Riyadh – Mubasher: Arabian Contracting Services Company (Al Arabia) unveiled that the due diligence process as well as the study aspects of cooperation between the involved parties for its project in Egypt are at the final stages to reach an agreement on terms of the contract.
Al Arabia will disclose any further developments regarding this contract in due course, according to a bourse filing.
Arabiya United for Advertising Service, an associate firm of the listed company, earlier announced plans to rent sites to install billboards to cover 89% of a bridge’s sites in Alamein City on the North Coast of Egypt.
In September 2022, the Saudi company announced the award of the contract through its arm Arabiya United for Advertising Service.
During the first nine months (9M) of 2022, Al Arabia recorded net profits after Zakat and tax worth SAR 193.57 million.
