Riyadh – Mubasher: Saudi Arabian Amiantit Company issued a shareholder update regarding its industrial land asset located in the Al Mulaysa scheme (Al Quzain).

The company originally acquired the property in 2009 for a total value of SAR 150 million.

The land is currently subject to suspension by the Jeddah Municipality as part of a broader plan to subdivide the district in preparation for the issuance of electronic title deeds.

Amiantit confirmed it is in continuous communication with the Jeddah Municipality to monitor developments.

Furthermore, the company has dispatched official correspondence to both the Jeddah Municipality and the State Properties General Authority to inquire about the current regulatory status of the asset.

As of the disclosure date, the company has not received a formal response from the relevant authorities. Amiantit stated it will disclose any material updates regarding the regulatory status or the issuance of the electronic deeds as they occur.

At the end of June 2026, the company suffered net losses valued at SAR 122.96 million, an annual hike from SAR 9.60 million.