Al-Jouf receives ownership of 426.5 mln sqm land grant

Al-Jouf Agricultural Development Co. received, on June 25, a decision issued by the Ministry of Environment, Water and Agriculture regarding the ownership of the land grant of 426.53 million square meters (sqm).

The company said in a statement to Tadawul that the land is represented in the following:-

-Plot No (1), located in Basita, covering an area of 331.14 million sqm

-Plot No (2), located in Basita, covering an area of 95.39 million sqm

The financial impact resulting from the decision will be disclosed later, the statement added.

The decision was based on the Royal Order and the Cabinet’s resolution to grant the joint stock agricultural companies areas equivalent to the cultivated land of the total grant.