‎Riyadh Court orders land seller to pay SAR 202 mln to Aseer Trading

‎Riyadh Court orders land seller to pay SAR 202 mln to Aseer Trading

Logo of Aseer Trading, Tourism and Manufacturing Co.

Aseer Trading, Tourism and Manufacturing Co. said a preliminary ruling was issued in its favor by Riyadh General Court

The company was notified by its lawyer, on Feb. 2, that the preliminary ruling was issued on terminating the sale contract pertaining to north Riyadh land between Aseer and the seller, Aseer said in a statement to Tadawul.

The seller was ordered by the court to repay a total of SAR 202 million to Aseer.

The litigants will receive a copy of this ruling on Feb. 6, and each party has the right to appeal during 30 days from ruling date.

In November 2020, a Saudi court delivered a preliminary ruling in favor of Aseer. The court ordered termination of the agreement, signed in November 2008, by Aseer and the land seller, Argaam reported.

In December 2019, Aseer filed a lawsuit against the land seller, claiming refunds of the land price paid to him at SAR 202 million, Argaam earlier reported.

It also filed a claim against the deal broker requesting a refund of SAR 5.24 million in commission.