The auction has started just minutes ago on “Durrat Al Nakhel” scheme in Seef Celebration Hall, Khobar.
The auction is witnessing a large attendance from Saudi investors, which leaves a good indication about the current real estate market status and investors’ sentiment in the Kingdom.
The auction starting price is SAR 1200 per sqm, while plots’ selling prices started from SAR 1320 per sqm.
Located in the heart of Khobar City, the scheme offers a lucrative set of industrial and residential real estate investment opportunities. The project includes a number of facilities like health, educational centers, parks, and many other.
Durrat Al Nakhil scheme is owned by six real estate companies which are: Al Abdulrahman Company, Al Qassim Company, Al Fozan Holding, Abdul-Qadir Al Muhaydeb & Sons Company, Rashid bin Abdulrahman Al Rashid & Sons, and Al Wabel Company.
Despite that current reports and statistics are implying a slow growth in Saudi property market, today’s auction indicates that investors’ still have some appetite for good real estate products.