AREIC, represented by its subsidiary Sustainable Services Company, has signed a strategic partnership agreement with Baan Holding Group to provide catering and food services for the NEOM Village – Staff Camp. This partnership showcases the collaboration between a leading real estate developer renowned for creating unique, high-value destinations and a specialized service provider capable of operating large-scale projects with advanced operational requirements.
The agreement, valued at approximately SAR 436 million over a six-year term, establishes a sustainable operational foundation that ensures the highest quality of housing and food services for residents and staff at the camp.
Commenting on the signing, AREIC’s CEO stated: “This agreement marks a practical step in AREIC’s efforts to deliver integrated operational solutions that meet the aspirations of hospitality and institutional housing projects in Saudi Arabia. It also reflects AREIC’s approach to embedding the concept of the ‘integrated asset,’ which goes beyond physical infrastructure to include a full suite of complementary services that enhance asset value and elevate quality of life.”
Baan Holding brings extensive operational expertise and logistical capabilities in catering and food services, ensuring that the project is fully prepared for operations with precise performance indicators and strict compliance with sustainability and quality standards.
Founded in 1978, Baan Holding Group is one of the earliest investors in the hospitality and entertainment sectors in Saudi Arabia and the Arab world. The group continues to expand its investments across multiple industries, with a strong focus on catering and food services while maintaining its commitment to quality and sustainability.
AREIC, established in 2006, was founded with a bold vision to redefine real estate development in Saudi Arabia by blending heritage with innovation. The company goes beyond developing projects to create unique destinations and sustainable communities that inspire, enrich lives, and leave a legacy for generations to come.
