Construction Industries Faces โค376.1 Million โคRiyal Lawsuit Over โJeddah Four Seasons project
JEDDAH โ-โข Construction Industries announced today โคit is facing a lawsuit filed against โฃitsโข subsidiary, Zamil โAir Conditioning and Refrigerationโค Services Company, seeking 376.1 โmillion Saudi โRiyals in compensation. The claim, filed with the commercialโ court, โขallegesโ a breach of contract related to construction โคservices – specifically manufacturing, โsupplying, and โinstalling components – โfor the Four Seasons Hotel project on Jeddah’s โฃCorniche.
Theโ lawsuit centers on work โฃcompletedโ as a main contractor. While the financial โขimpact remains uncertain, Construction Industries maintains โconfidence in โขits subsidiary’s โlegal position,โฃ citing advice confirmingโ the strengthโค of its case under Saudi commercial and civil law. โคThe โฃcompany has retained external legal counsel to defend against the claim and will provide updates as the case progresses.
Construction Industries stated it is โขcurrently unable to determine the โpotential โขfinancial or legal consequences stemming from the lawsuit.However, based on internal โคdocumentation, the company believes Zamil Air Conditioning and Refrigerationโข services Company โฃhasโข a strong defense. Zamil โฃAir Conditioning and refrigeration Services Companyโข is aโค subsidiary of Zamil Air Conditioning Holding Company.