for the public auction ”Arwad Al Bahr” in the city of magic and beauty, the bride of the Red Sea, Jeddah, to sell three distinct real estate products for the liquidator, Masdar Real Estate Company, on Sunday afternoon, 27 Dhu'lqa'dah 1443 AH, corresponding to June 26, 2022 AD, at Lailati Hall in Jeddah, and through the direct link to bid between the main hall and in-person participation at the company's office in Riyadh, and through electronic participation remotely through the Zoom program.
Itqan Real Estate Chairman Mr. Abdulaziz bin Fahd Al-Rasheed explained in a press statement on this occasion that the first product in the auction will be for the five-storey and thirteen residential units located in the north of Jeddah and near a number of famous and densely populated neighborhoods and provides services, educational, cultural and recreational facilities and tourist attractions and is only five kilometers from the Haramain train and Al-Hamra Corniche and fourteen kilometers from the airport.
Al-Rasheed noted that the second product of the auction is the land of the new waterfront in Al-Shati neighborhood, one of the most prominent distinctive neighborhoods, which is an important political destination in the bride of the sea, with a land area of 9,273.99 square meters, characterized by the completion of infrastructure and the organization of wide streets and provides various commercial and service opportunities in addition to being surrounded by a group of the most important tourist and entertainment attractions and its proximity to the Hilton Hotel.
Al-Rasheed pointed out that the third product is the Farsi Seven Tower apartment in the Farsi Seven Towers complex in Abhar Al-Janoubiya neighborhood in North Jeddah on the beach road and is estimated at 374.16 square meters and consists of five bedrooms, a salon, a hall and various utilities, on the sixth and twentieth floor with a view of Sharm Abhar with stunning sea views and in a strategic location with its services and geographical location in the bride of the Red Sea.
Al-Rasheed said that the conditions for bidding in the auction are the personal presence of the buyer or his legal agent, and bringing a certified check in the name of (Itqan Real Estate Company) in the amount of two hundred thousand riyals, and the check is considered part of the value of the property to the one who wins the auction and does not have the right to recover it, The buyer is obliged to pay within 10 working days, and in the event that the bidder fails to sign the sales contract, pay the rest of the price, or come to vacate within the specified period of (10) days, the auction will be re-established on the property at his own expense, and he will bear all the costs.
Al-Rasheed also stated that the buyer is obliged to pay the value of real estate transactions at 5% of the sale price, and the bidding check is returned directly in the event that the auction is not awarded to the applicant, and the successful bidder writes a quest check at 2.5 percent of the sale price plus the value added tax value of 15% in the name of the company, and the inspection of the property during the advertising period.
In turn, Mr. Abdullah bin Saleh Al-Oufi, Chairman of the Board of Directors of Masdar Real Estate Company, confirmed that the launch of the public auction "Arwad Al-Bahr" in Jeddah will be distinctive for its location in the bride of the Red Sea and the diversity of real estate products that represent a focus for the attention of investors, noting that it has been entrusted to the real estate marketing pioneer "Itqan" to enable the largest segment to compete in it with a vision based on transparency.
Itqan Real Estate invited developers, investors and citizens wishing to participate in the (Arwad Al Bahr) auction to communicate with the company through the website or by contacting customer service at (920001019), (0550053000), (0550052000) or by communicating through the company's social media channels.
Itqan Real Estate invited developers, investors and citizens wishing to participate in the auction.
