Cenomi Centers shareholders OK SAR 2.23B related-party deals

Arabian Centres Co.’s (Cenomi Centers) shareholders approved contracts and transactions with related parties totaling approximately SAR 2.23 billion for the fiscal year ended Dec. 31, 2024.

Details of contracts and transactions:
Related Party	Value of Transactions in 2024 (SAR mln)	Contract
Arabian Cooling Co. - a consortium consisting of FAS Energy and Sojitz	--	Contracts for the execution of cooling and air-conditioning works for the Jawharat Riyadh project – no transactions were recorded in 2024.
Lynx Contracting Co.	1,767.26	Contracts for the construction and development of the company’s shopping centers in various cities across the Kingdom
Fawaz Abdulaziz Alhokair Co. and its subsidiaries	204.24	Lease contracts for rental spaces in several of the company’s shopping centers across various cities in the Kingdom, along with capital expenditures incurred and charged to the related party totaling SAR 5.1 million
Tadaris Alnajd Security Co.	55.43	Security service contracts for all the company’s shopping centers across various cities in the Kingdom
NESK Group of Trading Projects	37.21	Lease contracts for rental spaces in multiple company-owned shopping centers across various cities in the Kingdom
Muvi Cinema Co.	47.22	Lease contracts for rental spaces in multiple company-owned shopping centers across various cities in the Kingdom, along with capital expenditures incurred and charged to the related party totaling SAR 22.8 million
Sala Entertainment Co.	34.24	Lease contracts for rental spaces in multiple company-owned shopping centers across various cities in the Kingdom
Abdulmohsen Alhokair for Tourism & Development Group	28.28	Lease contracts for rental spaces in multiple company-owned shopping centers
Food Gate Co.	15.02	Lease contracts for rental spaces in multiple company-owned shopping centers
Majd Al Amal Co. Limited and its associates	11.76	Lease contracts for rental spaces in multiple company-owned shopping centers
Innovative Union Co. Ltd	14.12	Lease contracts for rental spaces in multiple company-owned shopping centers
Daam Support Maintenance & Cleaning	12.26	A maintenance and cleaning contract for the company's shopping centers

In a filing to Tadawul, the company said shareholders approved amendments to the remuneration policy for the board of directors, its committees, and executive management, as well as amendments to the governance manual and policy.

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