Real Estate Companies Survey on Al-Ghadir Land

The Amlak newspaper conducted a survey in Riyadh to gauge interest in Al-Ghadir Land prior to the auction organized by Itqan Real Estate in collaboration with The Estate of Sheikh Saleh Abdulaziz Al-Rajhi—may God have mercy on him— the results of the survey, in which 257 real estate professionals participated, showed that Mohammed Abdulaziz Al-Babtain, of Al-Babtain Real Estate; Khalid bin Shaker Al-Mubayyad of Mansat Real Estate Appraisal; Ahmed Abdulrahman Al-Rasini of Al-Rasini Real Estate Group; and Mansour Al-Qahtani of Sumo Al-Thiqah Real Estate Office.

The winners" estimates fluctuated within a range of ±10% of the sale price, confirming their professionalism in determining the fair market value of the property, while a large number of respondents were off the mark, with their appraisals straying far from reality; this reveals the weakness of their assessments and their lack of full familiarity with the land’s specifications and investment options.

Honoring the Winners… and Commending the Courage of Valuation

During the ceremony, the real estate newspaper Amlak, represented by its editor-in-chief, Mr. Abdulaziz Al-Issa, presented trophies to the winners. In his speech, Al-Issa expressed his deep gratitude to the large turnout from the real estate sector for honoring »Amlak Councils,« He also thanked all the newspaper’s clients who participated in the survey, expressing his delight at the results, which reinforced confidence in the real estate professionals» assessments—whose projections were close to the price ultimately set at the auction. Al-Issa noted the courage of many of those surveyed for not waiting to see their colleagues" pricing trends or relying on others" assessments; which underscores their expertise and experience in the field, compelling the newspaper to fulfill its duty to honor and celebrate them.

The Amlak newspaper had conducted another survey, in which 55% of those interested in real estate attributed the failure of auctions overseen by the Enforcement Court to poor appraisals.