| Introduction | Red Sea International Company announces that its subsidiary, Fundamental Installation for Electric Work Co. has signed a contract with Al Arab Hospital Company Ltd. for the execution of Mechanical, Electrical, and Plumbing (MEP) works, screed works, internal partitions, and certain civil works for a hospital construction project located on Corniche Road, South Obhur District, Jeddah |
| Date of Announcement of the Award | 2026-01-05 Corresponding to 1447-07-16 |
| Contract Subject Matter | Supply, installation, testing, and commissioning of mechanical, electrical, & plumbing (MEP), screed, internal partitioning, and some other civil works for a hospital construction project on Corniche Road in south Obhur in Jeddah |
| The Entity with Which the Contract was Signed | Al Arab Hospital Company Ltd. |
| Date of Signing the Contract | 2026-01-05 Corresponding to 1447-07-16 |
| Contract Value | (SAR 220,002,237) Two Hundred Twenty Million Two Thousand Two Hundred Thirty-Seven Saudi Arabian Riyals (excluding VAT) |
| Contract Details | The scope of works includes supply, installation, testing, commissioning, and handing-over of mechanical, electrical, & plumbing (MEP), screed, internal partitioning, and some other civil works for a hospital construction project on Corniche Road in south Obhur in Jeddah. The asset comprises nineteen (19) levels in addition to two (2) basements. |
| Contract Duration | Four Hundred Twenty (420) calendar days |
| Financial Impact and the Relevant Period | Revenues and profits will be realized starting from Q1 2026 |
| Related Parties | Red Sea International Company & MSB Holding Company |
| Additional Information | The Fundamental Installation for Electric Work Co. is a local market leader and one of the top standalone MEP contractors delivering world class projects via end to end solutions that provide integrated design, engineering and construction services in the field of mechanical, electrical, and plumbing (MEP) works. |
