Adeer sells Jawza Riyadh in a hybrid auction for nearly SAR 2 billion

The auction generated sales of nearly SAR 2 billion, with a large turnout of investors and property market participants competing for a major opportunity in east Riyadh, where urban development is moving at pace.

The sale offered a large raw land plot of more than 2.7 million square meters, strategically positioned on Khurais Road, the artery linking central Riyadh to its expanding east. The site is surrounded by model residential districts and promising development schemes, and sits close to government facilities and to essential, education and healthcare services. It supports a wide range of investment uses.

Suleiman Al-Harbi, Deputy Chief Executive Officer of Adeer Real Estate, said he was proud of the outcome: "The success of the Jawza Riyadh auction confirms that the company does not simply present investment opportunities, it works to provide opportunities of a quality that contributes directly to urban development in the Kingdom, and particularly in Riyadh, which is seeing unprecedented growth." He added: "This auction is an important step in the company's progress, and we look forward to seeing this land turned into an integrated development that serves the community and improves quality of life."

The Jawza Riyadh result adds to a record of successful property auctions run by Adeer Real Estate, reflecting the company's commitment to bringing forward valuable opportunities that meet investor expectations and support economic and urban growth in the Kingdom. The Entrustment and Liquidation Center (Enfath) contributes by accelerating the recovery of entitlements and simplifying asset liquidation, improving the efficiency and fairness of the property market through transparent and reliable mechanisms.