SMASCO launches new domestic service platform in Saudi Arabia

13/10/2024 Argaam
Logo ofSaudi Manpower Solutions Co. (SMASCO)

Logo of Saudi Manpower Solutions Co. (SMASCO)

Saudi Manpower Solutions Co. (SMASCO) and Urban Co. established a joint venture (JV)to launch a new cutting-edge domestic service platform in Saudi Arabia, with a capital of SAR 1 million.

 

In a statement to Tadawul, SMASCO said that the commercial register for the new entity, named Waed Khadmat Al-Munzal for Marketing Co., is complete as a limited liability company. The JV is 50% owned by Saneem Investment Co. (a sole proprietorship fully owned by SMASCO). Urban Home Experts Pte Ltd. owns the remaining 50%.

 

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This collaboration marks a significant milestone, as it brings together two market leaders to enhance the domestic service landscape in the Kingdom, the statement added.

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