Saudi Arabia’s Adeer Real Estate Company has put up for auction a property belonging to the struggling Saudi Oger.
The land spans approximately 484,000 square meters in the capital, Riyadh.
Adeer set March 28 as the deadline for receiving bids on the Hateen Palaces lands. They will be announced on March 31.
CEO of Adeer Mutab Al Saad said real estate in Riyadh is one of the best investments in the country since the capital is constantly developing and attracting mega-projects, making it a destination for global companies.
Development projects in Riyadh, which are part of Vision 2030, aim to bolster the capital’s position as a prime destination for investment, by supporting its human potential and construction and economic foundations, with the aim of transforming it into one of the best cities in the world in terms of quality of life, he added.
Heteen Palaces, he continued, are one of the most promising investment projects in Riyadh given their strategic location in one of its most upscale and vibrant neighborhoods.
