In an exceptional event that underscores the strength of the Saudi real estate market, Adir Real Estate successfully achieved staggering sales exceeding 618 million Riyals during its public auction for the sale of land plots in the “Al Mashriq” project in Khobar.
The auction, held on Wednesday, March 12, 2025, at the Grand Hyatt Hotel, saw the sale of all 117 plots offered, with a total area of 247,000 square meters, in just 50 minutes.
The auction witnessed a massive turnout from investors and real estate enthusiasts, reflecting the strong confidence in Adir Real Estate’s projects, which are known for their high investment potential. Sulaiman Al-Harbi, the company’s Vice President, expressed his pride in this achievement, stating:
“The sale of all plots in the ‘Al Mashriq’ project reaffirms our leading position in real estate marketing and highlights the trust investors place in our projects, which combine prime locations, modern designs, and advanced infrastructure. This project will be a valuable addition to the real estate market in Khobar and will serve as an ideal destination for residential, commercial, and tourism investments.”
Al Mashriq is expected to witness rapid urban development in the coming years, further enhancing its investment value and establishing it as a prime destination for those seeking luxury properties in one of the most thriving and rapidly growing cities in the Kingdom.
This success adds to Adir Real Estate’s series of achievements in organizing successful real estate auctions, reflecting the company’s commitment to providing valuable investment opportunities that contribute to the economic and urban growth of the Kingdom.
