On August 19, 2026, Arabian Centers Co. (Cenomi Centers) announced the signing of a Development Services Agreement (DSA) with Saudi Downtown Company, a Public Investment Fund (PIF) entity within the Urban Development & Livability ecosystem, dated August 18, 2026. Under the agreement, Cenomi Centers will provide development management services — including planning, design management, consultant and contractor engagement, and construction supervision — for the retail and shopping mall components of the Al Madinah Downtown Project. The contract value exceeds 5% of the Company's annual revenue for fiscal year 2025, with an initial term of three years and an option to extend for an additional two years upon mutual agreement. The agreement is expected to positively impact Cenomi Centers' revenues and net profit during the project execution period, and aligns with the company's asset-light growth strategy.

Original announcement:

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Important Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.