National Gypsum notified of compensation for expropriated land in Jeddah

10/09/2023 Argaam

National Gypsum notified of compensation for expropriated land in Jeddah

Logo of National Gypsum Company (NGC)

National Gypsum Co. (NGC) received a notice from the State Properties General Authority (SPGA) about the financial compensation for its land in Jeddah's Bani Malik neighborhood on Palestine Street. The land was expropriated under the slum project as per the decision of Deputy Governor of Makkah on Feb. 1, 2022.

 

The company plans to object to this compensation and seek a reassessment from the relevant authorities, NGC said in a statement to Tadawul.

 

Any updates and the relevant financial impact will be announced in due course, NGC added.

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