Jarir Marketing Co. Announces Contract Sign Off with Rubeen Al Arabia Company
| Element List | Explanation |
|---|---|
| Introduction | Jarir Marketing Co. Announces Contract Sign Off with Rubeen Al Arabia Company(Related Party) |
| Date of Announcement of the Award | 2019-12-10 Corresponding to 1441-04-13 |
| Contract Subject Matter | A contract to provide management, operation and maintenance services (not including rental-related services) for the Rubeen Plaza commercial complex |
| Date of Signing the Contract | 2019-12-10 Corresponding to 1441-04-13 |
| Contract Value | 500,000 riyals annually in addition to the actual costs of the staff |
| Contract Details | Jarir Marketing Company has signed a contract to provide management, operation and maintenance services (not including rental-related services) for the Rubeen Plaza commercial complex owned by Rubeen Al Arabia Company, located on the Northern Ring Road between the Takhasusi exit and Prince Turki |
| Contract Duration | One calendar year, renewable |
| Financial Impact and the Relevant Period | The financial impact of the contract will appear during the fourth quarter of 2019 |
| Related Parties | Rubeen Al Arabia Company is owned (50%) by the Jarir Commercial Development Company, indirectly owned by some members of the board of directors of Jarir Marketing Company who are Mr. Muhammad bin Abdul Rahman Al-Agil, Engineer / Nasser bin Abdul Rahman Al-Agil, and Professor / Abdullah bin Abdul Rahman Al-Agil, and Professor / Abdul Karim bin Abdul Rahman Al-Agil. |
| Additional Information | The company confirms that the contract was made within the context of normal business and did not include any preferential benefits.
And that this contract will be ratified during the next General Assembly meeting. |
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