The Ministry of Commerce and Industry, represented by the Real Estate Contributions Committee, recently held a public auction to sell 106 residential and commercial plots in the “Shalala” scheme in Riyadh, a contribution that has been stalled for about 40 years, and the auction sales, which was held last Thursday afternoon at Al Khozama Hall in Riyadh, amounted to more than 74.3 million riyals.
The auction witnessed the presence of a number of investors and those wishing to own the pieces offered for sale, whether residential or commercial, and the average square meter values for residential pieces and blocks reached 1256 riyals, while the price per square meter for commercial pieces on the city road reached 2400 riyals.
The auction of the “Shalala” plan is the third auction held by the committee in one month after it succeeded in finalizing the auctions of the “Al-Rafiah facilities” in Dammam and the two farms of the “Kingdom Dates” contribution in Al-Bada'i, while it is currently working to finalize the marketing procedures to establish the sale of some of the contribution lands that the committee decided to sell either by public auctions or direct sale method.
On a related note, the committee announced the continuation of receiving direct purchase offers for a number of recently announced contribution lands, namely Shaza Al-Qunfudhah contribution land, Dora Abha contribution land, and Future Plan contribution land in Al-Kharj, and required the submission of a letter of desire for direct purchase including the total value and price per square meter of the area offered for sale with a check for 5% of the offer value.
On the other hand, the Real Estate Contributions Committee recently held a public auction to sell the ”Kingdom Dates” and “Salahia” farms belonging to the contribution of Salah Al Nafisi, within the framework of completing the liquidation of the contribution and paying the remaining shareholders“ rights.
The committee ended the auction by awarding the sale to the highest bidder to purchase the assets and assets of the two farms for a total of 116,700,000 riyals during the auction held by the committee in the presence of the Minister of Commerce and Industry, Chairman of the committee, Dr. Tawfiq bin Fawzan Al-Rabeeah and its members and the Honorable Judge of Execution at the General Court in Badia'a Sheikh Adib Al-Dubaikhi, where the Kingdom Dates farm and factory was sold for 100 million and 500 thousand riyals, while the farm of Salahia was sold for 16 million and 200 thousand riyals.
The auction opened with 8 million riyals amid great competition between investors and a number of endowment holders to reach a demand of 10 million riyals and then rose to 14 million riyals to intensify the competition in the bidding process that took about 40 minutes to reach the highest price of 16.200 million riyals in favor of an investor.
In the second auction for the sale of the Kingdom's date farm with the factory and branches, the bidding started with 100 million riyals to be awarded to an investor for the highest value of 100 million and 500 thousand riyals.
The auction witnessed the presence of a number of investors and those wishing to own the pieces offered for sale, whether residential or commercial, and the average square meter values for residential pieces and blocks reached 1256 riyals, while the price per square meter for commercial pieces on the city road reached 2400 riyals.
The auction of the “Shalala” plan is the third auction held by the committee in one month after it succeeded in finalizing the auctions of the “Al-Rafiah facilities” in Dammam and the two farms of the “Kingdom Dates” contribution in Al-Bada'i, while it is currently working to finalize the marketing procedures to establish the sale of some of the contribution lands that the committee decided to sell either by public auctions or direct sale method.
On a related note, the committee announced the continuation of receiving direct purchase offers for a number of recently announced contribution lands, namely Shaza Al-Qunfudhah contribution land, Dora Abha contribution land, and Future Plan contribution land in Al-Kharj, and required the submission of a letter of desire for direct purchase including the total value and price per square meter of the area offered for sale with a check for 5% of the offer value.
On the other hand, the Real Estate Contributions Committee recently held a public auction to sell the ”Kingdom Dates” and “Salahia” farms belonging to the contribution of Salah Al Nafisi, within the framework of completing the liquidation of the contribution and paying the remaining shareholders“ rights.
The committee ended the auction by awarding the sale to the highest bidder to purchase the assets and assets of the two farms for a total of 116,700,000 riyals during the auction held by the committee in the presence of the Minister of Commerce and Industry, Chairman of the committee, Dr. Tawfiq bin Fawzan Al-Rabeeah and its members and the Honorable Judge of Execution at the General Court in Badia'a Sheikh Adib Al-Dubaikhi, where the Kingdom Dates farm and factory was sold for 100 million and 500 thousand riyals, while the farm of Salahia was sold for 16 million and 200 thousand riyals.
The auction opened with 8 million riyals amid great competition between investors and a number of endowment holders to reach a demand of 10 million riyals and then rose to 14 million riyals to intensify the competition in the bidding process that took about 40 minutes to reach the highest price of 16.200 million riyals in favor of an investor.
In the second auction for the sale of the Kingdom's date farm with the factory and branches, the bidding started with 100 million riyals to be awarded to an investor for the highest value of 100 million and 500 thousand riyals.
