SAR 376.1M lawsuit filed against SENAAT subsidiary

Lawsuit seeks SAR 376.15 mln compensation and SAR 37.6 mln attorney fees, SENAAT said

Advanced Building Industries Co. (SENAAT) announced that MIDAD Real Estate Co. filed a financial compensation lawsuit on Nov. 13, with the Commercial Court in Jeddah against its subsidiary, Zamil Air Conditioning and Refrigeration Services Co.

The lawsuit claims SAR 376.15 million, in addition to SAR 37.6 million in attorney fees, SENAAT said in a statement to Tadawul.

The lawsuit seeks compensation for construction services to finalize contracting works—including manufacturing, supplying, and installing—from Zamil Air Conditioning and Refrigeration Services as the main contractor.

The project is associated with the Four Seasons Hotel on Jeddah Corniche, the statement added.

SENNAT said it is unable to determine the potential financial impact, legal consequences, or risks associated with the case at present.

Any updates will be disclosed in due course, it added.

Based on the documents available regarding the project, the company has obtained legal advice confirming the strength of its subsidiary’s position under the Law of Commercial Courts, the Civil Transactions Law, and related regulations. Accordingly, it does not expect to incur any liability as a result of the lawsuit.

The company has also appointed an external lawyer to respond to the case and protect its interests.

Zamil Air Conditioning and Refrigeration Services is a subsidiary of Zamil Air Conditioners Holding Co., which is owned by SENAAT.