Riyadh-Mubasher: Saudi Telecom Co. (STC) said Riyadh Administrative Court issued on Sunday a final rule supporting the primary one related to re-forming a committee to evaluate Al Faisaliah land, according to the company’s statement to Tadawul.
In June 2014, the finance ministry decided to expropriate the company’s 1.04 million sq m land plot in Al Faisaliah whose book value reaches SAR 105.25 million.
In December 2014, the company said it was notified by the state properties department of taking the procedures to evacuate the land, with damages reaching SAR 726.27 million.
The telecom operator objected the compensation value which – in its view - is less than the land’s fair value.
