Correction: JAZADCO says earned SAR 31.4 mln from sale of agricultural plot

26/06/2022 Argaam

Logo of Jazan Energy and Development Co.

Jazan Energy and Development Co. (JAZADCO) said in a correction statement to Tadawul that it recorded a gain of nearly SAR 31.4 million from the sale of an agricultural land plot. These gains will be fully recognized in the company’s Q2 2022 income statement.  

 

JAZADCO said today, June 23, that it sold an agricultural land plot in Jazan region for SAR 35 million, inclusive of real estate transaction tax, to Falat Real Estate Co. 

  

The land’s book value stands at SAR 1.96 million.  

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