According to Al-Sharq Al-Awast newspaper (June 21, 2005), the Saudi Alsewadani Real Estate Company announced that it will auction 354 lots of land tomorrow valued SR 270 million ($72 million). Alsewadani estimated the total area of these lots, called Briman plan in Jeddah, at 440,000 square meters.
The Chairman of the Board of Alsewadani Company, Mr. Abdullah Alsewadani, estimated the area of the lots allocated for commercial purposes at 660-3,100 square meters per lot area of the lots allocated for housing purposes at 585-1,500 square meters per lot. He also estimated at SR 1,200 ($320) the per square meter price of the commercial lot and at SR 800 ($213) the per meter price of the residential lot.
