In a move reflecting the dynamism of the real estate sector in the Saudi capital, Huwayya Auctions announced the successful completion of a significant sale through the awarding of the auction for the Raw Al-Ulya land plot located in the Al-Aarid district, north of Riyadh. The auction, held on December 3, 2025, witnessed competitive bidding, culminating in the property being awarded to Al-Mahmal Real Estate Company.
Details of the multi-million dollar deal
According to the official statement released on the Saudi Stock Exchange (Tadawul) website on Thursday, the total value of the transaction reached SAR 455.91 million, an amount that excludes real estate transaction tax and commission fees. This transaction is considered one of the most prominent deals in the last quarter of the year, underscoring the attractiveness of undeveloped land in strategic areas of Riyadh.
The strategic importance of Al-Aridh district and northern Riyadh
This auction gains its significance from the prime geographical location of the land in Al-Aarid district. Northern Riyadh is currently the capital's premier destination for urban and investment expansion, with the district experiencing rapid development in its infrastructure and road networks. Al-Aarid's proximity to major thoroughfares makes it an attractive location for real estate developers seeking to create high-quality residential and commercial projects that meet the growing population density in the area.
The impact of the deal on the real estate market and the local economy
This deal comes at a time of significant activity in the Saudi real estate market, driven by the goals of Vision 2030, which aims to increase homeownership rates and position Riyadh among the top 10 city economies globally. The substantial investment in undeveloped land reflects investor confidence in the strength of the Saudi economy and the future of real estate development. Furthermore, transforming this undeveloped land into real estate projects will contribute to increasing the supply of real estate, creating job opportunities, and stimulating the construction and building sectors.
Expected financial impact
Financially, the company explained in its statement that the positive financial impact of this major transaction is expected to be reflected in the company's financial results for the period ending December 31, 2025. Public real estate auctions are considered one of the most transparent means of determining the fair market values of major real estate assets, which enhances the credibility of the market and its attractiveness to local and foreign capital.
