“Al-Rashid”: Leveraging Technology and the Platform’s Strength Facilitated the Sale of All Products in a Competitive Environment

Amid a competitive environment on the largest online real estate auction platform, Al-Dal Real Estate Services successfully organized its second in-person and online auction of distinctive residential and commercial properties with a total area of approximately 30,000 square meters.

Specifically, the event took place last Thursday evening at the Rafal Tower in Riyadh, where attendees in the hall competed via iPads and tablet screens for the real estate properties alongside all bidders who met the eligibility requirements to participate through the online platform from various regions of the Kingdom, with outstanding participation, excellent organization, and absolute transparency.

On this occasion, Mr. Abdulaziz bin Fahd Al-Rashid, Chairman of the Board of Directors of Al-Dal Real Estate Services Company, explained that the company successfully organized its second in-person and online auction via its platform today. The properties sold ranged from residential and commercial to land plots, including six plots in the Al-Narges neighborhood in northern Riyadh, with a total area exceeding 6,000 square meters.

Al-Rashid noted that today’s success is an inevitable result of the unique characteristics of real estate in the heart of the capital, Riyadh, in addition to the diversity of their sizes and uses and their location in northern and eastern Riyadh—which attracts investors and prospective residents—as well as their readiness and the absence of any obstacles to transportation or the start of investment.

Mr. Abdulaziz Al-Rashid, Chairman of the Board of Directors of Al-Dal Real Estate Services Company, thanked all those involved in organizing and supervising the auction. He also congratulated those who were fortunate enough to acquire the real estate properties, asking God to grant them success and guidance.

It is worth noting that the auction was held following the approval by the Enforcement and Liquidation Center ("Infaذ") of the Al-Dal Auction Platform as the third platform authorized by the Center to conduct electronic real estate auctions, thereby enabling service providers—specifically sales agents registered with the Center—to begin contracting with the platform (aldal.sa) to conduct auctions, just like the other approved platforms that are subject to the Center’s operational requirements and rules.