Itqan Real Estate Company, the authorized marketer of the liquidator of the estate, Lawyer Abdulrahim bin Hassan Al-Zamili, has announced the date of offering the «Bilal Central Market» for sale by public auction, for the entire market, which is located on a total area of (12,760) square meters in the central area and 500 meters away from the Prophet's Mosque, and contains 280 shops of various activities, characterized by easy access from multiple roads and represents a unique historical location in Medina.
The Chairman of the Board of Directors of Itqan Real Estate Company, Abdulaziz bin Fahd Al-Rasheed, explained that the company has completed all preparations for the auction of «Bilal Central Market» on 12/9/1442 AH, corresponding to 24/4/2021 AD, in the hall of the Osprey Hotel in the city, which will be in accordance with health protocols to prevent the spread of Corona virus, indicating that bidders can participate through digital platforms «remotely» according to the terms of the auction.
The company has completed all preparations for the auction of the «Bilal Central Market». «Al-Rasheed» pointed out that Bilal Market is a major investment opportunity, a historical landmark and a shopping center near the Prophet's Mosque visited by millions of visitors from pilgrims, Umrah pilgrims and others to buy their supplies from it, and the shops are diverse and integrated for everything that shoppers need.
Al-Rasheed pointed out that the market is characterized by its pivotal location, which allows the construction of fourteen floors and can be developed due to its proximity to historical sites, its legal status free of obstacles, and its connection to the historic market, which makes it eligible for huge urban projects with unique cultural and economic value.
Rasheed pointed out that the market is characterized by its pivotal location, which allows for the construction of fourteen floors and can be developed due to its proximity to historical sites. Al-Rasheed explained that the market has many investment opportunities for its land, including a project to establish a tower overlooking the Prophet's Mosque that contains a market with four floors and six towers of hotel rooms and suites, each tower contains a large group of rooms and suites on the entire land area while maintaining the mosque, where the expected annual income of this project is estimated at more than 80 million riyals annually.
Rasheed explained that the market has many investment opportunities for its land, including a project to establish a tower overlooking the Prophet's Mosque.
