for nearly 70 years, supporting clients across the full project lifecycle. From urban and destination development, transport infrastructure and smart mobility to industrial and commercial development, asset management, and defense and security, Parsons draws on its global expertise and local knowledge to deliver projects that are aligned with national strategic frameworks and priorities.  About ParsonsParsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and electronic warfare, space and missile defense, transportation, water and environment, urban development, and critical infrastructure protection. Please visit Parsons.com and follow us on LinkedIn to learn how we’re making an impact.  To join Parsons in creating the future of Europe and the Middle East, visit parsons.com/emea  Media ContactLara Masri+971 4 4029767Lara.Masri@parsons.com  Investor Relations Contact:Dave Spille+1 703.775.6191Dave.Spille@parsons.com  Forward-Looking Statements: This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends and factors that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results and events may vary materially from those indicated in the forward-looking statements, and you should not rely on the forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in the forward-looking statements, including, among others: any issue that compromises our relationships with the U.S. federal government or its agencies or other state, local or foreign governments or agencies; any issues that damage our professional reputation; changes in governmental priorities that shift expenditures away from agencies or programs that we support; our dependence on long-term government contracts, which are subject to the government’s budgetary approval process; the size of our addressable markets and the amount of government spending on private contractors; failure by us or our employees to obtain and maintain necessary security clearances or certifications; failure to comply with numerous laws and regulations; changes in government procurement, contract or other practices or the adoption by governments of new laws, rules, regulations and programs in a manner adverse to us; the termination or nonrenewal of our government contracts, particularly our contracts with the U.S. federal government; our ability to compete effectively in the competitive bidding process and delays, contract terminations or cancellations caused by competitors’ protests of major contract awards received by us; our ability to generate revenue under certain of our contracts; any inability to attract, train or retain employees with the requisite skills, experience and security clearances; the loss of members of senior management or failure to develop new leaders; misconduct or other improper activities from our employees or subcontractors; our ability to realize the full value of our backlog and the timing of our receipt of revenue under contracts included in backlog; changes in the mix of our contracts and our ability to accurately estimate or otherwise recover expenses, time and resources for our contracts; changes in estimates used in recognizing revenue; internal system or service failures and security breaches; and inherent uncertainties and potential adverse developments in legal proceedings, including litigation, audits, reviews and investigations, which may result in materially adverse judgments, settlements or other unfavorable outcomes. These factors are not exhaustive and additional factors could adversely affect our business and financial performance. For a discussion of additional factors that could materially adversely affect our business and financial performance, see the factors included under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on currently available information and speak only as of the date on which they are made. We assume no obligation to update any forward-looking statement made in this press release that becomes untrue because of subsequent events, new information or otherwise, except to the extent we are required to do so by law.   
            

Parsons Awarded Program and Construction Management Contract for Lusail Development in Qatar

