Alhokair Group says NEOM catering contract lasts 7 years

Abdulmohsen Alhokair Group for Tourism and Development (Alhokair Group) said that the duration of the contract signed with Alpha Facilities Contracting Co. to provide catering services for a residential complex in NEOM extends for seven years.

The company said in a statement to Tadawul that the related financial impact will be reflected as of Q1 2024, strengthening the group's business and diversifying its sources of income within the targets of its strategic plan.

The statement pointed out that the contract, awarded on Jan. 22 and signed on Aug. 22, has no related parties.

According to data available on Argaam, Alhokair Group signed a contract with Alpha Facilities, 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.