Riyadh – Mubasher: Saudi Ceramic Company has received a letter of apology from Elkhereiji Real Estate Co for the cancellation of a planned purchase of a property owned by the first worth SAR 26 million.

Elkhereiji said that it cannot buy the property at the agreed price amidst the prevailing economic circumstances due to the coronavirus (COVID-19) pandemic, according to a stock exchange statement on Thursday.

Saudi Ceramic continues to invest in the property through leasing and will examine the best available options for its interest.

On 5 March 2020, Saudi Ceramic announced its intention to sell the said property to Elkhereiji.

It is worth noting that board member Abdulaziz Abdula Karim Al Khereiji represents Elkhereiji in Saudi Ceramic.