MCI Real Estate Committee to Hold Public Auction to Sell Makkah Lot, of Al-Nafissi

09 Sep 2013
MCI reaffirms that it will resolutely refund rights, legally pursue those who resort to fraud
Presided over by the Minister of Commerce and Industry Dr. TAWFIG FAWZAN ALRABIAH the Real Estate Committee decided to hold a public auction to sel Makkah land lot of Salah Al-Niffaisi, on Monday 30/09/2013, at Palace Hall, in Hilton Jeddah, as this is considered to one of the most awaited auctions, due to the size of the scheme as well as the number of contributors of more than 6 thousand.
The step follows the committee's taking over the charge of liquidating Salah Al-Niffaisi schemes, in line with a Royal directive to the committee.
The site spreads over about one million sq.m, within the vicinity of Haram, 12 k.m. away from the Grand Mosque, giving to Jeddah expressway, with a 800m length, to facilitate entry and exit, with an integrated infrastructure in the surroundings of the land lot and municipal services.
An approved plan has been made for the scheme lot, for both housing and commercial use by Makkah Mayor office, a move that would increase competition among investors to win this distinct investment opportunity.
On a related announcement, MCI stressed that it would not hesitate in imposing the directives of the Custodian of the Two Holy Mosques to liquidate these schemes and refunding the contributors. It will strictly implement them against those who mishandle the rights of the contributors, confirming that anyone who is proved to commit any act of fraud or deception and hindering the workings of the committee, will be legally pursued.
Worth mentioning, the committee, under the chairmanship of the minister has decided, last week, to sell Burj Makkah scheme lot, in Makkah, at SR 19.45 per sq. m. with a total of 127,980 thousand for the whole lot of 6,579,96 sq.m. for Muatin real estate which bade the highest bid for a square meter for the scheme lot, advantageous of being at the entrance of Haram at the intersection of Umal Qura Road with the 3rd Ring Road. 
On the other hand, the committee rejected a bid to buy Tashlih scheme lot, in Jeddah, because of lack of fair bids equal to the value and decided to continue receiving direct buying offers for the scheme lot, which measures more than 618 thousand sq. m.
The committee has approved holding a number of public auctions in the few  next coming days, to sell remains of Muhandiseen lot, in Dilam, on Wednesday 5/11/1434, Jauhara auction on Monday 10/11/1434 in Majmah and two other auctions, In Jouf, in the wake of Eid.
It also called on those interested to get more information on the Makkah lot sale public auction of Salah Al-Niffaissi to call the committee through: 0114034140-0114034134-050022355
Last Modified 26 Dec 2018