Anaam wins ruling over Jeddah land masterplan dispute

Logo of Anaam International Holding Group

Anaam International Holding Group received today, Oct. 1, a court ruling in its favor from the Administrative Court of the Board of Grievances in case No. 8149/1447H.

The judgment annuls Jeddah Municipality’s decision to withhold the regulatory site plan for land owned by the company under deed No. 260662000251, the company said in a statement to Tadawul.

Anaam stated that the decision will have a favorable financial effect after the execution processes are finished and that it will reveal any significant developments in due course.

In November 2022, Anaam announced it had received an electronic title deed for the full ownership of its 151,500-square-meter plot in the Al-Khumra district, Jeddah, according to Argaam’s data.

In 2018, the company applied for permits to build dry warehouses on the land at a cost of SAR 13.5 million. However, the process, initially expected to conclude between 4Q19 and 1Q20, was delayed after the municipality requested additional requirements, including a site plan and the conversion of the land deed into electronic format.