SASCO plans to sell over SAR 500M real estate assets

A SASCO fuel station

Saudi Automotive Services Co. (SASCO) announced plans to sell a number of real estate assets owned by the company and its subsidiaries, with the estimated value exceeding SAR 500 million. The sales are expected to take place over the course of 2025 and 2026.

In a statement to Tadawul, SASCO highlighted that this move aligns with its strategic goals of enhancing cash liquidity, improving operational efficiency, and achieving sustainable investment returns.

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The company explained that this step is part of its broader efforts to restructure its real estate portfolio, taking advantage of the high market value of select assets. This initiative is expected to support its expansion plans, increase shareholder value, and boost the return on assets.

SASCO reiterated its commitment to evaluate investment opportunities to strike a balance between expanding its station network and maximizing financial returns for investors.

In a separate statement to Tadawul, the company said its board of directors approved, on May 7, the restructuring of ownership for several wholly owned subsidiaries.

The board resolved to transfer ownership of the Saudi Automobile Association (SATA), a limited liability company (LLC), to Ostool AlNaqil Co., a closed joint-stock company. This move aims to expand SASCO’s participation in logistics activities by leveraging the expertise of both entities.

Additionally, the company said the board decided to transfer the affiliation of Al Nakhla Al Oula Contracting Co. LLC. to SASCO Stations Co. for Petroleum Services. SASCO Stations is responsible for managing, operating, and developing all fuel stations independently from the parent company.

The company emphasized that this restructuring is intended to enhance operational efficiency and performance across SASCO and its subsidiaries, noting that the changes will have no significant financial impact on the company.