Following the successful auction of the Hatin and Al-Safwa projects in Riyadh, the Real Estate Contributions Committee at the Ministry of Commerce and Industry has decided to offer four plots of land in the Al-Yasmin neighborhood in northern Riyadh for direct sale and to begin accepting purchase applications, with Sunday, 29 /11/1436 AH .
In addition, the Real Estate Contributions Committee at the Ministry of Commerce and Industry has begun disbursing 67% of the amounts due to shareholders in the Hatin Project in Riyadh, representing the full capital and a portion of the profits, with the remainder of the profits to be disbursed after the completion of all legal and accounting procedures.
The Real Estate Contributions Committee held a public auction in the middle of this year to sell 163 developed plots of land north of Riyadh, which saw significant interest from prospective buyers.with total auction sales exceeding 400 million riyals at an average price of 2,150 riyals per square meter.
The committee urged shareholders who have not yet updated their information to visit the National Arab Bank’s website as soon as possible www.anb.com.sa or the Commission’s website, fill out the contribution form, then visit any bank branch, present proof of identity and the original contribution documents, and ensure the correct IBAN number is entered so that their rights can be transferred as quickly as possible directly to theirbank accounts as quickly as possible, without needing to visit the Commission’s headquarters at the Ministry of Commerce and Industry or any of its branches.
The committee also announced the completion of the liquidation of the Al-Safwa East Riyadh development project, which generated profits estimated at more than 1.4 billion, of which the value of compensation for the expropriation of parts of the development to accommodate the realignment of Wadi Al-Sali and the Al-Maizila Bridge exceeded 990 million riyals,in addition to the public auction held to sell the remaining portions of the project, which generated total sales of more than 400 million riyals.
