CATRION Signs SAR 75.72M Lease at Dammam Airport

CATRION Catering Holding Co. signed a lease agreement with Dammam Airport Co. (DACO) to lease a site at King Fahd International Airport (KFIA) in Dammam, the company said in a statement. The lease is valued at SAR 75.72 million and includes a revenue-sharing component, meaning CATRION will pay a percentage of sales from the site to the airport operator.

The site will be used for catering operations, expanding CATRION's presence at one of Saudi Arabia's busiest airports. KFIA serves the Eastern Province and is a hub for both domestic and international flights. The lease adds to the company's portfolio of airport contracts, which already include facilities in Riyadh and Jeddah.

CATRION did not disclose the lease term or the specific revenue-sharing percentage. The agreement is part of the company's broader strategy to grow its airport-based catering business, which benefits from rising passenger traffic in the kingdom. Saudi Arabia's aviation sector has been expanding rapidly as the government invests in tourism and infrastructure under Vision 2030.

The company's shares closed at SAR 85.20 on the Saudi Exchange on Sunday, little changed following the announcement. CATRION has a market capitalization of about SAR 2.5 billion.