Al Kathiri Holding Secures SAR 82.7 Million Contract for Electromechanical Works at Jeddah’s Melaa Project

Al Kathiri Holding (SASE:3008) has announced that its subsidiary, Msandh Alemdad, has been awarded an SAR 82.7 million contract by National Housing Co. (NHC) for electromechanical works at the Melaa project in Jeddah, Saudi Arabia.

Major Residential Development Contract

Under this six-month agreement, Msandh Alemdad will oversee the finishing of 295 residential units, marking a significant step in the expansion of Saudi Arabia’s housing sector. The contract highlights Al Kathiri Holding’s growing role in providing high-quality construction materials and services for large-scale developments.

Financial Impact Expected in Q3 2025

According to Al Kathiri Holding’s official statement on Sunday, the financial impact of this contract will be reflected from the third quarter of 2025. This aligns with Saudi Arabia’s Vision 2030 initiative, which aims to boost infrastructure and real estate development across the kingdom.

This latest win further strengthens Al Kathiri Holding’s position in the construction industry, as the company continues to expand its footprint in Saudi Arabia’s rapidly growing real estate sector.