DRC signs framework agreement with Tourism Authority

08:57 AM (Mecca time) Argaam- Nomu
Logo ofDigital Research Co. (DRC)

Logo of Digital Research Co. (DRC)

Digital Research Co. (DRC) signed a framework agreement with the Saudi Tourism Authority (STA) to provide research and consulting services.

 

In a statement to Tadawul, the company said the total value of the framework agreement exceeds 12% of its total revenues, according to the audited financial statements for 2024, including value-added tax (VAT).

 

The company noted that the award was granted on Aug. 31, and the agreement was signed on Oct. 2, with a term of 36 months starting from Sept. 25.

 

DRC expects the agreement to positively impact its financial results starting from Q4 2025 and beyond.

 

There are no related parties to the deal, the statement added.

 

According to data available with Argaam, DRC received on Aug. 28 a letter of award for a framework agreement from the STA to provide research and consulting services.

 

The company’s revenues totaled SAR 63.05 million in 2024, with 12% equivalent to about SAR 7.57 million.

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