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Exclusive: Saudi Arabia to auction detained tycoon's real estate assets - sources

Reuters  |  RIYADH 

By Marwa Rashad and Stephen KalinRIYADH (Reuters) - Saudi Arabia will auction real estate owned by indebted billionaire Maan al-Sanea and his company starting next month to help repay billions of riyals due to creditors, sources familiar with the matter told Reuters.Sanea, ranked by Forbes in 2007 as one of the world's 100 richest people, was detained last year for unpaid debts dating back to 2009 when his company, Saad Group, defaulted.His case is separate from the scores of Saudi businessmen and prominent figures who were held on corruption charges last year at Riyadh's Ritz Carlton hotel, ...

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First Published: Sun, September 16 2018. 14:43 IST
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