Saudi Arabia: Successful real estate auction
Saudi Al-Hurra Real Estate Development Company, the owner and developer of Al-Fursan district in Sakaka, announced the sale of the whole project by 25% profits during the second day of the auction, which was held on the project's land last weekend, reported Al-Sharq al-Awsat newspaper on September 26.
It was expected that the response for this auction might be low due to the fact that many of the investors in the region have invested in Al-Jawf Cement Company. Despite that, many investors attended the auction, which included 230 land plots divided into 14 blocs, while commercial percentages in the program were more than 30%.
The marketing manager of the company, Naser Al-Muqbil, attributed the sales success to the advantages offered by the project.