Riyadh – Mubasher: Tam Development Company signed a framework agreement with the Saudi Council of Engineers for an estimated value of SAR 70 million.

The contract was finalized on 2 July 2026 and focuses on the provision of specialized services and operational support, according to a bourse filing.

Meanwhile, the agreement carries a duration of three years and requires Tam Development to deliver support based on the specific needs and detailed scope of work outlined by the Saudi Council of Engineers.

The company received the officially signed copy of the contract on 2 July 2026, although the document was dated 29 June 2026.

Tam Development stated that the financial impact of this agreement will be realized through purchase orders issued during the three years term.

The company confirmed that there are no related parties associated with this transaction.

It is worth noting that this framework agreement aligns with the council's requirements for specialized operational assistance over the contract period.

During the company’s extraordinary general meeting (EGM), Tam Development announced a cash dividend distribution for the 2025 and a strategic share buyback program.