SAIB clarifies details of Riyadh land plot sale

SAIB receives SAR 801.1 million from selling Riyadh land plot, after deducting the costs and expenses related to the public auction.

The Saudi Investment Bank (SAIB) announced the completion of the sale deal of a 44.4%-owned land plot located on Khurais Road, Riyadh.

The deal was closed after receiving a notification from the Entrustment and Liquidation Center (infath) on Nov. 12, 2025, stating the completion of the transfer of ownership of the property. However, the sale amount was collected on Nov. 24.

In a statement to Tadawul, the bank clarified that the land was acquired on September 29, 2016, and the public auction was held on August 27, 2025. The bank requested the execution of the property sale, in order to exit the investment in accordance with regulations. The court assigned the infath to oversee the sale process, making the bank the final beneficiary of its share of the proceeds.

With a book value of SAR 265.89 million, the bank’s share of the net sale proceeds, after deducting the costs and expenses related to the public auction, amounts to SAR 801.1 million. Accordingly, the relevant impact of the transaction is expected to be positive on the bank’s financial results during Q4 2025, the statement added.

No related parties are included in the deal.

According to data available on Argaam, SAIB announced last week finalizing the sale of a 44.4%-owned land spanning a total area of 2.7 million square meters on Khurais Road in Riyadh.