To further align with Vision 2030 and the strategic objectives of the Kingdom, as well as through its belief that all major transformative and Giga projects will be tendered via a non-recourse project-financing model, SATCO established its PPP Unit in 2022 to develop such projects in its existing operating sectors as well as venture out into new territories.  SATCO’s PPP unit was awarded, as Co-developer, to Design Build Finance Operate and Maintain (DBFOM) the Neom Residential Community 9 (NRC9) until the year 2030 for 10,000 residents.  Although, NRC9 is SATCO’s first non-recourse project finance deal, SATCO has a long history of PPP projects through a BOT or BOO model using corporate finance, including Neom Construction Village 3 (NCV3), Um Salal Construction Village in Qatar, King Khalid International Airport BOT, Abha Airport BOT, Arar Airport BOT, and Tabuk Airport BOT.