Amid a large attendance of real estate professionals, investors and interested parties, the prices of the Hattin scheme auction organized by the Real Estate Contributions Committee at the Ministry of Commerce varied yesterday, as the price per meter in some plots exceeded the barrier of 3,000 riyals, refuting all speculations and expectations launched by real estate professionals that real estate prices would fall.
The auction opened with the sale of the first piece at a price of 2,000 riyals per meter, as prices escalated, due to the desire of investors to buy fully serviced lands. Through the auction, multiple deals were made in which the average price per meter was about 2500 riyals, and a residential commercial block with an area of 8000 was sold at 3300 riyals per meter, and the most expensive residential plot was sold at 2920 riyals per meter.
It is worth mentioning that the Real Estate Contributions Committee at the Ministry of Commerce and Industry announced yesterday that it sold 163 plots of land in the Hattin scheme in Riyadh for more than 417 million riyals.
Yesterday, the Real Estate Contributions Committee offered (163) plots of land in the Hattin Plan contribution for sale by auction, located northwest of the city of Riyadh, on the site of the Hattin Model Plan along King Khalid Road (Sulbukh), north of the northern ring road, and south of Anas bin Malik Road.
The sizes of the plots vary to meet the desires of the real estate market segments, especially those wishing to build private housing, with areas ranging from 625 m2 to 2174 m2.
The plots offered in the auction are characterized by their very suitable nature and their centrality to the residential neighborhood of the plan, which is almost fully serviced, and in a residential area that is considered one of the most distinguished neighborhoods of the capital, Riyadh.
