SENAAT says court dismisses lawsuit against subsidiary

10:03 AM (Mecca time) Argaam
Logo ofAdvanced Building Industries Co. (SENAAT)

Logo of Advanced Building Industries Co. (SENAAT)

Advanced Building Industries Co. (SENAAT) said the Commercial Court in Dammam issued an initial ruling dismissing a lawsuit filed by Midad Real Estate Co. against its subsidiary, Zamil Air Conditioners Co.

 

In a statement to Tadawul, the company described the ruling as positive, saying it strengthens the group’s legal position and reflects the robustness of its governance and legal framework.

 

SENAAT said it will continue to pursue all necessary legal procedures to safeguard shareholders’ rights.

 

According to Argaam data, SENAAT said in November 2025 that Midad Real Estate had filed a lawsuit with the Commercial Court in Dammam seeking SAR 376.15 million in compensation, in addition to SAR 37.6 million in legal fees.

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