The State Property Authority at the Ministry of Finance has completed its preparations to offer 84 residential and commercial plots of land for sale at public auction. The plots are located in the Al-Ra’id, Al-Rahmaniyah, and Al-Mohammadiyah neighborhoods, which fall within the scope of Plans Nos. (205-209-208) as part of state-owned properties unsuitable for use by government agencies or public utilities, to be sold directly to citizens through a transparent bidding process. Preparations for this auction have been underway since the beginning of this year.
The auction, scheduled for September 8–9, will be organized in cooperation with the Secretariat of the Real Estate Contributions Committee at the Ministry of Commerce and Industry, which is responsible for marketing the plots in the Al-Nakheel neighborhood north of King Saud University, near the National Center for Measurement ”Qiyas” on King Khalid Road, as follows:
Twelve (12) plots of land will be offered in Al-Ra’id neighborhood in the afternoon of Tuesday, September 8—the first day of the auction.
23 plots of land in Al-Rahmaniyah neighborhood will be offered in the afternoon of Tuesday, September 8—the first day of the auction.
49 plots of land in the Al-Mohammadiya neighborhood will be offered on the afternoon of Wednesday, September 8—the second day of the auction.
To register and participate in the auction, a certified check in the amount of 500,000 riyals made out to the State Property Authority. These checks will be accepted starting three days before the auction at the auction site (from 4:00 PM to 9:00 PM) or at the main branch of Al-Bilad Bank at the intersection of Salah al-Din al-Ayyubi Road and Jarir Street. The amount submitted will be considered a non-refundable deposit after the auction is concluded. If the bid is successful, the buyer must issue a check for the full remaining value of the land, as well as a check for 2.51% of the total value as a brokerage fee. It is a condition of bidding that the prospective buyer or their legal representative be present in person; the right of preemption is forfeited for those who do not attend the auction. Please note that the sale will be conducted in accordance with the approved plans.
