JAZADCO terminates agreement with Salman bin Saedan Group on Jazan housing project

Logo of Jazan Energy and Development Co. (JAZADCO)

Jazan Energy and Development Co. (JAZADCO) canceled a partnership and development agreement with Salman Abdullah bin Saedan Real Estate Group (SABS) to develop its residential project in Jazan. 

The step came following the delay in completing the work and JAZADCO’s desire to exploit the available opportunities independently, the company said in a Tadawul statement. 

In March 2018, the Saudi-listed firm signed a partnership and development deal with SABS to develop its housing project in Jazan at an estimated cost of SAR 546 million, Argaam reported.