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In a new event in the world of real estate and investment in Jeddah, a unique piece of waterfront land was sold at a public auction for an incredible price of over a hundred million. This land, covering an area of 10,838 square meters, attracted the attention of dozens of wealthy people and businessmen who fiercely fought for victory. With it.
The property is strategically located in the most prestigious areas of the Corniche in Jeddah and offers an enchanting and direct view of the waters of the Red Sea, which gives it a special value and makes it sought after by those who want to own luxury real estate first-class locations.
This sale is a clear sign of the growth of the real estate market in the Kingdom and the increased interest in investing in key locations in major cities, especially on the coast.
Real estate experts have pointed out that the price at which the property was sold reflects the increasing demand for luxury properties in the Kingdom, particularly those in busy areas and close to tourist attractions and beautiful beaches.
Price of land at auction
More than five people grew on this land, and the final price, excluding taxes, amounted to 107 million Saudi riyals.
– Asmae Belqis Sabry (@AsmaeBelqiss) January 2, 2024
In the auction winner’s statements, he expressed his joy and pride, saying: “The first thing is to remember God and say: God willing. The second is that, God willing, the country will be invested in what pleases God and what benefits him.” Our youth will live in Jeddah and, God willing, successful investments will be made that will benefit us .”
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