Saudi National Agricultural Development Company (NADEC) has announced the release of a deed of ownership of the land in Hail with an area of 193.08 million square meters, following a decision of ownership of the company, “NADEC” issued by the Ministry of the Environment, Water and Agriculture.
The company said this was based on the approval of the High Commissioner No. 58378 on Shawwal 28/1441 AH, which approved the ownership of the Nadec Company of the livable areas of the land ceded.
The company “Nadec” announced in September the issuance of a deed of ownership of the land of Wadi Al-Dawasir, while in November it announced the issuance of the deed of ownership of the land of Al-Jawf.
Interestingly, NADEC’s profits increased 137.3% in the first quarter of 2022 to 15.1 million riyals, compared to 6.4 million riyals in the first quarter of 2021.
And “NAdec” had suffered losses in the previous quarter.
The value of the operating profits achieved by the company in the first quarter was equal to 25.5 million riyals, compared to 15.4 million riyals in the corresponding period of 2021, with a growth of 65.9%.
Nadec attributed the earnings growth in the first quarter in compared to the same quarter last year to the increase in the company’s revenues in the quarter in course of 13.22% compared to the same quarter last year following an increase in sales of the dairy sector of 12.57% and the agricultural sector of 32.72%.
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