Logo ofSaudi Automotive Services Co. (SASCO)
Saudi Automotive Services Co. (SASCO) announced that a ruling has been issued to overturn the previous verdict in its favor, which had required the Ministry of Housing to pay SAR 8.2 million as fair compensation for the expropriation of part of SASCO’s land in the Hafar Al-Batin region. The new ruling also dismisses the lawsuit. 
In a statement on Tadawul, the company clarified that this decision followed a request from the defendant, the Ministry of Housing, to overturn the ruling. Accordingly, the appeal was accepted in form and substance, and the ruling issued by Riyadh’s General Court was overturned and the lawsuit was dismissed.
The company affirmed that it will pursue legal measures to protect its rights in the case, stressing that it will file an appeal against the ruling.
This amount will be reflected in 2024’s financial statements, as the company had recorded this amount in its 2019’s statements, it said.
SASCO noted that it will announce any material developments in this regard later.
In February 2019, the General Court in Riyadh ordered the Saudi Ministry of Housing to pay SAR 8.22 million in compensation to SASCO.
In 2013, SASCO filed a legal claim against the ministry for encroachment on the former’s land in Hafar Al-Batin region.
Logo ofSaudi Automotive Services Co. (SASCO)
Saudi Automotive Services Co. (SASCO) announced that a ruling has been issued to overturn the previous verdict in its favor, which had required the Ministry of Housing to pay SAR 8.2 million as fair compensation for the expropriation of part of SASCO’s land in the Hafar Al-Batin region. The new ruling also dismisses the lawsuit.
In a statement on Tadawul, the company clarified that this decision followed a request from the defendant, the Ministry of Housing, to overturn the ruling. Accordingly, the appeal was accepted in form and substance, and the ruling issued by Riyadh’s General Court was overturned and the lawsuit was dismissed.
The company affirmed that it will pursue legal measures to protect its rights in the case, stressing that it will file an appeal against the ruling.
This amount will be reflected in 2024’s financial statements, as the company had recorded this amount in its 2019’s statements, it said.
SASCO noted that it will announce any material developments in this regard later.
In February 2019, the General Court in Riyadh ordered the Saudi Ministry of Housing to pay SAR 8.22 million in compensation to SASCO.
In 2013, SASCO filed a legal claim against the ministry for encroachment on the former’s land in Hafar Al-Batin region.
