Arabi Holding Group issued a statement to the Boursa Kuwait on Sunday, to comment on the withdrawal of land No. 12 located in plot No. 10 in the Western Shuaiba area, with an area of 5,000 square meters, on May 28, 2024, from a subsidiary company Arabi Enertec Company.

The company indicated that after consulting with officials of Arabi Enertech Company, it confirmed that the land was indeed withdrawn due to the existence of overdue rental dues to the Public Authority for Industry, which considering that, withdrew the land.

"Arabi Holding" continued that the company tried to pay those dues, but this was rejected, and accordingly a grievance was filed and is being followed up on continuously, and the company hopes, based on the information available to it, to return the land and cancel the decision soon.

The company added that there is no financial impact on the company as a result of not recording the land in the company's records, because the land’s license is temporary administrative and not a permanent usufruct right.