SASCO recorded a gain of SAR 145,800 from the expropriation of a property in Jeddah for the Jeddah Historic District project.
Saudi Automotive Services Co. (SASCO) completed, on Oct. 27, the ownership transfer of a property belonging to its subsidiary, NAFT Services Co. (NAFT) in favor of the Jeddah Historic District project. 
In a statement to Tadawul, SASCO said the financial impact of the expropriation was a gain of approximately SAR 145,800.
The company added that goodwill allocated to the site arising from the acquisition amounted to approximately SAR 8.2 million. The goodwill will be tested for impairment at year-end in accordance with International Financial Reporting Standards (IFRS).
The resulting financial impact will be reflected in the consolidated financial statements for 2026.
SASCO announced in June that it had received SAR 13.02 million in compensation for the expropriation of the station located in Jeddah, according to Argaam data.
SASCO recorded a gain of SAR 145,800 from the expropriation of a property in Jeddah for the Jeddah Historic District project.
Saudi Automotive Services Co. (SASCO) completed, on Oct. 27, the ownership transfer of a property belonging to its subsidiary, NAFT Services Co. (NAFT) in favor of the Jeddah Historic District project.
In a statement to Tadawul, SASCO said the financial impact of the expropriation was a gain of approximately SAR 145,800.
The company added that goodwill allocated to the site arising from the acquisition amounted to approximately SAR 8.2 million. The goodwill will be tested for impairment at year-end in accordance with International Financial Reporting Standards (IFRS).
The resulting financial impact will be reflected in the consolidated financial statements for 2026.
SASCO announced in June that it had received SAR 13.02 million in compensation for the expropriation of the station located in Jeddah, according to Argaam data.
