Atlas Elevators inks cooperation agreement with Smart Homes

Logo of Atlas Elevators General Trading and Contracting Co.

Atlas Elevators General Trading and Contracting Co. signed a cooperation agreement with Smart Homes Co., the company said in a statement to Tadawul.

The agreement aims to mutually benefit both parties with Smart Homes innovating and providing advanced smart devices, systems, and solutions to support Atlas Elevators' projects.

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The agreement marks a significant step toward establishing a smart elevator ecosystem with remote control capabilities via the Internet. This will open new opportunities and positively impact local and regional development in the elevator sector.

The value of the agreement cannot be determined at present, as it depends on the supply and demand for Smart Homes' products. The contract is set for a duration of 12 months.

Under the contract, both parties will collaborate to ensure mutual benefits by leveraging Smart Homes' expertise to provide innovative smart solutions for projects executed by Atlas Elevators.

Each party will be contractually responsible for its respective obligations toward project owners, including financial, administrative, and operational aspects, as well as material supply, workforce provision, and product warranties. The two companies are committed to maintaining the highest standards of integrity and responsibility.

The financial impact of this agreement will be disclosed in due course. No related parties are involved in the agreement, Atlas Elevators said.

Smart Homes specializes in integrating electrical systems in buildings with local networks, allowing users to control various home devices via mobile applications or wall-mounted screens that transform conventional homes into smart, modern, and sustainable living spaces.