SARCO wins SAR 33M land auction in Riyadh

03:59 PM (Mecca time) Argaam
Logo ofSaudi Arabian Refineries Co. (SARCO)

Logo of Saudi Arabian Refineries Co. (SARCO) 

Saudi Arabian Refineries Co. (SARCO) announced that it has won an auction to purchase a 103,140 square meter commercial land plot on Al Kharj Road, Riyadh.

 

The auction was offered through Infath platform on Jan. 27.

 

In a statement to Tadawul, the company said the land value amounted to SAR 33 million, excluding brokerage fees and real estate transaction tax. The purchase aimed to invest the land in a way that supports the company’s operational and expansion objectives.

 

SARCO said it would disclose further details upon completion of title transfer procedures and registration of the deed.

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