AI Summary
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.
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Details of contracts and transactions: |
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Related Party |
Value of Transactions in 2024 (SAR mln) |
Contract |
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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. |
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Lynx Contracting Co. |
1,767.26 |
Contracts for the construction and development of the company’s shopping centers in various cities across the Kingdom |
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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 |
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Tadaris Alnajd Security Co. |
55.43 |
Security service contracts for all the company’s shopping centers across various cities in the Kingdom |
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NESK Group of Trading Projects |
37.21 |
Lease contracts for rental spaces in multiple company-owned shopping centers across various cities in the Kingdom |
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Muvi Cinema Co.
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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 |
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Sala Entertainment Co.
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34.24 |
Lease contracts for rental spaces in multiple company-owned shopping centers across various cities in the Kingdom |
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Abdulmohsen Alhokair for Tourism & Development Group |
28.28 |
Lease contracts for rental spaces in multiple company-owned shopping centers |
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Food Gate Co.
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15.02 |
Lease contracts for rental spaces in multiple company-owned shopping centers |
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Majd Al Amal Co. Limited and its associates |
11.76 |
Lease contracts for rental spaces in multiple company-owned shopping centers |
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Innovative Union Co. Ltd |
14.12 |
Lease contracts for rental spaces in multiple company-owned shopping centers |
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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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