Residential real estate has accounted for 65% of public auctions in Saudi Arabia since the beginning of the year subject

Residential real estate has accounted for 65% of public auctions in Saudi Arabia since the beginning of the year subject

font size Government data reported that the number of public auctions carried out by the enforcement courts in the Kingdom was about 3,842 since the beginning of 2023, at a rate of about 12 auctions per day, and residential real estate accounted for about 65% of them. The Riyadh region accounted for about 29% of the auctions with 1,108 auctions, followed by the enforcement courts in Mecca with 899 auctions, followed by the Eastern Province with 528 auctions, Medina with 236 auctions, and the Asir region with 159 public auctions. The number of auctions carried out in Jazan reached 118, followed by Tabuk with 123 auctions, followed by Al-Qassim with 277 auctions, followed by the Hail region with 189 auctions, followed by Al-Jawf region with 86 auctions, according to what was reported by Al-Eqtisadiah newspaper. The number of auctions in the Northern Border Region reached 45 auctions, followed by the Al-Baha region with 47 auctions. While the Najran region recorded the implementation of 27 public auctions.