Nesma & Partners and Tarmeem Sign Two Strategic MoUs at Future Projects Forum 2024

 Al Khobar, May 20, 2024 – Nesma & Partners, the leading contracting company in the Kingdom of Saudi Arabia, and Tarmeem, a prominent charity specializing in renovating houses for families in need, proudly announce the signing of two Memorandums of Understanding (MoUs) at the Future Projects Forum 2024. These strategic partnerships aim to enhance Tarmeem’s digital presence and promote the development of local contractors, showcasing Nesma & Partners' unwavering commitment to corporate social responsibility and community support.

The first MoU designates Nesma & Partners as the Digital Media Sponsor for Tarmeem. This partnership focuses on enhancing Tarmeem's digital presence and promoting their professional renovation expertise across the Kingdom through innovative digital media and marketing campaigns. The collaboration seeks to expand Tarmeem's reach and impact, achieve targeted returns, and highlight Nesma & Partners' brand as a supportive and socially responsible company.

Samer Abdul Samad, President & CEO of Nesma & Partners, commented: “We are thrilled to sign this MoU with Tarmeem for Digital Media Sponsorship. This partnership represents a significant step towards our commitment to digital transformation and supporting local initiatives through innovative marketing strategies. We aim to amplify Tarmeem's impactful work across the Kingdom while reinforcing our role in corporate social responsibility.”

The second MoU extends the “Saudi Contracting Pioneers Initiative.” This unique initiative aims to stimulate and develop contractors, particularly entrepreneurs specializing in contracting, reaffirming Nesma & Partners' dedication to community support.

Under this agreement, Nesma & Partners will partner with Tarmeem to attract and support several local startup contracting companies, creating a positive impact by renovating and rehabilitating houses for families most in need. The initiative targets the engagement of at least 10 more contractors in 2024, to renovate over 70 houses. Nesma & Partners will provide training and advisory support regarding the technical and legal aspects of the startup companies participating in this initiative, ensuring their organizational and technical development. Additionally, the initiative aims to support local content by adopting restoration materials from emerging local building material companies.

Since the inception of their strategic partnership, Tarmeem has rehabilitated over 140 houses sponsored by Nesma & Partners. Earlier this year, the two parties signed another agreement to renovate an additional 60 houses in 2024.

The signing ceremony occurred during the Future Projects Forum, a premier event organized by the Saudi Contractors Authority, where Nesma & Partners is a Platinum Sponsor. This annual event showcases future projects and promotes industry collaboration.

Rami Alturki, ExCom Chairman and Board Member of Nesma & Partners, stated: “We are immensely proud to extend this initiative with Tarmeem for another year. Following the successful sponsorship of ten local entrepreneur contracting companies, it is a great opportunity to continue supporting startup contractors and establish new synergies to realize our mission of localizing opportunities and value while supporting sustainable socio-economic development in the Kingdom. This initiative highlights the importance of in-kingdom contribution as a pillar of our company’s strategy for growth. We continue to maximize the localization of our supply chain, with 97.53% of our main material orders in 2023 sourced from local vendors.”

It is worth noting that these two agreements are out of five active agreements between Nesma & Partners and Tarmeem Charity. These new agreements reaffirm Nesma & Partners' commitment to fostering innovation and sustainability within the local contracting sector while supporting community-centric initiatives. By leveraging digital transformation and local collaboration, Nesma & Partners and Tarmeem are set to create lasting, positive change across the Kingdom, paving the way for future growth and prosperity.