The results and sales from the first auction of Sheikh Saleh Al-Rajhi’s estate reflected the strength and capacity of the local real estate market to absorb additional capital, bolstering investor confidence in their real estate strategies, thereby restoring hope among investors and businesspeople to inject liquidity into the Kingdom’s real estate market.
In the same context, real estate expert Khalid Al-Mubayyad, General Manager of Basma Real Estate Management, stated in press remarks that the first Al-Rajhi auction achieved great success in terms of sales, confirming the strength and resilience of the Kingdom’s real estate market, and that it remains unaffected by economic and regulatory changes—especially since a portion of the auction involved the sale of undeveloped land, which underscores investors’ strong confidence in the real estate sector, and demand for the project’s land remained steady throughout the auction.
The General Manager of Basma Real Estate Management emphasized that holding the auction at this time serves as confirmation of the strength of the real estate industry in the Kingdom and meets the demand for specialized land products in the Saudi market, thereby sending a clear message that instills confidence in investors and businesspeople to inject liquidity into the Kingdom’s real estate market, noting that the Saudi real estate market needs a greater variety of real estate products. Al-Mubayyad praised the widespread participation of businesspeople and investors, which signals continued demand for various types of land in the Kingdom’s real estate market, noting that the sale of a significant portion of the project is a strong indication of the market’s strength and the confidence of both local and regional investors in injecting liquidity into the market.
