Riyadh-Mubasher: SABB Takaful said it has reached a settlement agreement with INMAIA Real Estate and Tourism, under which the insurer will pay SAR 9.25 million as compensation for damages to its Central Park Building in Jeddah.

Accordingly, the insurance company was cleared from the dispute irrevocably.

INMAIA had earlier taken legal action against the insurance firm, claiming SAR 65.9 million as compensation for damages which occurred to the Central Park Building.