Itqan Real Estate and Itqan I announced the success of Auction of Arwad Al Bahr in Jeddah for the liquidator of Masdar Real Estate Company and Jaroul land in Makkah for the liquidator of the liquidation board of the estate of Sheikh Saleh bin Abdulaziz Al Rajhi - God rest his soul - with sales totaling 221,996,390 riyals.996,390 riyals, during the public auction, which was held on Sunday afternoon at Lailati Hall in Jeddah and was broadcast through Itqan's platforms and social media accounts, amid heavy attendance and competition among investors who flocked from different regions of the Kingdom.
The auction was held on Sunday afternoon at Lailati Hall in Jeddah.
The sixteenth auction of the estate of Sheikh Saleh bin Abdulaziz Al-Rajhi, may God have mercy on him, was launched on the land of Jaroul, located a kilometer away from the Grand Mosque in the Al-Otaibiya neighborhood in Makkah, on an area of 4,334.04 square meters, which was sold for an amount exceeding 77 million riyals, which received unparalleled competition among investors due to its importance and the scarcity of land offered near the Holy Mosque.
While the auction of the new waterfront land in Al-Nashati 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 square meters.99 square meters, and the third product came in the Arwad Al Bahr auction for an apartment in the Farsi Seven Tower complex in the Farsi Seven Towers complex in the southern Abhar district in North Jeddah on the beach road, which is estimated at 374.16 square meters and has a view of the Abhar Sharm with stunning sea views and in a strategic location with its services and geographical location in the bride of the Red Sea and was sold for 4 million riyals.
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The auction concluded with the sale of a five-story, thirteen-unit residential building located north of Jeddah and near a number of famous and densely populated neighborhoods and provides educational, cultural and recreational services and facilities and tourist attractions for a total value of more than two million riyals, including tax and pursuit, which was the share of a businesswoman.
The auction concluded with the sale of the Mushrifa neighborhood building with five floors and thirteen residential units.
For his part, Mr. Abdulaziz bin Fahd Al-Rasheed, Chairman of the Board of Directors of Itqan Real Estate Company, said that the success of the auction reflected the excellence of the offers and the strength of the Saudi economy and the confidence of investors in the real estate market, which is achieving increasing growth, indicating that competition among investors to obtain real estate products was intense due to their rarity, geographical location and diversity of their economic fields.
Al-Rasheed thanked all investors and Itqan's partners from liquidators and organizers for their trust and continuous support, asking God for all success and success.
In turn, the Chairman of the Board of Directors of Masdar Real Estate Company, Mr. Abdullah bin Saleh Al-Oufi, praised the success of the public auction "Arwad Al-Bahr" in Jeddah of success, excellence and prices that confirm the durability and strength of the Saudi economy, the desire of capital to invest in the bride of the Red Sea and the diversity of real estate products that are attractive to the attention of investors, thanking Itqan management for the good organization and marketing of the proactive campaigns that contributed to motivating investors whose presence was remarkable.
For their part, the bidders praised the professionalism adopted by Itqan and Masdar Properties in managing and organizing the auction, employing technology and ensuring transparency, stressing that the marketing campaign and the subsequent promotional announcements published through various advertising platforms contributed to highlighting the features of the products in all transparency.
