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Multi Business Group Co. has signed a SAR 40.6 million contract with the Endowment of the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz for his parents to rehabilitate 29 mosques across Saudi Arabia. The 12-month project, valued at over 30% of the company’s 2025 revenue (SAR 135.34 million), includes construction, architectural finishing, and electrical/mechanical engineering work. The contract, signed on April 6 with no related-party involvement, is expected to boost the company’s financial performance through mid-2027, with results likely reflected in 2026 and H1 2027 earnings reports.
This contract represents a significant revenue driver for Multi Business, enhancing its visibility in the Saudi infrastructure and religious sectors. Investors may view this as a positive sign of government spending continuity and the company’s ability to secure large-scale projects. The deal also aligns with Saudi Arabia’s broader Vision 2030 initiatives, which prioritize infrastructure development and religious site maintenance.
For Saudi equity markets, this news could bolster investor confidence in Multi Business’s growth trajectory. Traders should monitor the company’s quarterly reports for 2026 and early 2027 to assess the contract’s financial impact. Additionally, the deal may signal increased government contracts in the construction sector, potentially benefiting other firms in the industry.
