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Saudi real estate auctions on the rise

Posted on 29 November 2012

Saudi Arabia is witnessing significant activity in real estate auction mainly in the Eastern region, where development plots sold in auction netted about SR3 billion ($800 million) during the last five months, up 20 per cent over last year, said an expert.
The Eastern Province and Riyadh are expected to unlock more lucrative prospects in the Saudi real estate market in 2013, given the rapid population growth and increasing number of businesses that are in continuous search of full-service projects to provide housing for their employees, remarked Omar Al-Kadi, the CEO and managing director of Injaz Development Company………………………………………..Full Article: Source


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