BAAN Keeping exits Newrest, launches exciting catering ops in NEOM residential project
In a significant move that underscores its ambition to expand its influence in the catering and hospitality sectors, BAAN Keeping Crew Co. has severed ties with Newrest Catering Services and Products Co., its former partner in a joint venture (JV) that previously provided catering services. This bold decision marks a new chapter for BAAN Keeping, as the company assumes full operational control of its catering tasks, aligning with its long-term growth strategy.
This transition occurred on March 3, 2025, when BAAN Keeping confirmed the dissolution of the JV, where it had previously held a 50% stake. The company issued an official statement to Tadawul, announcing the change and emphasizing that this move would strengthen its operational capabilities, enabling BAAN Keeping to further enhance its shareholder value. By consolidating all catering operations under its umbrella, BAAN Keeping aims to deliver more efficient, high-quality services and generate substantial returns on both current and future projects.
Strategic Growth in Catering & Hospitality
BAAN Keeping’s decision to assume full control of its catering operations not only reflects its strategy to boost its market presence but also emphasizes its commitment to furthering expansion within the catering and hospitality industry. This strategic pivot is especially timely, as the company builds on the successful launch of its catering services at a NEOM-based residential complex. The transition has resulted in exceptionally high levels of customer satisfaction—something BAAN Keeping is keen to replicate across future ventures.
The catering operations are part of a broader initiative to optimize efficiency and refine service quality. The company remains focused on delivering exceptional services to meet the diverse needs of its clients and to enhance the customer experience in every project it undertakes.
The NEOM Residential Project: A Game-Changer
In a move that has raised the bar for BAAN Keeping’s future ventures, the company announced the commencement of its catering operations at a residential complex within the futuristic NEOM city project. In March 2024, BAAN Keeping, formerly known as Abdulmohsen Alhokair Group for Tourism and Fashion, launched Newrest Catering as a limited liability company. The joint venture, with a capital investment of SAR 100,000, aimed to provide specialized catering, space management, and remote facility services to various locations. This move, which is part of a larger expansion plan, is now fully managed by BAAN Keeping, signaling the company’s readiness to take on larger projects in the hospitality space.
The NEOM residential complex catering operations, which are set to serve high-end clientele, are backed by a six-year services contract valued at approximately SAR 436 million. This contract includes the provision of meals and catering services for residents at the Contemporary Village. The contract value is subject to fluctuations based on occupancy rates and the number of residents, ensuring that the company’s revenue aligns with the success and growth of the residential community.
BAAN Keeping’s Commitment to Efficiency and Growth
The decision to take over the operations also stems from BAAN Keeping’s desire to increase its operational efficiency. By bringing all facets of its catering services in-house, the company believes it can better manage and optimize its processes to offer a higher standard of service, all while reducing operational costs. This move aligns with BAAN Keeping’s broader mission to enhance shareholder value by securing sustainable returns from both its current portfolio and future projects.
The company has already demonstrated its ability to effectively manage catering services within a complex and demanding environment. With the delivery of high-quality services at the NEOM residential complex, BAAN Keeping has set a benchmark for future projects, aiming to replicate its success in other ventures.
Looking Ahead: Expanding into New Horizons
BAAN Keeping’s recent transition represents just the beginning of a broader strategy that targets the expansion of its hospitality and catering services. The company remains steadfast in its commitment to growth, with future plans to scale its operations and increase its market share in the catering industry. The successful integration of catering services into the NEOM residential project is a prime example of BAAN Keeping’s dedication to offering world-class solutions that meet the highest standards of quality and customer satisfaction.
As BAAN Keeping continues to optimize its operations and expand its service offerings, the company is poised to become a key player in the hospitality sector, not only in Saudi Arabia but also in the wider Middle Eastern market. Its commitment to excellence, innovation, and sustainability makes BAAN Keeping an exciting brand to watch in the coming years.
For further information on BAAN Keeping and its initiatives in the hospitality sector, visit BizTechLive.
To learn more about NEOM’s ambitious developments and other key projects, check out this resource.
