Saudi Fisheries completes transfer of Al-Haridha shrimp project land lease

Saudi Fisheries expects the transaction's financial impact to be reflected in Q4 2026, subject to completion of regulatory procedures

Saudi Fisheries Co. said it completed the issuance and transfer of the agricultural land lease for its shrimp farming project in Al-Haridha to Al-Haridha National Aquaculture Co. for a term of 30 Hijri years, starting in 1448 AH, at an annual rental value of SAR 7,500.

In a statement to Tadawul, the company said it has thereby fulfilled all its obligations under the sale agreement signed with Sara National Trading Co. and its addendum, paving the way for Al-Haridha to commence commercial operations.

The relevant financial impact will likely appear in Q4 2026 once the necessary regulatory procedures are completed. Any material developments will be announced in due course, the statement added.

In October 2025, Saudi Fisheries entered into an agreement with Sara National Trading, under which the latter will acquire a controlling 51% stake in Al-Haridha for SAR 33.2 million, according to Argaam data.

The transaction was subject to several conditions, including transferring the land lease and aquaculture licenses to Al-Haridha. Saudi Fisheries signed an addendum to the sale agreement last October.

Saudi Fisheries' accumulated losses reached SAR 24.8 million, representing 37.03% of its SAR 66.99 million share capital, according to its financial statements for the period ended Sept. 30, 2026.

The company said completing the sale of its 51% stake in Al-Haridha to Sara National Trading would be among the measures taken to address its accumulated losses.