Arabian Centers Company (Cenomi Centers) Announces the Signing of a Design and Build Contract for the “Al Khobar Downtown Mall and Boulevard” Project with Lynx Contracting Company

Element List	Explanation
Introduction	Arabian Centers Company (“Cenomi Centers” or “the Company”) Signing of a Design and Build Contract for the “Al Khobar Downtown Mall and Boulevard” Project with Lynx Contracting Company.
Date of Announcement of the Award	2026-06-28 Corresponding to 1448-01-13
Contract Subject Matter	Signing of a Design and Build Contract for the “Al Khobar Downtown Mall and Boulevard” Project with Lynx Contracting Company
The Entity with Which the Contract was Signed	Lynx Contracting Company
Date of Signing the Contract	2026-06-28 Corresponding to 1448-01-13
Contract Value	SAR 1,331,236,400 (excluding Value Added Tax).
Contract Details	Arabian Centers Company (Cenomi Centers) has signed a Design and Build contract for the “Al Khobar Downtown Mall and Boulevard” project located in Al Khobar City. The scope of the contract includes design, engineering, construction, supply, installation, testing, commissioning, obtaining all required regulatory approvals, and all related works up to the final handover and full operation of the project. The project duration is thirty (36) months from the date of the commencement notice. The contract also includes provisions relating to performance guarantees, insurances, delay damages, and variation and claims management in accordance with the agreed contractual terms.
Contract Duration	(36) months
Financial Impact and the Relevant Period	The financial impact of the project is expected to be reflected in the Company’s results during the project execution period.
Related Parties	The contract constitutes a related party transaction, as the Chairman of the Board, Mr. Fawaz Alhokair, Eng. Salman bin Abdulaziz Alhokair (BoD Vice Chairman), and Eng. Kamel Alqalam (Managing Director, Executive), have a direct and indirect interest in Lynx Contracting Company. The contract was concluded within the ordinary course of business and on commercial terms prevailing in the market without any preferential benefits. The related Board members abstained from participating in voting on the relevant Board resolution. The contract will also be presented to the General Assembly for obtaining the required regulatory approvals.