Itqan Real Estate announced the date for the public auction to sell the Taybah Model Warehouse Complex in southern Riyadh, scheduled for 4:00 p.m. on Wednesday, 2/6/1443 AH, corresponding to January 5, 2022, at the Rafal Tower Hotel in northern Riyadh, to sell the entire project, which has a total area of 1,000,000 square meters and a net area of approximately 600,000 square meters. comprising 107 plots of warehouse and commercial land. The development is distinguished by its location and is surrounded by a full range of services, presenting a significant opportunity for companies, factories, and investors.
On this occasion, Mr. Abdulaziz bin Fahd Al-Rashid, Chairman of the Board of Directors of Itqan Real Estate Company, explained that the conditions for participating in the auction require the personal attendance of the buyer or their agent, and that they must present a certified check made out to Itqan Real Estate Company in the amount of 200,000 riyals per block and 100,000 riyals per plot. He noted that the check is considered part of the property’s value for the successful bidder and is non-refundable.
Al-Rashid added that among the auction conditions is payment for the property within a maximum of 30 business days, with the buyer responsible for real estate transaction fees and the brokerage fee set at (2.5%). Furthermore, the full bid check will be returned if the bidder does not win the auction.
Al-Rashid noted that one of the distinguishing features of the Taiba Model Warehouse Complex is its strategic location near the Old Al-Kharj Road and the Second Ring Road, within surrounding areas characterized by high traffic volume and a concentration of commercial and warehousing activities, as it is located in the Taybah neighborhood, one of the first areas of interest for warehouses, surrounded by a road network that provides multiple access points and ease of movement.
The Chairman of the Board of Directors of Itqan Real Estate stated that the Taybah Model Warehouse Complex represents an investment opportunity due to its location in the capital, Riyadh, the political and economic decision-making center of the Kingdom, noting that the significant growth in economic and investment expansion, which parallels the major successes achieved by the Kingdom’s Vision 2030 launched by His Royal Highness the Crown Prince, which has made the Kingdom a focal point for global investors and created a major opportunity for numerous foreign companies to enter the market and relocate their headquarters to the Kingdom.
At the conclusion of his statement, the Chairman of the Board of Directors of Itqan Real Estate Company invited developers, investors, and citizens wishing to participate in the public auction for this distinctive real estate project to contact the company via its website or by calling customer service at (920001019), (0530311111), or mobile (0508639999).
