Based on the decision of the Enforcement Court in Al-Khobar, “Inqan Consortium” announced yesterday, Saturday, that it will hold the first public auction to sell vehicles and equipment belonging to Ma’an bin Abdulwahid Al-Sanea and Saad Trading and Contracting Company, starting at 4:00 p.m. on Sunday, March 18, 2018, at the Saad Industrial Center on Al-Ahsa Road. The auction will run daily from 9:00 a.m. until Maghrib prayer until Thursday, 5/7/1439.

The auction features more than 900 vehicles and various types of equipment of all kinds and models, including stationary cranes, road construction equipment, trucks, refrigerators, buses, golf carts, and other motor vehicles.

The Al-Khobar Enforcement Court had assigned a consortium led by Itqan Real Estate Company the tasks of tracking, inventorying, guarding, and selling the assets of Ma’an bin Abdulwahid Al-Sanea and Saad Trading, Investment, and Financial Services Company. The consortium includes a select group of law firms and certified public accounting firms among its members.

The consortium plans to liquidate assets owned by Al-Sanea and the company in an effort to settle creditors’ claims, beginning with the sale of the company’s assets in the Kingdom. According to sources and the official list submitted to the authorities, the Saad Group owns real estate valued at 3.5 billion riyals, while Al-Sanaa personally owns real estate valued at 6.8 billion riyals, according to estimates. Most of these properties are located in Riyadh, Dammam, and Al-Khobar.