Riyadh – Mubasher: Aseer Trading, Tourism and Manufacturing Company (Aseer) on 8 November received a judgment of first instance in its favour from Riyadh General Court regarding a lawsuit it filed against the seller of the land plot located in the north of Riyadh city.

The court ordered the termination of the contract inked between Aseer and the land seller and further obliged the seller to pay SAR 202 million to Aseer, according to a stock exchange statement on Monday.

The ruling has no material effect on the company’s financials, Aseer said, noting that it will provide further relevant details in due course.

Last year, Aseer filed a lawsuit against the said seller, demanding refund of the sum paid to him worth SAR 202 million.