RIYADH: The Entrustment and Liquidation Center (Infath) is set to electronic auctions across the Kingdom to provide investors with more efficient business opportunities.
Electronic auctions — accessed through emazad.sa — will allow investors to inspect several options and enjoy an easy bidding process that can be accessed and completed from anywhere.
The auctions will be held at the Khalidiya Auction, where three investment opportunities, namely shops with a total area of approximately 400 sq. meters in Tabuk City, will take place on Aug. 17.
The Taif Auction is for a 600-square-meter under-construction building and will start on Aug. 22.
Several other auctions will also be held on Aug. 23, including the Sabya Auction, featuring a famous house in the Sabya governorate; the Khamis Mushait Auction, where two residential properties over 800 sq. meters in Khamis Mushait governorate will be up for sale, and the Jad Auction, featuring four investment opportunities consisting of real estate and residential and commercial land, with an area of more than 62,000 sq. meters in Jeddah.
Auctions are carried out under the supervision of Infath, which oversees all sales and liquidations assigned to it by judicial, governmental, or private entities. They are given to the private sector transparently and competitively.
