More than 250 million riyals sales of the first real estate fund for a residential scheme in Riyadh
Riyadh-Amlak
Salman Bin Abdullah Bin Saeedan Real Estate Group and The Investor Financial Company last week completed the sale of the Saeedaniyah scheme (Saeedaniyah Scheme Investor Fund) in southern Riyadh, achieving sales exceeding SAR 258 million, with an attendance of more than 3500 personalities and real estate.
The attractive and moderate prices, as well as the number of attendees reflected the level of demand, which varied between individual demand for residential plots and investment demand for balconies, and the sale prices ranged from 310 riyals to 480 riyals per meter for residential plots, and (Shawatir) was sold at 200 riyals per meter, while the sale of commercial plots ranged from 500 to 630 riyals per meter for plots located on (60 m) street.
Abdullah Al-Fouzan, Chairman of the Board of Directors of The Investor Securities Company, said: At the beginning, we thank God Almighty for the completion of the sale of (The Investor Fund Al-Saidaniya Plan) in record time despite the size of the plan and the large number of pieces, and despite the keenness of the brothers in the Salman bin Saeedan Group to sell part of the plan as pieces, which may take more time, but it is important to fulfill the demands of everyone from the audience, whether from investors in the fund or from other developers and consumers.
Al Fouzan thanked the developer of the project, Salman Bin Abdullah Bin Abdullah Bin Saeedan Real Estate Group, as well as the marketer, Aqari, for the success of the auction and achieving the most important goal of serving the investors in this fund, pointing out that the announcement of profits will be in the coming days, God willing.
For his part, Salman bin Abdullah bin Saeedan, President of Salman bin Abdullah bin Saeedan Real Estate Group, considered that the sale of the entire plan with the diversity of demand between pieces and blocks, and in a time that did not exceed 5 hours, confirms the attractiveness of land products for all, both consumers and investors. Especially when these products are in fully serviced locations, regardless of the location of the scheme, which is certainly a scene that reflects the growing demand for housing products.
Bin Saeedan concluded by saying that the group is ready to cooperate with financial institutions to develop real estate projects through diverse and innovative real estate funds, whether in Riyadh or in other cities that, like the capital, are witnessing remarkable real estate activity.
The plan, located south of Riyadh and north of the refinery (Aramco), includes 727 residential and commercial plots, while the plan is characterized by its proximity to highways and the new second ring of Riyadh, and the availability of water, electricity, lighting and paving services.
It is noteworthy that Al Saidaniya plan is located in a distinctive area due to its proximity to vital places next to Al Dar Al Baida neighborhood, Al Aziziyah neighborhood, and near the first industrial city, second industrial city, third industrial city, Saudi Aramco refinery station, and housing south of Riyadh; in addition to a number of headquarters of major industrial companies.
