Riyadh – Mubasher: The Liquidation Board of the Legacy of Sheikh Saleh Al Rajhi and Etqaan Real Estate Company announced the conclusion of the 13th auction to sell assets owned by late Sheikh Saleh Al Rajhi, marking Riyadh’s largest real estate auction for this year.
Three real estate properties have been sold for SAR 1.026 billion, according to a statement on Sunday.
Earlier this month, Etqaan, the company responsible for the marketing and organisation of real estate auctions, said three Riyadh-based properties spanning a total area of more than 947,000 square metres will be up for auction in October.
The value of the 12th auction held to sell some land plots owned by Sheikh Saleh took place last February at an approximate value of SAR 500 million.
The preceding auction took place on 18 June 2019 at a total value of SAR 976.5 million, including the value-add tax (VAT).
The Saudi businessman, who is the founder and owner of the second-largest individual stake in Al Rajhi Bank, passed away in 2011.
