Multi Business wins project with stc

Logo of Multi Business Group Co.

Multi Business Group Co. was awarded a purchase order by Saudi telecom giant stc for the fit-out works for the gym at the head office, alongside the restoration and enhancement of work environment and outlet agreement, at a value exceeding 5% of the former’s total revenues for 2025.

In a statement to Tadawul, Multi Business explained that the project entails construction, architectural & fit-out works, as well as electrical & mechanical engineering.

The extension of the agreement for the renovation and improvement of the work environment and outlets was previously disclosed on June 17, 2025, it added.

According to the company, the duration of the purchase order is three months. It is expected to have a positive financial impact on Mult Business’ financial results for H1 2026.

The purchase order is dated April 1, 2026, said the company, adding that a hard copy was received today, April 8.

According to data available with Argaam, Multi Business announced, in June 2025, extending a framework agreement with stc for the renovation and improvement of the latter’s business environments and sales outlets for three more years. It said there is no estimated value to the agreement as purchase orders will be issued based on project needs and available budget.

Its 2025 revenues amounted to about SAR 135.34 million.