New Headquarters Fit-out Contract
- Value
- 18,750,000Excluding VAT
- Term
- 1 year2027-01-01 – 2027-12-311448-07-23 – 1449-08-03 AH
- Owner
- Saad Al-MutairiReal Estate & Facilities Manager
- Signature & renewal
- Qualified digital signatureDoes not renew
- Draft2026-07-14
- Review2026-07-18
- Approval2026-07-17
- Signing
- Active
- Expiring
- Renew or end
Term starts in 79 days
Next step
Waiting for Khalid Al-Otaibi to approve
For 88 days. Escalates automatically to the delegate after 5 working days.
- Legal AffairsNoura Al-Qahtani
- FinanceKhalid Al-Otaibi
- Chief ExecutiveAbdulaziz Al-Rashed
1 open task
Waqqa AI assistant
Executive summary
Nesma & Partners will deliver the interior fit-out and finishing of the new 14,000 m² headquarters in Al-Malqa, Riyadh, over 12 months for SAR 18,750,000, paid in monthly progress claims with 10% retention. A 5% performance bank guarantee applies, with delay penalties of 0.1% a day capped at 10%. High risk: the variation-order clause allows the value to rise by up to 15% without prior approval.
Summarised from 8 pages — check the source before relying on it.
Automated suggestion — a human makes the final call
Key terms
Extracted by the AI from the text — each value linked to its clause
- CounterpartyNesma & Partners Contracting Company
- Total valueSAR 18,750,000 excl. VAT
- Term1 year: 1 January 2027 to 31 December 2027
- Payment terms10% advance, monthly progress claims by completion, 10% retention
- Liability capCapped at 100% of value; delay penalty 0.1%/day up to 10%
- Renewal & noticeDoes not renew — ends on its end date
- Governing law & disputesSaudi law — arbitration at the Saudi Center for Commercial Arbitration, Riyadh
Risks
Variation orders without a clear ceiling
Clause 5.4 lets the value rise by up to 15% without the owner’s prior approval.
CriticalPersonal data protection
The contract does not state where data is hosted — PDPL requires processing inside the Kingdom.
Low
Key dates
Draft created
2026-07-1429 Muharram 1448 AH92 days ago
- Next up
Effective date
2027-01-0123 Rajab 1448 AHin 79 days
Next payment — 10% advance
2027-01-157 Shaʻban 1448 AHin 93 days
End date
2027-12-313 Shaʻban 1449 AHin 443 days
Related
Visible to the owning department and Legal