BAAN Holding Group Co. ceased its partnership with Newrest Catering Services Co., a joint venture (JV) formed to provide catering and hospitality services, in which the former held a 50% stake.   In a statement to Tadawul today, March 3, BAAN Holding explained that under the move, it assumed full operational control of all catering projects.

The company reaffirmed its commitment to further expand into the catering and hospitality sector. It is also focused on optimizing efficiency to ensure high-quality services.

The decision followed its successful launch of catering operations at a residential complex in NEOM, where it achieved high customer satisfaction.

In January, BAAN Holding was awarded a contract to provide catering and hospitality services at a NEOM-based residential complex. The project is operated by Sustainable Services Co., a subsidiary of Almutlaq Real Estate Co. (AREIC), data compiled by Argaam showed.

Read the full story at Argaam