MCI Real Estate Shareholding Commission Successfully Ends the Auction for Dorat Al Khubar Contribution with more than SR (659) Million

19 Feb 2015
MCI Real Estate Shareholding Commission ends the public auction for selling the whole scheme of Dorrat Al Khubar contribution, section (B), in the Eastern Region  on Wednesday 18/02/2015 AD, where the auction was awarded in favor of one investment company with a total value exceeding SR (659) million for the entire scheme area.
The auction was held by Romaih Holding Company at Saif hall in Khubar, under the supervision of the Real Estate Shareholding Commission, with the presence of the said commission`s members, the auction was opened by a word of the Commission Secretary General Mr. Hamza Al Asskar, who focused on the efforts rendered by His Excellency the Chairman of the Commission, Dr. Tawfiq Al-Rabiah, the members of the Commission and the working team for the liquidation of the said contribution and giving back the rights of the shareholders.

Then H.E. Sheikh Khalid bin Ali Al-Dawood, Undersecretary of the Ministry of Justice, Chairman of the auction sale committee and member of the Real Estate Shareholding Commission, announced the start of the auction after assuring the investors and the audience about the safety of the land ownership instrument and that such sale is fully statutory.

Then the bid on the land began at a price of SR( 380 ) per square meter, and finally the auction committee had decided to award the sale to the last offered price, which is SR ( 440 ) per square meter
Last Modified 26 Dec 2018