1 Day
Source:
الاقتصادية
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Medina land sold at auction for 462M Riyals
The real estate market in Medina recorded a historic deal by selling a 2,486 square meter plot of land in the central area for over 462 million Riyals, with the price per square meter reaching approximately 186,000 Riyals. The sale was conducted through a public auction organized by Basma Real Estate Company, and ownership of the land was transferred to Al Rayan Al Makkiyah Company. The real estate market in Medina is expected to experience faster growth due to increased demand, especially after allowing non-Saudis to own property in the city, following the Council of Ministers' approval of ownership regulations that came into effect in July 2025. This development enhances Medina's attractiveness as an investment destination.
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