Emaar, the Economic City Signs SAR 547 Million Infrastructure Contract

06/07/2026 14:28 AST

Emaar, the Economic City announced the signing of a construction works contract with Nesma & Partners Contracting Company UJSC to develop infrastructure networks within the Special Economic Zone in the Industrial Valley.

The project encompasses the infrastructure development of Phase 1 of the King Salman Automotive Cluster, along with other strategic projects in the Industrial Valley. It also includes essential infrastructure upgrades to support existing tenants and fulfill contractual obligations.

Following a comprehensive evaluation and feasibility study, the contract was awarded to Nesma & Partners for a total value of SAR 547,381,407 (excluding VAT). The agreement was signed on July 5, 2026 (1448-01-20), with a project duration of 18 months.

The financial impact of the project is expected to be reflected in Emaar EC's results starting from the third quarter of 2026.

This transaction is classified as a related party deal, as the Public Investment Fund (PIF) - a major shareholder in Emaar EC - owns 30.1% of Nesma & Partners Contracting Company UJSC.

The contract highlights Emaar EC's ongoing role in advancing Saudi Arabia's industrial and economic infrastructure, particularly within King Abdullah Economic City's strategic development zones.


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