Jeddah’s Al Said land auction raises SAR 40 mln

Jeddah Municipality completed the Al Said scheme auction on Monday, raising almost SAR 40 million, Saudi Press Agency reported.

The scheme included 122 plots with a total area of four million square meters.

Saudi citizens from across the country participated in the auction, which implemented the modern mechanism for organizing auctions in order to give all citizens the opportunity to own a real estate and obtain suitable housing.

Jeddah’s auction committee has allowed only one plot for each citizen in order to enable more citizens to register for the scheme.