Adeer sells the second phase of Akhial in western Dammam for more than SAR 2.29 billion
Adeer Real Estate sold the second phase of the Akhial project, located on one of the most strategic sites along Airport Road west of Dammam, at the public auction it held on Wednesday 20 December 2023 at the Sheraton Dammam Hotel. Sales reached SAR 2,293,596,571 (including the real estate transaction tax and brokerage commission), amid an exceptional turnout and wide participation from leading business figures and real estate investors in the Eastern Province and across the Kingdom.
Immediately after the auction closed, Muteb Hamed Al-Qahtani, Chief Executive Officer of Adeer Real Estate, congratulated everyone who secured one or more of the model residential and commercial plots offered by the Akhial project, which gives investors wide scope to launch modern real estate developments in step with the rapid growth and rising population density of western Dammam.
Al-Qahtani said that Akhial 2 is not merely a real estate investment project but a fully integrated community that serves the quality-of-life goals of Saudi Vision 2030. It is taking shape in a distinctive area regarded as the next chapter for Dammam, close to major service facilities and arterial roads, a position that has reinforced its importance, raised the value of the developments built within it and made it an ideal destination for anyone planning their future.
Al-Qahtani added that marketing projects of this scale requires strong relationships and distinctive marketing strategies, an area in which Adeer Real Estate excels. The company has a long record of marketing and selling major real estate projects in every region of the Kingdom with professionalism and precision and at the best prices, supported by its broad client network and the confidence it commands in the Saudi real estate market.
