Riyadh - Knowledge Economic City and ASTRA Construction Company penned a SAR 32.48 million agreement for the execution of structural and embedded mechanical, electrical, and plumbing (MEP) works for the buildings of the Riyadh Schools Complex.

The contractor’s dues will be paid in installments based on monthly progress statements reflecting the work executed under the contract, according to a bourse filing. 

Meanwhile, the financial impact of the seven-month deal, represented by cash outflows, will be distributed over the contract duration.

The project will be implemented in accordance with the specifications agreed upon and approved between the two parties as well as the regulation of the competent authorities.

In the first nine months (9M) of 2025, the Saudi listed firm recorded 43.91% year-on-year (YoY) lower net losses at SAR 26.70 million, compared to SAR 47.62 million.

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