The deal has set NASA back by thrice the cost of the 2022 Falcon Heavy launch of a probe to study the asteroid Psyche.
The mission will last 6 hrs and is carrying 24 payloads which are to be deployed in multiple orbits.
Elon Musk has said that this will be the most complicated and most difficult launch ever.
The Falcon Heavy rocket blasted off from NASA's historic Pad 39A earlier this morning.
Arabsat-6A is expected to provide Middle East, Africa & Europe with TV & secure communication services.
The launch will be SpaceX's fourth this year & the first of 2 Falcon Heavy launches in 2019.
The test, short though it was, reveals a lot to the engineers working on its development.
Musk said that a voyage to Mars will cost at least a couple of hundred thousand dollars.
Instead of upgrading Falcon 9 for more reusability, SpaceX was now focusing on "accelerating BFR".
The next mission for SpaceX will also be involving low-earth orbit satellites for Iridium Next.
SpaceX's Falcon Heavy can carry nearly twice as much payload as compared to ULA's Delta IV rocket.
SpaceX has asked NASA for a 67-acre patch of land and if everything goes as planned then this proposed operation area will be located about a mile from KSC.
Musk still hopes for the BFR to land on Mars in 2022 and the first couple of missions will be focussing on sending just the cargo, followed by humans.
SpaceX said on its website that the fairing, which was shielding the payload, will be recovered and will be caught by a high-speed boat called Mr Steven.
SpaceX Falcon 9 rocket carrying Spain's Starlink broadband and the Paz radar-imaging satellite to launch on 21 February
SpaceX is expected to launch two prototype satellites, called Microsat-2a and Microsat-2b, as part of its Starlink broadband satellite constellation.
SpaceX fan Ben Pearson has created the website that makes use of NASA's Jet Propulsion Laboratory Horizons data to track the progress of the Tesla Roadster.
SpaceX is merely the beginning, and we can expect to witness a massive industry for space exploration to bloom in the next couple of decades.
Musk said in a speech in 2015 in Seattle that SpaceX planned to launch a satellite-internet business that would help fund a future city on Mars.
Tesla Roadster sent in space by SpaceX on the Falcon Heavy seen drifting in space by an observatory in Arizona
It released a GIF showing the Tesla moving across space, looking a lot like a comet or asteroid. The GIF strings together 54 images captured by Tenagra.