Element List	Explanation
Introduction	Advanced Building Industries Company "Senaat" is pleased to announces that its subsidiary, Advance Construction Solutions Company for Projects (ZODCON), has signed a contract with TKE ALAT Manufacturing, a joint venture of TK Elevator and Alat, to establish a multi-purpose facility, including manufacturing, innovation hub, featuring a product-development center and training facility in Dammam's Third Industrial City, Kingdom of Saudi Arabia.
Date of Announcement of the Award	2026-05-12 Corresponding to 1447-11-25
Contract Subject Matter	One of "Senaat" subsidiaries, Advanced Construction Solutions Company for Projects (ZODCON), has signed a contract with TKE ALAT Manufacturing Company., TKE Alat is a €160 million joint venture established by TKE, a global leader in vertical urban mobility and Alat, a Public Investment Fund (PIF) company building industrial capabilities in priority sectors. The company was formed in August 2025 to address the growing vertical urban mobility needs of Saudi Arabia and the wider Middle East and North Africa (MENA) region.
The Entity with Which the Contract was Signed	TKE ALAT Manufacturing Company
Date of Signing the Contract	2026-05-12 Corresponding to 1447-11-25
Contract Value	SAR 252,000,000 (excluding VAT).
Contract Details	The project will be executed on a Design & Build basis, including civil works, structural steel works, and mechanical, electrical, and plumbing works for a fully integrated manufacturing facility.
Contract Duration	20 months
Financial Impact and the Relevant Period	The financial impact of this contract is expected to appear in the company’s financial statements during the fourth quarter of 2026 and is expected to have a positive impact on the company’s financial results.
Related Parties	N/A