Many Saudi real estate investors are presently bidding to purchase a 300,000-square meter lot in Riyadh following a tender by the National Guard Authority, according to KSA Today internet site.
In response to requests of the Saudi Crown Prince, Emir Abdullah Bin Abdul-Aziz, the National Guard Authority recently adopted a new policy where unused land is sold to the private sector. One real estate investor who participated in the tender offered up to SR 120 million for the lot due to unique location in Riyadh city. —(MENA Report)
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