“Space 42” signs a contract worth 18.7 billion dirhams with the UAE government

The UAE company Space 42, which works in the field of space technology supported by artificial intelligence, signed a contract worth 18.7 billion dirhams with the UAE government, to provide vital and secure space communications services for another 17 years, extending from 2026 to 2043.

The company stated, in a statement, that this contract strengthens its financial position, as it represents the vast majority of the contracted future revenues amounting to 26 billion dirhams.

Under the contract, Space 42 will provide secure and reliable satellite communications services to the UAE government, in addition to related managed services through the two satellites currently in orbit, “Al Yah 1” and “Al Yah 2,” and in the future through two new advanced satellites, namely: “Al Yah 4” and “Al Yah 5”, expected to be launched in 2027 and 2028, respectively.

The contract also replaces two existing agreements, namely the Satellite Services Agreement (CSA) and the Managed Services Delegation Agreement (MSM), noting that these two agreements expire in November and December 2026, respectively.

The contract includes a set of services related to the operation, maintenance and technical management of ground satellite systems and substations, which the company is currently providing to the UAE government under a separate contract.

Under the contract, Space 42 will receive 3.7 billion dirhams in new advance payments during the construction period of the “Al Yah 4” and “Al Yah 5” satellites, as the two new satellites will provide secure government communications services for a geographical area that includes the Middle East, Africa, Europe and Asia.

Ali Al Hashemi, CEO of Yahsat, the space services company affiliated with Space 42, said: “We are proud to conclude this contract with the UAE government, which confirms the continued confidence in Space 42’s solutions, and pushes us to move forward in providing space technology solutions to meet various needs.” Government requirements for efficiency, safety and reliability.

He added: “Our newest satellites, (Al Yah 4) and (Al Yah 5), will provide new capabilities to enhance our technologies and services.”