The real estate auctions, which took place during the past two weeks, achieved many gains for the real estate sector and waved positive signs confirming the awakening of the real estate market from its stagnation and the beginning of a recovery to compensate for the recent period. These auctions caused a great movement in the real estate market in general, whether in terms of reasonable and acceptable prices, or in terms of the great turnout of businessmen and investors... The most prominent of these auctions are the auctions of the estate of Al-Rajhi, Saraya Al-Riyadh and Hattin Hills.

Hattin Hills.

For example, the Al-Rajhi estate auctions injected some of its properties that were offered in the three auctions with nearly two billion riyals, which supports what we said in the title of the previous article (Will the market swallow the upcoming auctions?). The auctions of Al-Rajhi Estate, Saraya Al-Riyadh and Hattin Hills represented a successful and distinctive model for auctions in terms of success and turnout that surprised real estate market pioneers, through several steps, most notably: The organization and marketing of the auction, and the auction starts from the evaluation price and encourages buyers and shareholders alike, from here the state of the real estate market can be clearly assessed due to the balance of demand and the definite desire to buy with serious supply in selling, and all this coincides with the thirst of interested people and investors to buy, with full flexibility in payment and emptying.

The auction of the Quds, east of Riyadh, for example, in which 1500 bidders increased, revealed the wildness of the real estate market and its violence due to the completeness of the neighborhood and its presence among integrated neighborhoods, although some auctions have special desires.However, one of the positives of the auction movement is the entry of citizens to buy directly the offered residential plots, after their fears were dispelled by some communication sites that announced without a clear vision the collapse of the real estate market throne, so the righteous son returned to bring good news to a sector that includes more than 200 activities.

With the increase in supply in the real estate market, especially in residential schemes, it is expected that the supply will increase with lower prices in line with the purchasing power of some segments of society. After the auctions that took place, it became clear that the price drop was reasonable and was accepted by buyers and investors. This will be a motivation and incentive for landowners, properties and plans to start assessing the new situation and boldly push what they have to the market.

Amlak wrote the events of these auctions and covered them with a distinctive professionalism that was highly praised among businessmen and auction owners themselves ... In conclusion, we say that the great demand for auctions is the biggest proof that the real estate market is still thirsty for more of them, because they created a movement that greatly revitalized the real estate market and made real estate professionals feel optimistic that the next is better in the future.