Parsons wins 3-year Lusail City contract in Qatar expands MEA backlog

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>Key Takeaways: Parsons has been awarded a three-year contract to provide program management, constru...</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Parsons Corporation (NYSE: PSN) was selected by Lusail Real Estate Development Company (LREDC) to provide program management, construction management and construction supervision for the Lusail City Infrastructure Program in Qatar for three years. Lusail covers 38 square kilometers across 19 districts, a flagship development north of Doha and a cornerstone of Qatar’s growth. The award reinforces Parsons’ long-standing Lusail engagement and broadens its Middle East backlog and project visibility.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Parsons wins 3-year PMCMCS contract for Lusail City, Qatar.</li><li>Lusail spans 38 sq km with 19 districts; key growth catalyst.</li><li>Three-year award extends near 20-year relationship with Qatari Diar.</li><li>Contract strengthens Parsons&#039; role in complex Middle East developments.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Parsons Corporation (PSN)</strong>: Announcement confirms a three-year PMCMCS contract in Qatar; expands backlog and regional footprint.</li><li><strong>Lusail Real Estate Development Company (LREDC)</strong>: Client; long-standing relationship with Parsons; flagship Lusail City project.</li><li><strong>Qatari Diar (N/A)</strong>: Partner in Lusail project; 20th anniversary in Nov 2026; not publicly traded.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Industry News / Corporate Developments; reflects strategic expansion in the Middle East and reinforces Parsons’ role as PMCMCS for large, multi-stakeholder developments.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>New Lusail award expands PSN&#039;s Middle East backlog and revenue visibility.</li><li>Lusail City’s 38 sq km scale implies multi-year revenue recognition.</li><li>Qatari Diar relationship strengthens Parsons&#039; regional pipeline.</li><li>No disclosed revenue amount; focus remains on project backlog growth.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Parsons Corporation (NYSE: PSN) announced selection by Lusail Real Estate Development Company (LREDC) for PMCMCS.</li><li>Contract duration: three years.</li><li>Lusail City spans 38 square kilometers with 19 districts.</li><li>Project located north of Doha, Qatar.</li><li>Parsons has collaborated with LREDC since 2006; Qatari Diar to celebrate 20th anniversary in Nov 2026.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Bullish near-term: adds to PSN backlog and MEA visibility with milestones through 2029.</p>
  </section>
</section>


<article>
  <section id="overview">
    <h2>Overview</h2>
    <p>
      Parsons Corporation (NYSE: <strong>PSN</strong>) has been awarded a <strong>three-year</strong> contract to provide <strong>program management, construction management, and construction supervision</strong> (PMCMCS) for the Lusail City Infrastructure Program, a master-planned development north of Doha, Qatar. The deal strengthens Parsons’ <em>nearly 20-year</em> relationship with Lusail Real Estate Development Company (LREDC) and Qatari Diar. This announcement marks a continuation of Parsons’ involvement in the Lusail project under a new contractual arrangement.
    </p>
    <p>
      Under the contract, Parsons will provide oversight of design and construction, interface management, project controls, quality assurance, and coordination with multiple stakeholders across the program to drive the successful delivery.
    </p>
  </section>

  <section id="contract-details" aria-labelledby="contract-details-title">
    <h2 id="contract-details-title">Contract Scope and Key Responsibilities</h2>
    <p>
      Parsons will support the Lusail City Infrastructure Program with comprehensive PMCMCS services to ensure timely, high-quality delivery across the master-planned development. The program encompasses a broad set of urban and infrastructural elements designed to accelerate investment, tourism, and sustainable growth in Qatar.
    </p>
    <ul>
      <li><strong>Program and construction management</strong> across multiple districts</li>
      <li><strong>Construction supervision</strong> to monitor on-site execution</li>
      <li><strong>Interface management</strong> among diverse stakeholders</li>
      <li><strong>Project controls</strong>, scheduling, and cost management</li>
      <li><strong>Quality assurance</strong> and compliance with program standards</li>
    </ul>
  </section>

  <section id="about-lusail" aria-labelledby="about-lusail-title">
    <h2 id="about-lusail-title">Lusail City Infrastructure Program at a Glance</h2>
    <p>
      Spanning <strong>38 square kilometers</strong>, Lusail comprises <strong>19 residential, mixed-use, commercial, entertainment, and waterfront districts</strong>, including four islands and growing hospitality. The development reinforces its role as a catalyst for <em>investment, tourism, and sustainable urban growth</em> in Qatar.
    </p>
  </section>

  <section id="background" aria-labelledby="background-title">
    <h2 id="background-title">Background on Parsons’ Partnership</h2>
    <p>
      This award strengthens Parsons’ position as a trusted delivery partner for complex Middle East development programs, supporting public and private-sector clients with integrated PMCMCS. In November 2026, Qatari Diar is celebrating its <strong>20th anniversary</strong>, a milestone reflecting two decades of improving the quality of life and its commitment to local communities, partnerships and sustainability.
    </p>
    <p>
      This award builds on Parsons’ <em>nearly 20 years</em> of partnership with Qatari Diar on the Lusail City program, during which the company has supported the delivery of large-scale infrastructure and landmark urban development programs including Lusail Marina District, The Seef Lusail Development, Lusail Plaza, the Lusail Commercial Boulevard, as well as the Qetaifan Islands earning multiple industry recognitions including MEED and Big Project Middle East Awards for Road Project of the Year and Residential/Urban Development Project of the Year, respectively.
    </p>
  </section>

