Logo of Saudi Fisheries Co.

Saudi Fisheries Co. (SFICO) was notified by Jeddah Municipality to vacate and demolish ‎the office building located in Al Rawabi District,‎Jeddah, as of June 11, since it falls within the scope of the ‎slums that should be removed. 

 

The building land was allocated to the company by virtue of Royal ‎Decree No. 41355, dated July 29, 2012, in exchange of increasing the ‎state’s share in its capital, the company said in a statement to Tadawul.  

 

The company is still ‎following up on the land evacuation procedures with the relevant authorities, in adherence to the ‎Royal Decree.‎  

 

The financial impact cannot be determined at ‎the present time. Any developments in this regard will ‎be announced in due time, the statement added.‎  

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