Riyadh – Mubasher: Arabian Internet and Communications Services Company (solutions) has signed a contract valued at SAR 364 million with Center3 to establish, build, and equip the DDC307 data center in Dammam.
The agreement, signed on 3 August 2026, spans a duration of 18 months and covers mobilization, engineering, construction, mechanical, electrical, and plumbing (MEP) works, as well as final testing and commissioning.
The contract involves a related party transaction, as Saudi Telecom Company (stc) is the majority shareholder in both entities. It owns 79% of Solutions and 100% of Center3.
The construction phase will be executed across four integrated stages, including site preparation, foundation work, superstructure development, and final outfitting.
Solutions expects the financial impact of this project to begin appearing in its financial statements starting from the first quarter (Q1) of 2027.
The project aims to deliver a fully operational and secure facility in accordance with international technical standards.
In the first half (H1) of 2026, solutions logged net profits valued at SAR 824 million, up 2.11% from SAR 807 million in H1-25.
