Tamasuk has partnered with Al Majal Arabi (as EPC Contractor and co-sponsor) for NRC 5-6 and is also involved in the delivery of Facilities Management Services via a joint venture partnership between TOFM (its subsidiary) and Al Majal Arabi.

TOFM has partnered wirth Al Majal Arabi to form a joint-venture company which is performing the operations, maintenance and facilities management of Tamasuk’s NEOM residential community projects NRC5 and NRC9.

Aug 30, 2023 · Mohammed Al Balwi, Chairman of Tamasuk, said, “We are immensely proud to be NEOM’s infrastructure partners. Together with Almajal and SATCO, we are committed to delivering the infrastructure that will facilitate the wider and rapid development of NEOM.”

Jun 6, 2023 · NEOM, Kingdom of Saudi Arabia – NEOM has announced that it has finalized contracts with investors for the first phase of its residential communities’ expansion, a social infrastructure project that will house the region’s growing workforce.

Apr 2, 2025 · Tabuk, June 06, 2023, SPA -- NEOM has announced that it has finalized contracts with investors for the first phase of its residential communities’ expansion, a social infrastructure project that will house the region’s growing workforce.

Jun 6, 2023 · Tamasuk Holding Co. will be investing in the project through two separate partners — Al Majal Al Arabi Group Co. and the Saudi Arabian Trade and Construction Co. The deal goes well with the $500...

Jun 6, 2023 · NEOM, Kingdom of Saudi Arabia, June 6, 2023 – NEOM has announced that it has finalized contracts with investors for the first phase of its residential communities’ expansion, a social infrastructure project that will house the region’s growing workforce.

Jun 6, 2023 · Saudi Arabia’s NEOM has finalised a deal worth more than $5.6bn (SAR21bn) with a consortium of local investors for the first phase of the futuristic mega-city’s residential communities for its...

Mar 30, 2025 · Tamasuk Holding Co. will be investing in the project through two separate partners — Al Majal Al Arabi Group Co. and the Saudi Arabian Trade and Construction Co. The deal goes well with the $500 billion project’s plan for more private sector participation in …

Jun 26, 2023 · NEOM has finalised contracts with investors for the first phase of its residential communities’ expansion with the agreement amounting to a total value of SAR 21bn, making it one of the largest international public-private partnerships for accommodation.