Itqan Real Estate has announced the date of the public auction for the sale of the Tiba Model Warehouses in the south of the capital Riyadh at 4:00 pm on Wednesday 2/6/1443 AH, corresponding to 5/1/2022 AD at the Rafal Tower Hotel in the north of Riyadh city, as the plan is characterized by its location and surrounded by all services, which is a great opportunity for companies, factories and investors.

The plan is characterized by its location and surrounded by all services; which constitutes a great opportunity for companies, factories and investors.

On this occasion, the Chairman of the Board of Directors of Itqan Real Estate Company, Mr. Abdulaziz bin Fahd Al-Rasheed, explained that the conditions for entering the auction are the personal presence of the buyer or his agent, and bringing a certified check in the name of Itqan Real Estate Company for the amount of 200,000 riyals on each block and 100,000 for each piece, indicating that the check is considered part of the value of the property to whoever wins the auction and has no right to refund it.

Al-Rasheed added that among the conditions of the auction is the payment of the value of the products within a maximum period of 30 working days, the value of real estate transactions and the prescribed rate (2.5%) on the buyer, and the entire bidding check will be returned if the auction is not awarded to the bidder.

Al-Rasheed pointed out that what distinguishes the model Taiba warehouses plan is its strategic location near the old Kharj road and the second ring road within surrounding areas with good movement and density of commercial activities and storage, as it is located in the Taiba neighborhood, which is one of the first areas of interest for warehouses and surrounded by a road network, which contributes to multiple entrances and easy movement.

In conclusion of his statement, the Chairman of the Board of Directors of Itqan Real Estate invited developers, investors and citizens wishing to participate in the auction of the distinctive real estate product in case of any inquiries to contact the company through the website or by contacting customer service at (920001019), (0530311111), or mobile (0508639999).

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Thebes Warehouse Auction

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Gross Area: 1,000,000 meters2.

Total area.

Net area: 600,000 meters2.

Net area.

Number of lots: 107 lots.

Number of lots.

Auction venue: Rafal Tower Hotel in Riyadh