Emaar EC inks SAR 60 mln contract with SAFE

Logo of Emaar The Economic City (Emaar EC)

Emaar The Economic City (Emaar EC) signed on Jan. 17, a SAR 60 million contract with National Security Services Company (SAFE) to provide security services at King Abdullah Economic City (KAEC), according to a bourse filing.

The contract will extend for five years, as of the date of signing, and is expected to reflect positively on the company’s financial results for 2021 – 2026.

Chairman Assim AlSuhaibani and board member, Majed Alsorour, have an indirect interest in this contract.

Emaar EC confirms that the contract is in the ordinary course of business and was not given any preferential privileges.