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Emaar, the Economic City Announces the Signing of a Construction Works Contract with Nesma & Partners Contracting Company UJSC
| Element List | Explanation |
|---|---|
| Introduction | Emaar, the Economic City announces the signing of a contract with Nesma & Partners Contracting Company UJSC for the construction of infrastructure networks within the Special Economic Zone located in the Industrial Valley in King Abdullah Economic City. The project includes the infrastructure development of Phase 1 of King Salman Automotive Cluster located within the Special Economic Zone in King Abdullah Economic City in addition to other strategic projects within the Industrial Valley in King Abdullah Economic City. The project also includes key infrastructure development to support existing tenants and meet contractual obligations. Following the completion of the evaluation and feasibility study, the contract was awarded to Nesma & Partners Contracting Company UJSC for a total value of SAR 547.4 million (excluding VAT). |
| Date of Announcement of the Award | 2026-05-05 Corresponding to 1447-11-18 |
| Contract Subject Matter | Construction of infrastructure networks |
| The Entity with Which the Contract was Signed | Nesma & Partners Contracting Company UJSC |
| Date of Signing the Contract | 2026-07-05 Corresponding to 1448-01-20 |
| Contract Value | SAR 547,381,407 (excluding VAT) |
| Contract Details | Construction of infrastructure networks under a contract value of SAR 547,381,407 (excluding VAT). |
| Contract Duration | 18 months |
| Financial Impact and the Relevant Period | The financial impact of the contract is expected to be reflected in the Company’s financial results starting from the third quarter of 2026. |
| Related Parties | The Public Investment Fund (one of the major shareholders of Emaar, the Economic City) owns 30.1% of Nesma & Partners Contracting Company UJSC. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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