Almas: an exceptional Adeer auction in Khobar delivers sales close to SAR 700 million
Adeer Real Estate, a leader in the Kingdom's real estate marketing sector, recorded an outstanding result at the public auction it held at the Grand Hyatt Khobar on Monday 30 September 2024 for the sale of the Almas properties, with sales reaching SAR 698,432,149.43 (including the real estate transaction tax and brokerage commission).
The event attracted a select group of investors and prominent real estate development companies who travelled from across the Kingdom to compete for the opportunities on offer.
Those opportunities ranged across commercial and residential land and existing buildings, distinguished by strategic locations in the heart of Khobar, between the districts of Al Yarmouk, Al Aqrabiyah and Madinat Al Ummal.
The result confirms the standing Adeer Real Estate holds in the Saudi real estate market and its ability to identify promising investment opportunities and bring them to investors professionally.
Commenting on the result, Muteb Hamed Al-Qahtani, Chief Executive Officer of Adeer Real Estate, said he was highly satisfied with the outcome of the auction, noting that Almas embodies the company's approach of providing distinctive investment opportunities that meet the expectations of different investor segments and support development across the Eastern Province.
Al-Qahtani thanked all the investors who took part in the Almas auction and confirmed the company's commitment to bringing further distinctive investment opportunities to market.
