Jarir Marketing signs SAR 0.5 mln contract with Rubeen Al Arabia

Jarir Marketing Co. has signed a SAR 0.5 million contract with Rubeen Al Arabia Co., to provide management, operation, and maintenance services for the Rubeen Plaza commercial complex, it said in a bourse statement on Tuesday.

Rubeen Al Arabia Co. is 50% owned by Jarir Marketing, and the term of the contract is for one year.

Read: Jarir Marketing opens new showroom in Riyadh

The statement further noted that the financial impact of the deal will be reflected on the company’s Q4 2019 results.

The company confirmed that the contract was made within the context of normal business and did not include any preferential benefits.

It also added that the contract will be ratified during the next general assembly meeting.

Last month, as Argaam reported, Jarir Marketing Company’s board of directors recommended a cash dividend of 25% of the capital (equivalent to SAR 2.5 per share) for the third quarter of FY2019.