Jewels of Medina Auction for the sale of five real estate products, including three hotel projects and two distinctive lands in the Medina area, at 4:00 pm on Thursday, 9/7/1443 AH, corresponding to 10/2/2022 AD in the Taiba Hall in the Le Meridien Medina Hotel, where the real estate products are a great opportunity for investors in Taiba, a long-term investment destination globally.
The Jewels of Medina Auction
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 in the amount of (500.He pointed out that the check is considered part of the value of the property to the one who wins the auction and has no right to refund it, and the check is returned in the event that the auction is not awarded to the applicant directly, while the pursuit of (2.5 %) is on the buyer and is written by a separate check by the buyer.
On the occasion, Mr. Abdulaziz bin Fahd Al-Rasheed explained that the conditions for entering the auction are the personal presence of the buyer or his agent.
Al-Rasheed added that the bidders" attendance will be directly at the company's branches in Jeddah and Riyadh, where the company has prepared all means for remote bidders" participation through the "ZOOM" program as part of the company's keenness to enable investors to participate in the auction through technology in line with the Kingdom's vision 2030.
Rasheed added: Al-Rasheed
Al-Rasheed said that the five real estate products are: Yanbu Pearl Resort, which is located on an area estimated at more than 51,000 meters and contains 244 medium suites and 36 royal suites, restaurants, halls, health club and private chalets in the middle of Yanbu Al Bahr city and its connection to the main roads and close to the shopping center and the city center.
Al-Rasheed pointed out that the second product is Al-Bustan Tower Hotel Taiba, one of the most famous hotels in Medina, located in the central area and two minutes' walk from the Haram, consisting of a 15-story tower with 170 residential units, shops and 4 elevators, making it the ideal investment destination that does not lose those who seize it.
Rasheed pointed out that the second product is Al-Bustan Tower Hotel Taiba, one of the most famous hotels in Medina.
The third product is the Golden Arjwan Hotel, located in the central area and is a five-minute walk from the Prophet's Mosque, consisting of a 14-story tower and three facades that give it a stunning view and contains 300 residential units, 8 shops, 6 elevators and typical parking lots, and is characterized by its modern architectural style.
The fourth and fifth products are the second and third ring lands, which are characterized by their distinctive location, multiple investment channels, proximity to vital areas and logistics services, multiple uses between residential and commercial, and the possibility of establishing boulevard projects, centers and commercial towers.
"Al-Rasheed" noted that the Medina region is a strong investment destination with its strong elements, including the honor of the place and the scarcity of the supply of real estate products, especially in the central area, which is visited by millions of visitors throughout the year, stressing that the Kingdom, thanks to Vision 2030, has opened horizons for visitors, which constitutes a great support for the real estate investment sector in Mecca and Medina, the destination of religious tourism.
