Riyadh – Mubasher: Emaar The Economic City penned a contract with Lucid Limited Liability Company for an asset in the Industrial Valley of King Abdullah Economic City (KAEC) at a total value of SAR 113.5 million.
The contract has a 25-years duration starting from the signing date on 27 February, according to a recent bourse filing.
Lucid Company will lease a land plot in KAEC Industrial Valley to establish and operate a car manufacturing and assembly plant.
The financial impact of the contract will commence this year and ends in 2047.
