Adeer sells the Nasayem Jeddah land for more than SAR 650 million
Adeer Real Estate has extended its run of successful auctions with the sale of the land at Nasayem Jeddah, the flagship of north Jeddah's projects, for SAR 650,091,517 including brokerage commission and the real estate transaction tax. The public auction was held on Wednesday 20 September 2023 at the Hilton conference and events hall in Jeddah.
As expected, the auction drew a large turnout of leading investors, businessmen and property development companies competing for assets set in a tourism area that combines heritage with modern development, and that offers buyers an integrated investment proposition.
Suleiman Al-Harbi, Deputy Chief Executive Officer of Adeer Real Estate, welcomed the success of the auction and congratulated the investors who acquired land in the Nasayem Jeddah residential project. The scheme extends over 891,000 square meters and occupies one of the most strategic positions in the Dhahban area, the future northern gateway to Jeddah and its natural urban extension, which makes it an exceptional location for residential, tourism and leisure development.
Al-Harbi noted that the success of the auction followed, after God's blessing, the major marketing effort made by the company's team to sell the Nasayem Jeddah land with full professionalism and precision, using the latest marketing methods and technology that distinguish Adeer Real Estate and have made it a leader in property marketing in the region.
Al-Harbi confirmed that Adeer Real Estate remains committed to sourcing the most important investment opportunities for its clients, in line with a strategy that makes meeting client expectations a central goal across everything it does. He thanked the company's clients for confidence that grows year after year, which is a source of pride and gratitude for the company.
