In a new Saudi neighborhood outside of Mecca's Al-Nakkasa area west of Bathaa Quraish land zone, an increasing number of fraudulent land deals have resulted in the loss of thousands for some buyers. In a rush by foreigners to purchase land in the area, property values have jumped fivefold, according to local sources quoted in Arab News.
However, large numbers of transactions which have recently been made, are apparently for land which is not in fact owned by the supposed property dealers. A recent plot of land in the neighborhood was sold for SR1,000, though prices have since skyrocketed, according to locals.
