Riyadh - Mubasher: BAAN Holding Group Company has inked a SAR 436 million contract with Sustainable Services Company, a subsidiary of Al Mutlaq Real Estate Investment Company (AREIC).

The contract aims to provide catering, food, and nutrition services for the Modern Village Complex in NEOM, according to a bourse disclosure.

The agreement, signed on 17 June 2025, spans approximately six years and runs until 31 December 2030.

This initiative is part of BAAN’s strategy to expand into the catering sector and diversify its investment portfolio, boosting its business growth.

The financial impact of the contract is expected to reflect in the company’s financials starting from the second quarter (Q2) of 2025.

Last December, BAAN secured two strategic agreements to boost its real estate investments.