More assets of Maan Al Sanea, Saad Trading to be sold

The Etqaan Alliance has launched the sale of several properties held by businessman Maan Bin Abdul Wahid Al Sanea and Saad Trading Contracting & Financial Services Company, the auctioneer said in a statement.

The properties include two buildings in Northern Khobar, the land of Al-Azizeya Farm, and the land of a tennis court also in Khobar.

Etqaan Alliance will also sell land located on King Saud Road, land plots in Dammam Showrooms 1, 2 and 3, and a land plot on Pepsi Street in Khobar, as well as the parking lots of two buildings on King Abdulazizi Road.

A residential compound and several plots of land in Khobar will also be sold.

Saudi businessman Maan Al Sanea was detained last year after his company, Saad Trading, failed to repay debts dating back to 2009, amounting to roughly SAR 11 billion.

The Etqaan Alliance is a consortium appointed late last year by a tribunal to resolve Saad’s debt dispute.

The alliance sold over 1,142 of vehicles worth SAR 50 million in the first auction. In the second auction, more than SAR 29 million worth of marble, ceramics and furniture were sold.