Itqan Real Estate concluded its operations in 2022 by completing a series of projects and achievements and launching new investment opportunities, the most significant of which was the inauguration of its headquarters Al-Dal Real Estate Services, a company specializing in the provision of reliable and secure digital solutions for the real estate market, through a partnership between Alam, a leader in providing digital solutions, and Itqan Real Estate, a leader in real estate marketing. The Al-Dal Auction Platform has received accreditation from the Support and Liquidation Center ”Enfaaz” as the third platform in the Kingdom authorized to conduct real estate e-auctions under the Center’s supervision, thereby enabling service providers—including sales agents registered with the Center—to begin contracting with the platform (aldal.sa) to hold auctions.
Distinctive Marketing for Major Real Estate Projects
According to a special report on the company’s operations, Itqan Real Estate has successfully organized and marketed a series of auctions for major real estate projects, such as the “Jawhara Abhar” project—one of the largest auctions ever held in Jeddah—and the “Darb Al-Haramain” project, which spans over one million square meters, as well as the “Taiba Warehouses,” ”Jawahir Al-Madinah,” “Arwad Al-Bahr,” ”Afanin Taiba,” ”Ard Jaroul,” and “Jawani” auctions.
Innovation in Organizing Online Auctions
The company has also successfully marketed and organized a series of online auctions, such as the “Clouds of the South,” ”Fruits of Najd,” ”Pearls of the Eastern Province,” and ”Corners of Mecca” auctions, The company has built on its successes this year to become one of the most successful real estate marketing firms in the local market and is leveraging this success to expand the range of services it offers in the real estate investment sector, including real estate development, property management, and real estate asset management and development.
Targeting Large-Scale, High-Quality Projects
In its year-end business report, the company explained that it has adopted a marketing policy based on targeting large-scale real estate projects, or “Mega Projects,” and emphasized that its motivation for targeting this type of project is the rapid growth in the real estate sector that the Kingdom has witnessed over the past five years, supported by the pace of government reforms aimed at achieving the ambitious Vision 2030, led by His Royal Highness the Crown Prince—may God protect him—which has spurred the launch of real estate projects such as the Al-Rushon project, and other projects that have made the real estate market a driving force for the economy at an accelerated pace.
Expanding its Reach to All Cities in the Kingdom
In an effort to keep pace with these successes, the company aimed to expand its office network over the past year to broaden its reach in the promising Saudi market, with offices now covering most regions of the Kingdom, It also diversified its real estate marketing efforts in a number of cities, such as Riyadh, Jeddah, Makkah, Madinah, Abha, Khamis Mushait, Jazan, Dammam, Al-Khobar, Hafar Al-Batin, Al-Hofuf, and others.
“Itqan” targets large-scale projects and rare, distinctive properties in all cities
Investment in modern communications technology
The company has been able to offer new benefits to its clients in the real estate marketing sector by investing in technology and media tools to provide live streaming of auctions through its official channels and to provide a dedicated studio with highly experienced technical crews, to promote the company’s real estate auctions, in addition to generating millions of views for its posts publicized on social media platforms regarding auctions sold in the Saudi market through its digital platforms and Saudi newspapers with which the company has entered into agreements to publish and cover auctions in various regions of the Kingdom, reflecting the company’s belief in the importance of media andits role in raising awareness of the Saudi economy’s standing and the real estate market’s role in creating promising investments that benefit Saudi citizens before investors.
Active Sponsorship of Real Estate Exhibitions and Forums
“Itqan Real Estate” reinforced its presence in the real estate investment sector by participating in a number of annual exhibitions, such as its gold sponsorship of the “Distinguished Urban Projects in the Era of the Custodian of the Two Holy Mosques 2022,” organized by the Ministry of Municipal, Rural Affairs, and Housing. The company successfully marketed its products and services in the real estate market by opening a booth showcasing its real estate projects and products at the ”Restatex Jeddah Real Estate Exhibition" sponsored by the Ministry of Municipal, Rural Affairs, and Housing, and by participating as a Platinum Sponsor of the exhibition. The company’s report also highlighted its gold sponsorship of the Future of Real Estate Forum, which was attended by a wide range of stakeholders from the public and private sectors involved in real estate investment.
Itqan Real Estate Company Agreements
The company participates in such exhibitions because it believes in the importance of these events in highlighting the significant boom the Kingdom is experiencing in the real estate and housing sectors. Over the past year, ”Itqan Real Estate" has also signed a series of agreements and memorandums of understanding with investment and government sectors to strengthen its presence, The company signed a memorandum of understanding with Dar Al-Khaleej for Economic Research and Consulting to prepare the company for an initial public offering and its conversion into a closed joint-stock company, in a developmental step aligned with Saudi Arabia’s Vision 2030, which aims to improve services for citizens and investors in the real estate market.
The company also entered into a cooperation agreement with Al-Bilad Bank as one of its partners for success in the real estate development sector, with the aim of supporting real estate financing, the company’s initiatives, and its current and future ideas and plans for the real estate marketing sector, as well as supporting the real estate investments the company offers in various regions and provinces of the Kingdom.
A New Range of Services in 2023
Toward the end of 2022, the company unveiled a range of real estate services and products it will focus on in the new year, including the Al-Dal platform for direct sales, property management, and real estate development, as well as a suite of unique real estate products that the company is preparing to introduce to the market either through direct sales or auctions it organizes, hoping to offer the latest innovations to its valued customers and always striving to earn their satisfaction as part of its mission.
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Major Real Estate Projects Completed
Jawhara Abhar
Dar Al-Haramain
Taiba Warehouses
Jawahir Al-Madinah
Arwad Al-Bahr
Afanin Taiba
Ard Jaroul
Jawani Auction.
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Examples of Online Auctions:
Clouds of the South
Fruits of Najd
Pearls of the Eastern Province
Corners of Mecca
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Cities Where ”Itqan” Auctions Were Held
Riyadh
Jeddah
Mecca
Medina
Abha
Khamis Mushait
Jazan
Dammam
Al-Khobar
Hafr Al-Batin
Al-Hofuf
