Ajlan
Hamid Ruwaili from Dammam
The eastern region today Witness launching the fifth real estate scheme in an auction, where four real estate schemes were launched at auction two months, and they all were sold out with a total value exceeding three billion riyals and achieved revenues ranging between 35% and 70% within a period ranging between two months and two years.
Today, Ajlan Brothers and Ammar Real Estate Companies are launching Emdad industrial scheme which is located in Dammam in an auction held in Alandalus hall.
Ajlan Al-Ajlan the head of the boardof Al-Ajlan Brothers Company, one of the owners and developers in partnership with Ammar and Yazdan Real Estate Companies, said that Emdad scheme’s total area is 490 thousand square meters distributed over 193 pieces. He added that the scheme is characterized by its geographic position between the major cities Dammam, Dhahran and Al Khobar, it is near to King Abdul Aziz Port commercial and Saudi Aramco. And the scheme is connected by arterial network of important highways; it is located along the road of King Abdul Aziz Port, Jubail road and Dhahran quick road, in addition to its centralized nearby Abu Hadriya highway, which is the arterial link road between Bahrain and Saudi Arabia and Kuwait.
He pointed out that the scheme site near the first and second industrial cities in Dammam contribute to the provision of services and facilities to companies and factories operating in these industrial cities. And that the plan is a good investment opportunity for investors, and it is a central strategic location for warehouse users of all kinds.
He pointed out that it was extracting all building permits, in addition to the availability of all the required basic services such as electricity, lighting, planting, Telephone, and sanitation, as well as some other services.
Al-Qahtani
Abdul Hadi bin Fahd Al-Qahtany chief executive of Ammar real estate company- one of the owners and developers of the scheme – predicted that the total sales of the auction will exceed 400 million Riyal.
He added that 70% of the total scheme will be launched in the auction on blocks and the residual will be on solo plots until everyone benefit from the buying and selling process.
Al-Qahtany stated that auction begins on warehouses plots for thousand riyals per square meter and commercial for 1,100 riyals per square meter. He added that the commercial plots ranged between 1,300 and four thousand square meters, and warehouse of 1500 to two thousand square meters. He emphasized that the process of emptying will be directly after the completion of the auction, pointing out that it is allowed to build warehouses in the scheme of all kinds large, medium and small, as well as storage works, distribution centers, food refrigerators services and foods preparation laboratories, in addition to other relatively services, and work various vehicles services, and different size equipments services.
