The executive committee for the development of the central region of Medina announced that it will hold its 17th auction, which supposed to be held on February 28, reported the Saudi newspaper Al-Watan. The auction is considered one of the most important deals regarding the lands around the Prophet Mosque.
The committee, responsible for developing the neighborhoods adjacent to the Prophet Mosque, will offer 7 out of 8 land plots which were announced in the cancelled auction, and two additional plots, (no. 3107 and no. 3109), located in the western southern region. Among the offered plots is number 109, the only land plot within the real estates of the northern region. The investors are expected to compete upon the large western plot no. 2079; its price is expected to surpass 23.5 million Saudi Riyals (approximately $6.1 million).