Hawiya completes residential real estate auction in Riyadh worth SAR 919.5M

Hawyia Auctions Co. announced it successfully held an auction, on June 24, for residential real estate located in the Al-Jawhara Masterplan in Al-Raed district of Riyadh.

The properties are owned by Al-Jawhara Real Estate Development Co. (a single-person company under the Al-Jawhara Real Estate Fund). Total sales from the auction amounted to SAR 919.52 million, excluding VAT and commissions.

In a statement on Tadawul, the company expected the auction to reflect positively on financial results for the six-month period ending June 30, 2025. The relevant positive impact may potentially extend to the annual financial statements ending Dec. 31, 2025.

The success of this auction aligns with its ongoing strategy to market assets and properties on behalf of various entities.