Multi Business inks contract to renovate SFD's main building

Multi Business says the contract with SFD will deliver gains at more than 10% of its 2024 revenue

Multi Business Group Co. signed today, Aug. 28, a contract with the Saudi Fund for Development (SFD) for a project to renovate parts of the latter’s headquarters, at a value exceeding 10% of the Saudi-listed company's 2024 revenues.
 
Under the 11-month contract, Multi Business will take part in the revamping of the fund's main building, including architectural, fit-out, electrical and mechanical engineering works, as per a Tadawul disclosure.
 
 
The contract, which involved no related parties, is expected to imply a positive impact on the company’s financial results for H2 2025 and H1 2026, it added.
 
In April, Multi Business announced the award of a project with SFD to renovate parts of the fund's main building, according to Argaam's data.
 
The company's revenues amounted to SAR 135.05 million in 2024, of which 10% is equivalent to about SAR 13.5 million.

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