Adeer Attains Huge Sales in Rawasi Jabal Omar Auction

Adeer, a Saudi-based real estate service provider sold the land plot of Rawasi Jabal Omar, adjacent to the Holy Mosque in Makkah for a total value of more than SR558 million, during the public auction organized by the company on Wednesday in Jeddah city.

The auction was very popular and witnessed fierce competition from businessmen, investors and real estate development companies to win the land that marred by an exceptional and unique location in the heart of the central area of the Holy Capital within the mixed-use “Jabal Omar” project.

This plot land is located steps away from the Holy Mosque in Makkah that has given it great spiritual and investment significance, given the region’s specificity and the increasing demand for housing next to the Grand Mosque.

The area of Rawasi Jabal Omar is more than 2,600 square metres. It is a land fully developed by state-of-the-art infrastructure development including rainwater drainage, sewage, water, electricity and telephone systems.

Meteb Al-Saad, CEO of Adeer Real Estate Company, said that the broad participation in the auction and the intense competition that has been experienced by companies and individuals reflects the mounting confidence in and significance of investing in the Jabal Omar project to achieve rewarding economic returns.

“Real estate investment in Makkah was and still is a successful and safe investment in this blessed place.” he stressed.

He also said that the financial value of the sold land plot of “Rawasi Jabal Omar” indicates that the real estate market has begun to recover after the stagnation it experienced during the past year due to the spread of the coronavirus pandemic.

“This confirms the strength of the Saudi economy, and the strength of the real estate sector in it. It also opens the doors of investment to the diligent people who are looking for unique opportunities in the land of the Two Holy Mosques.” he concluded.