Saudi Automotive Services Company (SASCO) has signed an agreement to sell a property owned by its subsidiary, Oil Services Company, in Jeddah for SR44.5 million ($11.87 million) as part of its ongoing strategy to optimize its real estate portfolio and strengthen liquidity.
The transaction supports the company’s broader financial and investment plans while improving the efficiency of its asset portfolio.
Transaction Details
According to SASCO, the buyer is Bayat Real Estate Company. The agreement includes an initial payment of SR4.45 million upon signing, with the remaining balance to be paid within 30 days.
The property covers 2,148.2 square meters and is located in Al Nahdah District on King Abdulaziz Road in Jeddah. The site currently includes a fuel station.
Financial Impact Expected in Q3
The company stated in its filing with Saudi Exchange (Tadawul) that the property’s book value stood at approximately SR43.95 million as of June 30, 2026.
SASCO expects the transaction to positively impact its financial results during the third quarter of 2026.
Supporting Future Growth
The company said the proceeds from the sale will be used to execute its strategic plan, strengthen financial and investment activities, and continue restructuring its real estate portfolio.
Founded in 1982, SASCO is one of Saudi Arabia’s leading automotive service providers, operating an extensive network of fuel stations, service centers, retail operations, and logistics services, with a paid-up capital of SR700 million.