  <section id="parsons-about" aria-labelledby="parsons-about-title">
    <h2 id="parsons-about-title">About Parsons</h2>
    <p>
      Parsons <strong>(NYSE: PSN)</strong> is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and electronic warfare, space and missile defense, transportation, water and environment, urban development, and critical infrastructure protection.
    </p>
    <p>
      Please visit <a href="https://parsons.com">Parsons.com</a> and follow us on LinkedIn to learn how we’re making an impact. To join Parsons in creating the future of Europe and the Middle East, visit <em>parsons.com/emea</em>.
    </p>
  </section>

  <section id="contacts" aria-labelledby="contacts-title">
    <h2 id="contacts-title">Contacts</h2>
    <ul>
      <li><strong>Media Contact:</strong> Lara Masri, +971 4 4029767, <em>Lara.Masri@parsons.com</em></li>
      <li><strong>Investor Relations:</strong> Dave Spille, +1 703.775.6191, <em>Dave.Spille@parsons.com</em></li>
    </ul>
  </section>

  <section id="forward-looking" aria-labelledby="forward-looking-title">
    <h2 id="forward-looking-title">Forward-Looking Statements</h2>
    <p>
      This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends and factors that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results and events may vary materially from those indicated in the forward-looking statements, and you should not rely on the forward-looking statements as predictions of future performance, results or events.
    </p>
    <p>
      Numerous factors could cause actual future performance, results and events to differ materially from those indicated in the forward-looking statements, including, among others: any issue that compromises our relationships with the U.S. federal government or its agencies or other state, local or foreign governments or agencies; any issues that damage our professional reputation; changes in governmental priorities that shift expenditures away from agencies or programs that we support; our dependence on long-term government contracts, which are subject to the government’s budgetary approval process; the size of our addressable markets and the amount of government spending on private contractors; failure by us or our employees to obtain and maintain necessary security clearances or certifications; failure to comply with numerous laws and regulations; changes in government procurement, contract or other practices or the adoption by governments of new laws, rules, regulations and programs in a manner adverse to us; the termination or nonrenewal of our government contracts, particularly our contracts with the U.S. federal government; our ability to compete effectively in the competitive bidding process and delays, contract terminations or cancellations caused by competitors’ protests of major contract awards received by us; our ability to generate revenue under certain of our contracts; any inability to attract, train or retain employees with the requisite skills, experience and security clearances; the loss of members of senior management or failure to develop new leaders; misconduct or other improper activities from our employees or subcontractors; our ability to realize the full value of our backlog and the timing of our receipt of revenue under contracts included in backlog; changes in the mix of our contracts and our ability to accurately estimate or otherwise recover expenses, time and resources for our contracts; changes in estimates used in recognizing revenue; internal system or service failures and security breaches; and inherent uncertainties and potential adverse developments in legal proceedings, including litigation, audits, reviews and investigations, which may result in materially adverse judgments, settlements or other unfavorable outcomes. All forward-looking statements are based on currently available information and speak only as of the date on which they are made. We assume no obligation to update any forward-looking statement made in this press release that becomes untrue because of subsequent events, new information or ...
    </p>
  </section>
</article>

Parsons Corporation (NYSE: PSN) was selected by Lusail Real Estate Development Company (LREDC) to provide program management, construction management and construction supervision for the Lusail City Infrastructure Program in Qatar for three years. Lusail covers 38 square kilometers across 19 districts, a flagship development north of Doha and a cornerstone of Qatar’s growth. The award reinforces Parsons’ long-standing Lusail engagement and broadens its Middle East backlog and project visibility.

Parsons Awarded Program and Construction Management Contract for Lusail Development in Qatar

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

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