Tsfya sells 12 properties of Al-Rajhi estate for SAR 295.5 mln

Twelve properties from the late Sheikh Saleh Al-Rajhi's estate have been sold for SAR 295.5 million in the fourth auction held to liquidate his assets, the council responsible for the settlement of the succession (Tsfya Al Rajhi) said.

The properties include the Riyadh-based Al-Mansoura complex, Al-Batha building, Al-Salam complex, Ghubaira complex, Al-Malaz complex, Olaya complex, workshops in Al-Zahir and Al-Owaidah, in addition to a plot of land and some warehouses in Thulaim.

Tsfya earlier announced a plan to sell 55 properties in ten auctions as part of the second round of settlement process, to be held from Nov. 18 to April 16, 2018, Argaam reported.

Four assets were sold in the first auction at SAR 644 million. The second auction saw the sale of two malls for SAR 385 million while the third auction sold Al-Quds plot for SAR 950 million.