Adeer Real Estate, Saudi Oger Limited Bankruptcy Sponsors Launch Second Phase of Marketing

Adeer Real Estate Company has signed an agreement with the bankruptcy sponsors of Saudi Oger Company Ltd., to launch the second phase of marketing and selling of the company’s real estate in Riyadh, Jeddah and Taif.

The bankruptcy sponsors of ” Saudi Oger Company Ltd.” (Tariq Al-Shabani, Rashid Awaji and Ayman Al-Moqhem) indicated that the signing of this agreement is based on the success of Adeer Real Estate Company during the last period in terms of marketing and selling a wide number of real estate available with competitive financial values. This confirms its marketing merit and high ability in selecting the best strategy to achieve the highest possible financial value of the property, based on its long experience in the market, which will enable the trustees to maximize the value of the bankruptcy assets, which will positively affect the distributions of creditors.

For his part, Meteb bin Hamad Al Saad, CEO of Adeer Real Estate Company, said: The real estate of Saudi Oger Company Ltd represents rare investment opportunities, due to its many advantages, diversity of uses, and strategic locations in the most important neighborhoods of Riyadh, Jeddah and Taif. This makes it a target for businessmen and investors. This was confirmed by previous auctions for the sale of some of the company’s properties. The auctions witnessed fierce competition to win the important investment opportunities offered by ” Saudi Oger Company Ltd. real estate”.

Al Saad stressed the keenness of “Adeer Real Estate Company to successfully market and sell all properties with the highest financial value commensurate with their importance to enhance its position in the real estate market in the Kingdom, and to confirm its quest to achieve its strategic objectives in providing the most important investment opportunities that are characterized by high potentials that attract real estate and investment companies and real estate developers.”

It also constitutes an added value for anyone who aspires to invest in real estate in the Kingdom, he concluded.