SENAAT said the contract is expected to have a positive impact on its financials in Q4 2026
Advanced Building Industries Co.’s (SENAAT) subsidiary, Advanced Construction Solutions Co. for Projects (ZODCON), signed a contract with TKE ALAT Manufacturing, a joint venture of TK Elevator and Alat, for a total value of SAR 252 million excluding VAT. 
In a statement to Tadawul, the company said the contract, which was signed on May 12, is intended to establish a multi-purpose facility, including manufacturing, innovation hub, featuring a product-development center and training facility in Dammam’s Third Industrial City.
The project will be executed on a Design Build basis, including civil works, structural steel works, and mechanical, electrical, and plumbing works for a fully integrated manufacturing facility.
The contractual term is 20 months, with the financial impact expected to appear in the company’s financial statements during Q4 2026 and is expected to have a positive impact on the company’s financial results, the statement added.
TKE Alat is a joint venture established by TKE, a global leader in vertical urban mobility and Alat, a Public Investment Fund (PIF) company building industrial capabilities in priority sectors. The company was formed in August 2025 to address the growing vertical urban mobility needs of Saudi Arabia and the wider Middle East and North Africa (MENA) region.
No related parties are included in the deal.
SENAAT said the contract is expected to have a positive impact on its financials in Q4 2026
Advanced Building Industries Co.’s (SENAAT) subsidiary, Advanced Construction Solutions Co. for Projects (ZODCON), signed a contract with TKE ALAT Manufacturing, a joint venture of TK Elevator and Alat, for a total value of SAR 252 million excluding VAT.
In a statement to Tadawul, the company said the contract, which was signed on May 12, is intended to establish a multi-purpose facility, including manufacturing, innovation hub, featuring a product-development center and training facility in Dammam’s Third Industrial City.
The project will be executed on a Design Build basis, including civil works, structural steel works, and mechanical, electrical, and plumbing works for a fully integrated manufacturing facility.
The contractual term is 20 months, with the financial impact expected to appear in the company’s financial statements during Q4 2026 and is expected to have a positive impact on the company’s financial results, the statement added.
TKE Alat is a joint venture established by TKE, a global leader in vertical urban mobility and Alat, a Public Investment Fund (PIF) company building industrial capabilities in priority sectors. The company was formed in August 2025 to address the growing vertical urban mobility needs of Saudi Arabia and the wider Middle East and North Africa (MENA) region.
No related parties are included in the deal.
