MCI Real Estate Shareholding Commission has finished the fourth public auction this year for the sale of three undeveloped lands, belonging to the shareholdings of (Fajr Abha and Dourrat Abha), at the Hall of Abha Palace Hotel, in Abha, with a total value exceeding SR 34 million riyals, in preparation for the liquidation of those shareholdings and giving back the due amounts of the shareholders.
The auction has started amid a good presence of the investors and those interested in buying. The auction for Fajr Abha land started with SR 420 per square meter and ended at SR 820 per square meter, so it was awarded with a total value of more than SR 18 million riyals.
The Real Estate Commission offered in the same auction two lands, 100 thousand sq. m. each, belonging to the shareholding of Dourrat Abha with a total area (199.683) square meters, the two lands are registered in one legal instrument, the auction was awarded to one of the investors for SR 80 per square meter, this price was accepted by the said Commission, so the total value was more than 15 million riyals.
It is worth mentioning that the Real Estate Shareholding Commission will continue(by the help of Allah) its work and efforts in collaboration with all concerned authorities to implement the Cabinet Resolution, stipulating that the said Commission should take over the tasks of ending the stumbled Real Estate shareholdings , so it will hold early next week an auction for the sale of the shareholding land of Um Al Ma`an in Taif and Shaza Al Qunfudah in Al Quoz, which will be held on Sunday afternoon 19/11/1435 AH at the Intercontinental Hotel in Taif, as a preparation for giving back the due amounts of the shareholders.