Space42, a company listed on the Abu Dhabi Securities Exchange, has announced a groundbreaking AED 18.7 billion agreement with the UAE government to provide secure and vital satellite communication services for 17 years, from 2026 to 2043.
Enhancing the UAE’s Space Future
This strategic deal will replace two existing agreements set to expire in November and December 2026. It includes AED 3.7 billion in upfront payments during the development of two new satellites, “Yah 4” and “Yah 5,” scheduled for launch in 2027 and 2028.
The company will rely on its current satellites, “Yah 1” and “Yah 2,” alongside the new additions to deliver state-of-the-art satellite communication services.
Boosting Space Infrastructure and Revenue
The agreement significantly strengthens Space42’s contracted future revenues, which totaled AED 26 billion as of September 30, 2024. This deal marks a major milestone, accounting for the majority of the company’s projected income.
The partnership highlights the UAE’s commitment to advancing its space infrastructure by ensuring cutting-edge, secure satellite communication services. It also enhances Space42’s competitive position in regional and international markets while solidifying government-backed support for large-scale space projects.
A Leap Forward in Strategy
Space42 described the deal as transformative, emphasizing its focus on managed services through “Yah 4” and “Yah 5” satellites. These services will meet the highest global standards for security and reliability, positioning the company as a key player in the UAE’s burgeoning space sector.
This agreement is a cornerstone of Space42’s long-term strategy, reinforcing the UAE’s standing as a technological powerhouse and paving the way for new achievements in space exploration.