Rimal Al-Jazeera Launches 'Siam Auction' in 8 Stages in the Western Region
Rimal Al-Jazeera Real Estate is organizing the 'Siam' auction in eight stages in the Western Region starting online on Sunday, October 18, with its first stage covering lands and buildings in Jeddah.
Rimal Al-Jazeera Real Estate Company, under the supervision of the Entrustment and Liquidation Center "Infath", announced holding the "Siam Auction" in its eight stages in the Western Region starting online on Sunday, October 18, at 10:00 AM, via the "Infath" auctions platform.
The first stage, "Siam Jeddah (1)", includes diverse real estate opportunities in prominent Jeddah neighborhoods, including residential and commercial lands in Al-Mohammediyah, Al-Basateen, Al-Naeem, Al-Faisaliyah, and others, as well as residential buildings and villas in Al-Salama and Al-Mohammediyah, alongside a group of commercial offices in Al-Ruwais.
The second stage offers land blocks and developable residential and commercial lands in Al-Ajwa neighborhood with areas starting from 350 square meters up to 8,800 square meters, while the third stage includes residential and recreational lands in Durrat Al-Arous and Jawharat Al-Arous with areas starting from 750 square meters.
The other stages extend to southern Taif, western Makkah, and several locations in Jeddah, encompassing residential, commercial, and agricultural lands. The announcement describes the auction as the largest in the Western Region, and details can be obtained by contacting the company or visiting its website.
What do these terms mean?
Online Auction: A public sale where bids are submitted online over a specified period, and the highest bidder wins.
Entrustment and Liquidation Center "Infath": A Saudi entity responsible for overseeing real estate auctions, liquidations, and judicial enforcement.
Land Blocks: Adjacent parcels of land intended for development or subdivision in an approved master plan.
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