Emaar EC signs SAR 152M infrastructure deal with MASARAT

Emaar EC expects contract’s financial impact to reflect starting from Q3 2026

Emaar The Economic City (Emaar EC) signed, on Sept. 13, an infrastructure development contract with MASARAT Mobility Park Co. for a contractual value of SAR 152 million, excluding VAT.

In a statement to Tadawul, the company said it will design, construct and deliver the additional infrastructure works required to provide utilities for MASARAT’s project within King Salman Automotive Cluster in the Special Economic Zone (SEZ) at King Abdullah Economic City (KAEC).

This follows a request by MASARAT to provide additional utility capacity beyond what had been contemplated when the land sale agreements were signed.

Emaar EC previously announced signing an industrial land sale agreement with Dar Al Himmah Projects Co. Ltd., PIF-subsidiary TASARU Mobility Investments, Zamil Real Estate Co., and Abdullah Ibrahim Alkhorayef Sons Co.

It explained that the aforementioned parties subsequently established MASARAT to develop secondary infrastructure and establish an industrial logistics cluster in the SEZ.

The company expects the contract’s financial impact to reflect in its results starting from Q3 2026.

MASARAT is a joint venture comprising TASARU, which is wholly owned by PIF, a major shareholder in Emaar EC, the statement added.

According to data available on Argaam, Emaar EC announced in July 2023 that it had signed an agreement to sell undeveloped industrial land to Dar Al Himmah, TASARU, Zamil Real Estate, and Abdullah Ibrahim Alkhorayef Sons Co., for SAR 366.8 million.