Taiba Holding announces that the Arab Company for Tourist Zones (Arak), a subsidiary of Taiba, has filed an appeal against the compensation of the City Hotel Aramas

Further to the above announcement on 21/02 / 1433H corresponding to 15/01/2012 including the decision of the Arab Company for Tourist Areas (Arak), one of the subsidiaries of Taiba Holding, which owns 86.81% of its capital, object to the value of the compensation of expropriation of the two pieces of land (2091) , 2092) on which the city of Aramas was built in order to expand the western arena of the Prophet’s Mosque, Arak commissioned its lawyers to do so. On 19/02/1433 H corresponding to 11/02/2012, a lawsuit was filed with the Administrative Court of Madinah in this regard, The date of the hearing was set on 25/04/1433 H corresponding to 18/03/2012 It will be announced in the future for any provisions issued on the merits of the case in question. We also refer to the above announced on 21/02 / 1433H corresponding to 15/01/2012 on the claim of Taiba Holding Company filed with the Administrative Court of Madinah regarding the objection to the estimated amount of compensation for plot No. 5061 owned by Taiba Holding located in the region The lawyer of the company attended the session held on Sunday 21/2/1433 H corresponding to 15/1/2012, and a date was set for the next meeting on Sunday, 25/04 / 1433H to complete the consideration of the case, and will be announced in the future.