Seven properties from Al-Rajhi estate sold for SAR 195 mln

Seven out of 11 properties from the late Sheikh Saleh Al-Rajhi’s estate were sold for SAR 194.6 million in the fifth auction held to liquidate his assets on Dec. 9, the council responsible for the settlement of the succession (Tsfya Al Rajhi) said.

According to data compiled by Argaam, the value of the total assets sold in the five auctions thus far is SAR 2.47 billion.

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 Al-Quds plot was sold for SAR 950 million in the third auction. Twelve properties were sold in the fourth auction for SAR 295 million.

Earlier this year, a court order formed a resolution to auction the estate of the late businessman, who was one of the founders of leading lender Al Rajhi Bank. He passed away in February 2011.