Cenomi Centers shareholders OK SAR 2.23B related-party deals

Cenomi Centers shareholders approve contracts and transactions with related parties totaling approximately SAR 2.23 billion for 2024

Arabian Centres Co.’s (Cenomi Centers) shareholders approved contracts and transactions with related parties totaling approximately SAR 2.23 billion for the fiscal year ended Dec. 31, 2024.

 

Details of contracts and transactions:

 

Related Party

Value of Transactions in 2024

(SAR mln)

Contract

Arabian Cooling Co. - a consortium consisting of FAS Energy and Sojitz 

--

Contracts for the execution of cooling and air-conditioning works for the Jawharat Riyadh project – no transactions were recorded in 2024.

Lynx Contracting Co.

1,767.26

Contracts for the construction and development of the company’s shopping centers in various cities across the Kingdom

Fawaz Abdulaziz Alhokair Co. and its subsidiaries

204.24

Lease contracts for rental spaces in several of the company’s shopping centers across various cities in the Kingdom, along with capital expenditures incurred and charged to the related party totaling SAR 5.1 million

Tadaris Alnajd Security Co.

55.43

Security service contracts for all the company’s shopping centers across various cities in the Kingdom

NESK Group of Trading Projects

37.21

Lease contracts for rental spaces in multiple company-owned shopping centers across various cities in the Kingdom

Muvi Cinema Co.

 

47.22

Lease contracts for rental spaces in multiple company-owned shopping centers across various cities in the Kingdom, along with capital expenditures incurred and charged to the related party totaling SAR 22.8 million

Sala Entertainment Co.

 

34.24

Lease contracts for rental spaces in multiple company-owned shopping centers across various cities in the Kingdom

Abdulmohsen Alhokair for Tourism & Development Group

28.28

Lease contracts for rental spaces in multiple company-owned shopping centers

Food Gate Co.

 

15.02

Lease contracts for rental spaces in multiple company-owned shopping centers

Majd Al Amal Co. Limited and its associates

11.76

Lease contracts for rental spaces in multiple company-owned shopping centers

Innovative Union Co. Ltd

14.12

Lease contracts for rental spaces in multiple company-owned shopping centers

Daam Support Maintenance & Cleaning

12.26

A maintenance and cleaning contract for the company's shopping centers
 

In a filing to Tadawul, the company said shareholders approved amendments to the remuneration policy for the board of directors, its committees, and executive management, as well as amendments to the governance manual and policy.

 

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