TAM inks project contract with Pilgrim Experience Program

06/01/2025 Argaam
Logo ofTam Development Co. (TAM)

Logo of Tam Development Co. (TAM)

Tam Development Co. (TAM) signed, on Jan. 5, a contract with Pilgrim Experience Program (PEP) for providing advisory services and supporting the implementation of PEP projects.

 

In a statement to Tadawul, the company said that the contract value exceeds 5% of the company’s total annual revenues as per the audited financial statements for 2023.

 

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The 10-month contract’s financial impact will be reflected in Q1 2025, the company said, indicating that no related parties to the deal.

 

According to data available on Argaam, the company was awarded, on Nov. 11, 2024, a project contract for the PEP.

 

TAM's annual revenue for 2023 amounted to SAR 188.4 million. As a result, a 5% revenue share from the deal is estimated to equal SAR 9.42 million.

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