Theeb Rent a Car pens SAR 107m contract addendum with HungerStation

THEEB
4261 -0.39% 22.86 -0.09

Riyadh – Mubasher: Theeb Rent a Car Company has signed a contract addendum with HungerStation to expand their existing cooperation, according to a bourse disclosure.

The new agreement is valued at SAR 106.75 million, excluding value-added tax, and is designed to support the company’s strategic growth and operational expansion plans.

This development follows the original contract signed between the two parties on 21 December 2025.

Under the terms of the addendum, vehicles will be delivered in batches starting within the first six months from the commencement of the agreement.

The company noted that delivery schedules remain subject to global logistical conditions and procedures beyond the control of local agents or the firm.

Theeb Rent a Car expects the financial impact of this expansion to begin appearing in its financial results during the first half (H1) of 2027.

Revenue from the contract will be recognized gradually as the vehicles are delivered and the implementation of the addendum proceeds.

Source: Mubasher Source: {{details.article.source}}