Cherry Trading Co. Secures SAR 61.4M Vehicle-Leasing Contract with Riyadh Municipality

Cherry Trading Co. Wins Major Contract

Cherry Trading Co. has announced a significant achievement, securing a vehicle-leasing contract valued at SAR 61.41 million with the Riyadh Municipality. The agreement, officially announced on April 19, marks a new phase for the company in expanding its services in the region.

Project Details

According to Cherry's statement, the contract entails leasing 922 vehicles to the Riyadh Municipality for a duration of three years. This strategic initiative is aimed at supporting the municipality's operational needs while enhancing the efficiency of its services.

Financial Impact Timeline

The financial impacts of this contract will start to reflect in the company’s balance sheets from the third quarter of 2026. Cherry Trading Co. has confirmed that there are no related parties involved in this transaction, ensuring a transparent agreement with the municipality.

Conclusion

This contract not only highlights Cherry Trading Co.'s capacity to engage in substantial projects but also reflects the growing demand for vehicle leasing services within Riyadh. As the company prepares for the anticipated financial implications, it positions itself for further growth and sustainability in the vehicle leasing sector.