Saudi Cable redeems SAR 44M compensation for expropriated land in Jeddah

11/03/2026 Argaam
Logo ofSaudi Cable Co.

Logo of Saudi Cable Co.

Saudi Cable Co. (SCC) received today, March 11, compensation for expropriated land located in Al-Montazhat neighborhood of Kilowa 12 in Jeddah, with an area of 48,900 square meters, as part of the removal of informal settlements in the city.

 

The compensation amounted to SAR 44.08 million.

 

In a statement to Tadawul, the company said it had submitted a request to the State Properties General Authority (SPGA) on Oct. 19, 2022, seeking financial compensation for the expropriation of the land.

 

The financial impact of receiving the compensation amount will be reflected in the company’s financial statements, the statement added.

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