15 hours ago
Multi Business inks fire network implementation contract with Riyadh Holding
Multi Business Group Co. signed a fire network implementation project contract for the general site of the Scrap Metal City with Riyadh Holding Co., at a value exceeding 5% of the company's total revenues for 2024.
In a statement to Tadawul, the company said that the contract includes construction, architectural and fit-out work, as well as electrical and mechanical engineering work.
The contract was signed on July 14 and will be valid for 10 months; however, the contract's date is June 24, and the necessary signatures were completed, and a copy of the contract was received at the end of the working day on Sunday July 13, the statement added.
This deal is expected to have a positive financial impact on the company's financial results for H2 2025 and H1 2026.
According to data available on Argaam, Multi Business announced in June the award of a project with Riyadh Holding for fire protection works in Scrap Metal City.
The company's 2024 revenue reached about SAR 135.05 million, with 5% equating to approximately SAR 6.75 million.
