Riyadh — Mubasher: Saudi Automotive Services Company (SASCO) announced the sale of a land plot in the Al Marwah district of Jeddah for a total value of SAR 20.30 million.
The transaction, which does not include real estate transaction tax, was finalized with the buyer, Al Hushoom Investment Company, on 7 October 2026.
The property covers a total area of 3,103 square meters and currently houses a fuel station. According to the company's financial records as of 30 September, the assets carried a book value of SAR 17.20 million.
SASCO confirmed that the full sale price has been received and the title deed transfer was completed on the same day as the agreement.
This divestment aligns with the company’s broader strategy to sell select real estate assets owned by the firm and its subsidiaries to generate cash liquidity and strengthen its financial solvency.
Proceeds from the sale are earmarked to support financial and investment activities while restructuring the corporate real estate portfolio.
SASCO expects the positive financial impact of the deal to be reflected in its financial results for the fourth quarter (Q4) of 2026. No related parties were involved in the transaction.
In the first half (H1) of 2026, the company shifted to a net loss of SAR 29.69 million, compared to a net profit of SAR 33.98 million in H1-25.
