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. The company confirms that the contract was made within the context of normal business and did not include any preferential benefits. | ||||||
| Additional Information | And that this contract will be ratified during the next General Assembly meeting. | ||||||