Al-Jouf Agricultural says justice ministry endorses deed to own 426.5 mln sqm land

Logo of Al-Jouf Agricultural Development Co.

Al-Jouf Agricultural Development Co. announced in a bourse statement the issuance of a land title from the Ministry of Justice on the decision of the Ministry of Environment, Water and Agriculture, which includes the company's ownership of plot (1), spanning 331.14 million square meters (sqm) and located in Busita, and the document for its transcribing.

It also includes ratification by the Ministry of Justice on the decision for the ownership of the company plot (2), spanning 95.39 million sqm and located in Busita, and the document for its transcribing.

The financial impact of receiving the title deed will be determined later regarding to accounting standards endorsed.

According to data compiled by Argaam, Al-Jouf 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).