With a total value exceeding 28 million riyals, the Real Estate Contribution Committee at the Ministry of Commerce and Investment approved the sale of a contribution plot north of Jeddah at a price of 113 riyals per square meter, This decision was made during a meeting chaired by the Minister of Commerce and Investment, Dr. Majid Al-Qasabi.

The committee had suspended an auction it had held for the land in the first month of 2017 due to the unfairness of the price at that time, as bidders did not exceed 72 riyals per square meter, prompting the committee to cancel the auction at the time and offer the 248,271-square-meter plot for direct sale, resulting in a sale price increase of over 631% to maximize returns for shareholders.

The committee also issued a decision to sell the remaining plots from the Al-Shahabiya development, owned by Al-Shahab Real Estate Office & Partners and located in Al-Hofuf, in a densely populated area well-served by basic amenities such as schools, mosques, health and government services, and markets. The number of plots is estimated at 264, characterized by their diversity between commercial and residential-commercial uses.