‎SASCO sells subsidiary-owned land in Jeddah for SAR 44.5M

‎<p><img src="https://argaamplus.s3.amazonaws.com/15c9bb18-3910-441b-9a34-b773990ada6d.png" ></p> <p class="ckeCaption" >SASCO expects the transaction to have a positive financial impact, on its financial results for Q3 2026</p> <hr> <p >Saudi Automotive Services Co. (<a href="https://www.argaam.com/en/tadawul/tasi/sasco" target="_blank">SASCO</a>) signed an agreement to sell a land plot owned by its subsidiary, NAFT Services Company (NAFT), for a total value of SAR 44.5 million, excluding real estate transaction tax and brokerage commission.</p> <p ></p> <p >In a statement to <strong>Tadawul</strong>, the company said the 2,148.2-square-meter plot is located on King Abdulaziz Road in Al Nahda district, Jeddah, and includes a fuel station.</p> <p ></p> <p >Under the agreement, the buyer, Bayat Real Estate Co., will pay SAR 4.45 million upon signing, with the remaining balance due within 30 days of the signing date.</p> <p ></p> <p >SASCO said the land had a book value of SAR 43.95 million as of June 30, 2026.</p> <p ></p> <p >The transaction is in line with SASCO’s plan to sell a number of real estate assets owned by the company and its subsidiaries as part of its strategy to enhance liquidity and strengthen its financial position, the statement added.</p> <p ></p> <p >SASCO expects the transaction to have a positive financial impact, which will be reflected in its financial results for Q3 2026.</p> <p ></p> <p >The company added that the sale proceeds will be used to implement its strategic plan, support its financial and investment activities, and achieve its real estate portfolio restructuring objectives.</p>

Publication

Argaam - Company Disclosures · Stock Exchange/Regulatory Announcements

Published

3rd August 2026

Original report

argaam.com

ProcIntel stores what the source published in its feed — a headline, a summary and a link. It does not store or reproduce the full article.