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Company News, Business

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Alhokair Group wins $202m contract

The contract has been awarded for catering services in a NEOM residential complex.
By TRENDS Desk AFP
January 22, 2024 3:55 pm
  • The contract was awarded a project by Alpha Facilities Contracting Co., an affiliate of Al Fanar Group, to provide catering services at a residential complex in NEOM.
  • It is expected that the financial impact of this partnership will begin as of Q1 2024, which will contribute to strengthening the group’s business.

Riyadh, Saudi Arabia — Abdulmohsen Alhokair Group for Tourism and Development was awarded a project by Alpha Facilities Contracting Co., an affiliate of Al Fanar Group, to provide catering services at a residential complex in NEOM.

The estimated value of the contract is SAR 760 million ($202 million) and it was awarded on Dec. 17, 2023, the group said in a statement to Tadawul.

It is expected that the financial impact of this partnership will begin as of Q1 2024, which will contribute to strengthening the group’s business and diversifying its sources of income within the goals of its strategic plans, the statement said.

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