Theeb inks SAR 61.7M vehicle leasing contract

Logo of Theeb Rent a Car Co.

Theeb Rent a Car Co. signed today, Dec. 22, a long-term vehicle leasing contract with First Line Logistics Co., at a total value of SAR 61.68 million.

In a statement to Tadawul, Theeb explained that the contract entails leasing 1,000 vehicles for a period of 4 years, starting from 2026. The vehicles will be delivered in batches within the first nine months from the contract starting date, taking into consideration the global logistical circumstances and procedures beyond the control of the agents and the company.

According to the company, this contract will have a positive impact on its financial statements during the contract period starting from Q1 2026, noting that there are no related parties involved in the deal.

Theeb also stated that the contract falls within its expansion plan, which is based on solid strategic plans and aims to stimulate operational growth in addition to providing high-quality services to commercial partners and government entities and companies.