Arabian Internet and Communications Services Company (solutions) announced on October 16, 2025, that it signed an addendum agreement with Remat Riyadh Development Company on October 15, 2025, extending their Revenue-Sharing Agreement by an additional 5 years. The original 10-year agreement, first announced on January 24, 2024, covers building, managing, operating, and maintaining smart public parking spaces in Riyadh City, and will now run for a total of 15 years. This extension aligns with solutions' strategy to provide integrated smart solutions and enable digital transformation in Saudi Arabia through public-private partnerships.

Original announcement:

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.