Adeer sets an online auction record with a Hafar Al-Batin land sale above SAR 200 million on Sumtec
Adeer, a specialist in real estate marketing in the Kingdom, reported a strong result for the Sadeel online auction held on Sumtec, the national auctions platform. The sale drew notable demand from investors competing for a single opportunity: a model plot of raw land in the Hafar Al-Batin region extending over a total area of more than 3.3 million square metres.
The auction closed with the land selling for SAR 203.8 million (including the real estate transaction tax and brokerage fee), the highest sale recorded in the history of online auctions.
The result confirms Adeer's leadership in the Saudi real estate market and its ability to draw investors to promising real estate opportunities across a range of channels, including modern online platforms.
The land benefits from a prime location close to main roads and key facilities in Hafar Al-Batin, making it an attractive option for investors seeking development opportunities, whether residential or commercial, that meet growing demand in the region.
Suleiman Al-Harbi, Deputy Chief Executive Officer of Adeer, said: "This achievement reflects our commitment to offering our clients the best investment opportunities and strengthens our standing as a leading company in the real estate market. We value this result and look forward to further achievements ahead."
