Adeer sells a property in Jeddah for $347 million
Adair Real Estate Company said that it had sold the land of Argowan Red Sea, one of the properties of the troubled Saudi Oger Limited Company, located in the city of Jeddah, with a financial value of more than 1.3 billion riyals (347 million dollars) to investors, during a public auction organized by the company the day before yesterday. Under the supervision of the bankruptcy trustees of the liquidation of Saudi Oger Ltd., Dr. Muhammad Fida Bahgat and Asaad Saleh Basudan.
Adeer Real Estate explained that the auction witnessed fierce competition between businessmen, investors and real estate professionals to win the land, which extends over an area of 281.8 thousand square meters and has many advantages, the most important of which is the vital strategic location in the north of Jeddah, with a direct view of the waterfront.
Mutaib Al Saad, CEO of Adair Real Estate Company, said, “The sale of the land of Argwan Red Sea in a record time and with a large sum of money, confirms the importance of this project, and the desire of businessmen and real estate development companies to invest in the north of Jeddah, which is considered one of the best areas of the Red Sea bride for investment. Real estate, given its components and services that raise the quality of life in it and make it attractive to successful investment projects.”
Al Saad stressed the company’s constant endeavor to provide the best real estate schemes that are characterized by their vital and strategic locations and meet the wishes of investors and real estate developers who are looking to develop their businesses and achieve their dreams.
The head of «Adir Real Estate» pointed out that the success of this auction confirms the strength and strength of the Saudi economy in light of the support that the real estate sector enjoys from the leadership with the implementation of many giant development projects, which work to attract investors and enhance the quality of life in various regions of the Kingdom.
It is noteworthy that Adeer Real Estate Company has succeeded in marketing many important real estate projects in various regions of Saudi Arabia.
Adeer Real Estate explained that the auction witnessed fierce competition between businessmen, investors and real estate professionals to win the land, which extends over an area of 281.8 thousand square meters and has many advantages, the most important of which is the vital strategic location in the north of Jeddah, with a direct view of the waterfront.
Mutaib Al Saad, CEO of Adair Real Estate Company, said, “The sale of the land of Argwan Red Sea in a record time and with a large sum of money, confirms the importance of this project, and the desire of businessmen and real estate development companies to invest in the north of Jeddah, which is considered one of the best areas of the Red Sea bride for investment. Real estate, given its components and services that raise the quality of life in it and make it attractive to successful investment projects.”
Al Saad stressed the company’s constant endeavor to provide the best real estate schemes that are characterized by their vital and strategic locations and meet the wishes of investors and real estate developers who are looking to develop their businesses and achieve their dreams.
The head of «Adir Real Estate» pointed out that the success of this auction confirms the strength and strength of the Saudi economy in light of the support that the real estate sector enjoys from the leadership with the implementation of many giant development projects, which work to attract investors and enhance the quality of life in various regions of the Kingdom.
It is noteworthy that Adeer Real Estate Company has succeeded in marketing many important real estate projects in various regions of Saudi Arabia.
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