Al-Mohafazat Real Estate announces successful Qutb auction under Infath supervision

Al-Mohafazat Real Estate, the appointed sales agent and marketer, has announced the successful completion of the Qutb auction, with the sale of a prime undeveloped plot on King Salman Road in Al-Arid district. The transaction exceeded SAR 1.6 billion and was held under the supervision of the Center for Orders and Liquidation (Infath).

The auction saw strong competition among leading investors for one of the most prominent undeveloped real estate assets in the capital. The event was organized under the oversight of the Center for Orders and Liquidation (Infath).

The Qutb auction property is considered the rarest undeveloped land with a preliminary approved plan on King Salman Road. Part of the plot falls within the foreign ownership zone, located steps from the intersection of King Salman and King Fahd roads, and near the First Train Station. It sits at the heart of the vital northern Riyadh corridor, bordered by King Fahd Road to the west and King Abdulaziz Road to the east, close to The Avenues complex and major capital projects. These features combine to make it a unique investment opportunity rarely available in the real estate market.

The passage of Prince Saud bin Jalawi Road through the property from east to west, with a width of 60 meters, enhances urban connectivity and boosts planning and development efficiency, granting the asset exceptional flexibility to accommodate various high-quality, mixed-use projects.

Al-Mohafazat Real Estate stated that the auction's success reflects the maturity of the market and its shift toward major real estate assets capable of hosting sustainable, high-quality projects. It also demonstrates the transformation of the real estate sector toward long-term investment in strategic locations, in line with the growth of Riyadh’s mega-projects and their future prospects.