Adeer records SAR 356 million in sales at the Teejan Corniche auction in Khobar
The Teejan Corniche auction, held by Adeer at the Al Maha Hall of the Kempinski Al Othman Hotel in Khobar on 30 October 2024, closed with total sales of SAR 356,920,697.43 (including the real estate transaction tax and brokerage fee).
The auction drew strong demand from investors, business figures and real estate development companies, with the expansive Teejan Corniche land selling in full.
For his part, Suleiman Al-Harbi, Deputy Chief Executive Officer of Adeer, welcomed the result, describing the Teejan Corniche land as a notable addition to the real estate market in the Eastern Province thanks to its strategic location in the distinctive Al Seif district.
Al-Harbi added that the result reflects investor confidence in Adeer and its focus on offering the best real estate opportunities to meet their expectations, in line with the company's vision of strengthening the Kingdom's position as an attractive investment destination.
Al-Harbi closed his remarks by thanking all the investors who took part in the auction, and said Adeer looks forward to bringing further distinctive real estate projects to market.
The Teejan Corniche land extends over a vast area of 277,285 square metres and includes a range of residential units (duplex – townhouse) as well as a luxury royal residence.
