Sinad says broker pays claim amount of SAR 5.2M in north Riyadh land lawsuit

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Sinad Holding Co. said that the purchase broker paid the claimed amount of SAR 5.24 million, in compliance with the ruling issued in favor of the company in north Riyadh land lawsuit.

 

In a statement to Tadawul, the company said that the positive financial impact will appear in the annual consolidated financial statements for 2024.

 

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According to data compiled by Argaam, Sinad filed a lawsuit in December 2019 against the purchase broker of the land located in north of Riyadh and requested a refund of the SAR 5.24 million paid as commission.

 

In June 2023, the company said that the Court of Appeal issued a ruling in favor of the company and upheld the preliminary ruling obligating the broker to pay SAR 5.24 million to the company.

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