286 residential lots with full amenities in the "Jawharat Al-Hazm" development to be offered at a real estate auction
Real Estate Auction – Al-Haraj Al-Jadid Real Estate Company, a subsidiary of the Etqan Real Estate Group, announced the launch of its first real estate auction with the offering of the (Jawharat Al-Hazm) for sale at a public auction in the capital, Riyadh. The project has a total area of (316,541) square meters and comprises (21) blocks and (286) residential units, This represents a unique opportunity for investors and citizens.
The "Jawharat Al-Hazm" project is distinguished by its comprehensive range of essential services, its location in a densely populated area, and its proximity to the Al-Shifa, Al-Suwaidi, and Namar neighborhoods, It is also easily accessible via a network of major roads, most notably the Dirab Road (an extension of King Fahd Road) and the Western Ring Road.
The project’s appeal is further enhanced by the view from part of it overlooking the Wadi Namar Dam Park, and its proximity to government and service facilities such as Al-Salam Mall, the Air Defense Command, and a number of major hospitals in Riyadh.
Auction Participation Requirements
Al-Haraj Real Estate Company has clarified that the requirements for participating in the auction are as follows: The buyer or their legal representative must be present and submit a certified bank check for 100,000 riyals to bid on the lots, as well as a check for 50,000 riyals for each lot.
It added that the bank check submitted for bidding is considered part of the property’s value for the successful bidder, and the successful bidder is not entitled to a refund, as the buyer is required to pay within 30 business days, She noted that the winning bidder must issue a check for 2.51% of the property’s price, while the bid check will be returned immediately if the auction is unsuccessful, in addition to the buyer’s payment of real estate transaction fees.
“The New Real Estate Auction” announced that the property will be offered at a real estate auction in the Al-Shumou’ Hall on the Southern Ring Road at exactly 4:00 p.m. on Monday, 29/4/1442 AH, corresponding to December 14, 2020 AD, and invited investors seeking further clarification to visit the website.
