Al Gassim Investment Holding Co. (GACO) was allowed by virtue of a letter from the Ministry of Environment, Water, and Agriculture, dated on June 15, to own a 74.04 million square meter-land plot out of the total area granted thereto in Shari, Qassim.
The approval was granted following the Royal Decree issued on June 10, the company said in a bourse statement on Monday.
GACO will announce the relevant finance impact in due course, the statement added.
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