Agreement worth SAR 436 million signed for provision of catering services in NEOM
BAAN Holding Group Company has signed a SAR 436 million agreement with Sustainable Services Company, a subsidiary of Al Mutlaq Real Estate Investment Company (AREIC), to provide catering and nutrition services for the Modern Village Complex in NEOM.
The contract, finalized on June 17,
2025, will run through December 31, 2030, and is part of BAAN’s broader
strategy to expand into the food services sector while diversifying its
investment portfolio.
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Group commences catering contract in Neom
According to a disclosure on the
Saudi stock exchange, the agreement is expected to contribute to BAAN’s
financial performance starting in the second quarter of 2025.
The initiative aligns with BAAN’s
growth objectives and follows two real estate-focused deals the company secured
in December 2024, reinforcing its ongoing efforts to broaden its operational
footprint across multiple sectors.
Source: Zawya
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