Canv Real Estate continues to offer quality real estate investment opportunities in Saudi Arabia

The Zafar auction achieved great success by selling a distinctive plot of land with an area of ​​36,439 sqm, located on 4 main roads and special streets in the city of Buraidah. The auction, held in Mövenpick Qassim on October 24 2022, has been won by businessman Abdulaziz Al-Humaid after a competition on the land which had been owned by Commercial Industrial Chamber in Qassim.

In a related context, the sale by the owner of the land “Qassim Chamber” through this announced method is one of the most prominent indications for the application of governance policies, as this is the first public auction to sell a property owned by a chamber of commerce in the Kingdom.

This comes as a continuation of the successes achieved by Canv Real Estate in the recent period, as the number of auctions carried out by it exceeded 50 auctions with a total value of more than 250 million riyals in the last 3 years for the benefit of the government, private agencies, individuals and entities of the third sector, where Canv follows a unique method in real estate marketing and property management by enriching the real estate opportunity before offering it by contracting with independent economic and engineering consultants to study the best use of the opportunity before offering and showing the investment return from it. Results of the study showed three proposed projects commensurate with the nature and location of the real estate, which showed a high attractiveness for investment as it is located in an area experiencing remarkable urban and population growth. Canv has made the full version of the study and data related to the land available on its website.

The founding partner, Mr. Suleiman Al-Fawzan, commented that this auction will be the first of organizing distinguished quality auctions in various regions of the Kingdom, and the focus will be on Riyadh region. The Executive Director, Mr. Bader Al-Thuwaini, added that the company is currently in the process of organizing a number of auctions, including the auction of Al-Hamra scheme in Buraidah, which will be held on 11-8-2022 AD, including an auction of ten distinctive investment plots.

Al-Thuwaini added, as part of following Canv’s strategy in real estate marketing, which ensures achieving the highest levels of transparency and disclosure that contribute to effectively marketing the opportunity and serving the seller and buyer, the company has assigned Mazeej consultancy office to prepare studies for the best use of the properties offered in the next auction, adding that Blue Scope office has been assigned for engineering consultancy to prepare the necessary engineering plans for the properties that will be auctioned.