Riyadh — Mubasher: Tam Development Company has received an amendment to the award letter for a project providing community participation and event management consultancy services for the Green Riyadh program.
The project was originally awarded by the Royal Commission for Riyadh City, as previously disclosed on 21 October 2025.
The amendment involves the cancellation of one operational item, which has resulted in the total contract value being revised to SAR 12.51 million, inclusive of value-added tax.
Tam Development clarified that this adjustment does not impact the overall profit margins of the project. The company confirmed that the remaining scope of work remains unchanged under the modified agreement.
The financial impact of this development will be reflected in the company's financial results based on the stages of implementation and the corresponding periods for revenue and cost recognition.
The final effect on net profit will depend on the costs associated with the excluded and remaining business activities.
Tam Development stated it will announce any further material developments as they occur.
