The State Properties General Authority Holds an Auction for Selling (84) Residential and Commercial Plots of Land in the Northern Neighborhoods of Riyadh
The State Properties General Authority of the Ministry of Finance offers, at auction, (84) separate residential and commercial plots of land in Al Raed, Al Rahmaniyah, and Al-Muhammadiyya neighborhoods located within the urban plans No. (205-209-208) within state properties that are not suitable for government entities use or public utilities use. These Plots of Land to be directly sold to Saudi nationals through auction in a transparent manner., where the auction has been prepared and arranged since the beginning of this year.
The State Properties General Authority indicated today that the auction will be organized in cooperation with the Secretariat of the Estate Contributions Commission of the Ministry of Commerce and Industry - the auction marketer. Indicating that it was decided to hold the auction in the afternoon of Tuesday and Wednesday, 24-25 of this month, 8-9 September next, in Al Nakhil Neighborhood, north of King Saud University, near the National Center for Assessment "Qiyas" on King Khalid Road. Provided that (35) plots of land will be put up in Al Raed Neighborhood and Al Rahmaniyah Neighborhood on the first day of the auction, and (49) plots of land in Al Muhammadiyah Neighborhood will be put up on the second day of the auction.
To register and participate in the auction, it is required to provide a (certified cheque) for an amount of SAR 500,000 payable to the State Properties General Authority, as it will begin to be received three days before the auction date at the auction site from (4-9 PM) or at the main branch of Bank Al Bilad at the intersection of Salah Ad Din Al Ayyubi Road with Jarir Street. The amount provided will be considered a non-refundable deposit after the auction is awarded. If the auction is awarded, the purchaser will issue a cheque for the remaining amount of the land value and a cheque for 2.5% of the total value representing the commission value.
The auction requires the attendance of the person wishing to purchase or his\her legal representative. The right of preemption is forfeited for those who do not attend the auction. Kindly note that the sale will take place according to the approved plans.
Auction information link