Raya Al-Tajdeed wins SAR 100m Riyadh school contract

Raya Al-Tajdeed Contracting Company, a 35%-owned affiliate of Saudi Arabian Refineries Company (SARCO), has won a construction and finishing contract worth 100 million SAR for new school projects in the capital, Riyadh. The award was disclosed through listed-company announcements to the Saudi stock exchange.

Under the agreement, Raya Al-Tajdeed will carry out building works and interior finishes for the prime school projects of a multinational education company operating in Riyadh. The contract runs for 24 months from signing, and its revenues are expected to begin reflecting in SARCO's financial results in the fourth quarter of 2026.

Only the aggregate contract value of 100 million SAR and the two-year term have been disclosed. No individual school names, districts, or per-school prices have been made public, and there are no published breakdowns for unit pricing or per-student costs.

The deal follows a corporate change earlier this year: in May 2026, a transaction transferring a 35% stake in Raya Al-Tajdeed was completed, with a deal value of roughly 4.9 to 5 million SAR. SARCO now holds that 35% ownership in the contractor. The May stake acquisition and this contract award represent the most recent disclosed developments related to the company.

Why it matters

For families in Riyadh, the contract signals continued investment in new school facilities across the capital, reflecting steady demand for education infrastructure. As a commercial construction agreement reported as a material event for a listed company, it also offers residents and investors visibility into private-sector activity in the education sector without disclosing sensitive project-level details.

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