Investment Real Estate Represents 40% of Public Auctions in Saudi Arabia in 2023

Investment Real Estate Represents 40% of Public Auctions in Saudi Arabia in 2023

In 2023, the enforcement courts in Saudi Arabia conducted approximately 4,000 public auctions, averaging around 11 auctions per day, Invest-Gate reports.

Investment and commercial real estate accounted for approximately 40% of these auctions, according to official statistics.

The region with the highest number of auctions was Riyadh, accounting for about 28% of the total with 1,123 auctions. Mecca followed with 934 auctions, the Eastern Province with 537 auctions, Al-Qassim with approximately 281 auctions, and Al-Medina with 241 auctions.

Other regions in Saudi Arabia had varying numbers of auctions. Hail had 193 auctions, Asir had 164 auctions, Tabuk had 125 auctions, Jazan had 119 auctions, and Al-Jawf had 90 auctions. Al-Baha recorded approximately 48 auctions, while the northern border had 45 auctions. The region with the lowest number of public auctions was Najran, with 27 auctions.

Furthermore, the Saudi Ministry of Justice launched the second phase of the Preventive Justice Initiative. This initiative aims to convert more contracts into electronic and documented formats and implement projects that promote justice, transparency, timely resolution of disputes, and societal security. These efforts contribute to reducing judicial disputes and ensuring a fair and efficient legal system in the country.

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