Banan subsidiary renews SAR 1M contract with Al Arabia for HVAC

22/01/2025 Argaam

Banan subsidiary renews SAR 1M contract with Al Arabia for HVAC

Logo of Banan Real Estate Co. 

Banan Real Estate Co. announced that its subsidiary, Al-Azizah Real Estate Investment and Development Co., renewed its contract with Al Arabia for HVAC for a value of SAR 1.03 million.

 

In a statement to Tadawul, the company pointed out that the contract involves the lease of workshops in the Badr district of Riyadh for one year, from Jan. 1 to Dec. 31, 2025.

 

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The company expects the contract to have a positive impact on its financials as of Q1 2025.

 

The statement highlighted that Chairman Abdulmohsen Alhakbani, Vice Chairman Ahmad Alhakbani, and board member Faisal Alhakbani are related parties to the deal.

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