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Plot of land on Red Sea sells for $352.7m

By TRENDS Desk
August 27, 2021 3:03 pm
  • The value of the endeavor amounted to more than $9.52mln for the land exceeding 281,000 sqm in a privileged location in the Alshatei district
  • The Arjuwan Red Sea Project is one of the most promising and ambitious real estate projects in Jeddah

In one of the largest real estate deals in Jeddah this year, the Saudi Oger Company’s “Arjuwan Red Sea Project” land has been sold in a public auction for $357.2 million.

According to Al Eqtisadiah  the value of the endeavor amounted to more than SR35.7 million for the land exceeding 281,000 sqm in a privileged location in the Alshatei district – one of the prestigious neighborhoods in northern Jeddah.

The Arjuwan Red Sea Project is one of the most promising and ambitious real estate projects in Jeddah, due to its strategic location in the heart of Alshatei district, Head of Adair Real Estate, the project’s exclusive marketer, Mutaib Al Saad previously said.

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