With the participation of more than 2,000 investors and citizens, the alliance between Itqan Real Estate and Al-Dal Real Estate Services successfully sold half of the Jawharah Abhur project, located in North Abhur in the city of Jeddah, through a public auction as the first phase, achieving sales of nearly 860 million riyals.
To ensure the auction’s success, remote bidding technology was utilized via Zoom, with a live connection to the company’s headquarters in Riyadh and Itqan Real Estate’s social media channels, alongside a large turnout at the Jeddah Center for Forums and Events, where 215 residential units and 52 commercial units were sold from the project, which has a total area of one million square meters and is considered one of the model and distinctive projects in Jeddah, the Bride of the Red Sea and the Gateway to the Two Holy Mosques.
On this occasion, Abdulaziz bin Fahd Al-Rashid, Chairman of the Board of Directors of the alliance between Etqan and Al-Dal Real Estate Companies, explained that the prices were exceptional, ranging from 4,600 riyals per commercial square meter to 2,200 riyals per residential square meter for plots in the project, which is considered one of the most important neighborhoods in Abhur North, which is rich in services and attracts residents with its well-organized infrastructure and comprehensive amenities.
The Chairman of the Alliance of Itqan and Al-Dal Real Estate Companies congratulated those fortunate enough to purchase real estate units in the Abhar Jewel development, which is considered a unique investment and residential opportunity due to its strategic location, He also expressed his thanks and appreciation to the sons of Mohammed Al-Saad Al-Ajlan, the owner and developer of the project, for their trust and support of the Itqan and Al-Dal Real Estate Alliance in entrusting them with managing this distinguished auction, Al-Rashid also thanked the entire Itqan team for their cooperation and excellence in management and organization, as well as all the investors and citizens who attended and participated.
In turn, Sheikh Abdulaziz bin Mohammed Al-Ajlan, Chairman of the Board of Directors of Mohammed Al-Saad Al-Ajlan Sons Company, stated that the success of the first phase of the Jawahir Abhar auction reflects Saudi investors« confidence in the real estate market, which is considered the cornerstone of safe investment in Saudi Arabia, noting that the high turnout at the auction and the prices achieved in sales transactions for all plots and »blocks" in the project underscore the distinction of Jeddah, the Gateway to the Two Holy Mosques and a promising investment destination.
Abdulaziz Al-Ajlan thanked the alliance of Etqan and Al-Dal Real Estate, the exclusive marketers of the auction, for their efforts and excellence in managing and organizing the auction, utilizing technology, creating the right atmosphere, and preparing the marketing, technical, and administrative campaigns for the auction, which is considered one of the most distinguished auctions in Saudi Arabia.
