On August 3, 2026, Saudi Automotive Services Co. (SASCO) announced the signing of a sale agreement for a 2,148.20 m² plot of land located in Al-Nahda district, King Abdulaziz Road, Jeddah, owned by its subsidiary Naft Services Co. (Naft), sold to Bayat Real Estate Co. for SAR 44,500,000 (excluding real estate transaction tax and commission), against a book value of SAR 43,946,775 as of June 30, 2026. The transaction, entered into on August 2, 2026, requires the buyer to pay SAR 4,450,000 upon signing, with the remainder due within 30 days. The sale aligns with SASCO's strategy to divest real estate assets to generate cash flow and enhance financial solvency, with the positive financial impact expected to be reflected in the company's Q3 2026 results.

Original announcement:

Note: The original announcement does not explicitly specify a currency unit. Figures above are reproduced as-is. Please refer to the original announcement for details.

Important Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.