Court orders ministry to reassess Taiba’s property

Taiba Holding Company said it secured a final court ruling requiring the Saudi Ministry of Finance to reevaluate a property expropriated from the company.

The Makkah Court of Administrative Appeals upheld an earlier ruling rendered on January 6, 2014 ordering the ministry to reassess the value of the property based on the rules of expropriation for public interest.

The company said the judgment is now final and binding.