Shalfa awarded SAR 36m project contract by ZATCA

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Riyadh – Mubasher: Shalfa Facilities Management Company has announced the awarding of a comprehensive security services project by the Zakat, Tax and Customs Authority (ZATCA).

The project, which is valued at approximately SAR 35.99 million, will be executed in a joint solidarity agreement with the Shalfa International Security Guard Establishment.

This contract represents a significant expansion of the company’s operational footprint across the Kingdom of Saudi Arabia, covering a diverse range of administrative and residential assets.

According to a regulatory filing on the Saudi Exchange, Shalfa Facilities Management Co. (9613) has entered into a strategic project award with the Zakat, Tax and Customs Authority.

The scope of the contract involves the provision of professional security guard services for several high-priority locations under the jurisdiction of the authority.

These locations include the authority’s primary headquarters, various residential cities, and administrative offices. Furthermore, the security services will extend to various ports and regional branches situated throughout the Kingdom, highlighting the nationwide scale of the mandate.

Under the terms of the solidarity agreement the listed company, Shalfa Facilities Management, will retain a 50% share of the total project value. The official award date for the contract is cited as 2 July 2026.

Both the Chairman of the Board of Directors, Abdullah Mohammed Al Brahim, and the Vice Chairman, Fahd Mohammed Al Brahim, have been identified as having an indirect interest in the project.

This interest arises from a kinship relationship with the owner of the Shalfa International Security Guard Establishment, the partner entity in this project award.

Shalfa has clarified that the contract was secured within the context of its ordinary business operations.

The company further emphasized that the agreement was reached through standard commercial channels and that no preferential advantages or special terms were granted to the related parties involved.

This disclosure ensures that the transaction aligns with the regulatory requirements for listed companies regarding related-party dealings and competitive bidding processes.

The project underscores the ongoing demand for integrated facilities management and specialized security services within Saudi Arabia’s public sector.

By securing this contract with ZATCA, Shalfa continues to solidify its role as a service provider for critical government infrastructure and administrative hubs.

The logistical complexity of securing ports and residential cities across multiple regions indicates a robust operational capacity and a commitment to maintaining the security standards required by the Zakat, Tax and Customs Authority.

The company expects this project to contribute to its operational portfolio, reflecting its capability to manage large-scale service contracts in partnership with specialized security entities.

As the project progresses toward the implementation phase, the financial impact is expected to be reflected in the company's future financial statements in accordance with the project's execution timeline and the 50% revenue share allocated to Shalfa.

Last June, Shalfa received a SAR 366.48 million contract award from Tatweer Buildings Company (TBC) to provide comprehensive facility management services for school buildings in the Qassim region.

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