Etqaan holds second auction for Maan Al Sanea’s assets today

06/05/2018 Argaam

Etqaan will hold today the second auction to sell properties of businessman Maan Bin Abdul Wahid Al Sanea and his company, Saad Trading Contracting & Financial Services Co.

 

The sale includes more than 30 warehouses, marble, ceramics, furniture, decorations, carpets, electric appliances, utensils, stationery, car spare parts, air conditioners, elevators, etc.  

 

The auction was organized in execution of a court ruling rendered to creditors in December 2017, Argaam reported.

 

Etqaan sold properties at SAR 50 million in the first auction held on Mar. 18.

 

The Saudi businessman was detained last year after his company (Saad Trading Contracting & Financial Services Co.) failed to pay back debts dating back to 2009, and amounting to roughly SAR 11 billion.

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