MCI Real Estate Shareholding Committee Pays off the Due Amounts for Hittein Scheme Shareholders, as well as Starts Liquidating Al Saffwah Scheme

17 Aug 2015
and Offers some Plots for Sale in Riyadh
MCI Real Estate Shareholding Committee starts paying 67% of the due amounts for the shareholders in Hittein scheme in Riyadh, which represent the entire capital and a part of the profits, the balance will be disbursed after ending all legal and accounting procedures.

The said Committee had set up a live auction in the mid of the current year for selling 163 developed plots north of Riyadh, which had witnessed a great rush of buyers. Meanwhile, the total auction sales amounted to more than SR 400 million riyals. The average per square meter reached SR 2150.

The said Committee called on the shareholders, who had never updated their data, to visit the website of the Arab National Bank as soon as possible ( or the Committee's website and to fill out the form related to the shareholding, and then proceed to any of the Arab National bank's branches, providing a proof of I.D. and the original documents of the shareholding, making sure of adding the correct IBAN number. This is in preparation for transferring the shareholders due amounts as soon as possible directly to their bank accounts, without the need to attend the Committee's office in the Ministry or any of its branches.

On the other hand, the Committee has announced the completion of the liquidation of Al Saffwah scheme shareholding, east of Riyadh, which has achieved significant profits, estimated to more than SR 1.4 billion, including the compensation for the expropriation of parts of the scheme in favor of the route amendment of Al Sillai valley and the bridge of Almaizilah, with an amount valued to more than SR 990 million, In addition to the auction, which was held for selling the rest of the scheme for more than SR 400 million.
The said Committee has also decided to offer four plots for direct sale in   Jasmine quarter north of Riyadh. It starts receiving the bids and the deadline will be on Sunday, 29/11/1436 H.
Last Modified 26 Dec 2018