In the heart of Mecca, a real estate auction was held in attendance attended by prominent businessmen and investors in the region, where a commercial residential hotel was sold at a public auction for an eye-catching price.
The auction witnessed strong competition between business investors, as two friends were able to win the property and buy the hotel for a somewhat exaggerated amount, due to their desire to buy it despite the intense competition.
The hotel is located in a strategic location in Mecca. It extends over an area of 602 square meters and includes multiple facilities that meet the needs of visitors.
The auction started at approximately half the price, and three businessmen, in addition to two previous friends, entered to buy this hotel, and its price gradually doubled until it reached 10 million and 700 thousand Saudi riyals.
This sale comes at a time when Mecca is witnessing significant growth in infrastructure and urban development, which enhances its attractiveness as a destination for real estate investments.
– Asmae Belqis Sabry (@AsmaeBelqiss) January 9, 2024
Analysts praised the price at which the hotel was sold, considering it an indication of growing confidence in and investment in the real estate market in Mecca.
It is worth noting that the auction attracted great interest from local investors from Mecca and other regions, which reflects the growing demand for investment in the city.
2024-01-09 02:31:52
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