Qatari alliance won the Al-Bundugiyah land auction that was held on Thursday here at the request of the General Court. The alliance comprised Smo Real Estate and the Qatari Makeeni and Ibrahim and Abdul Rahman Al-Hinaki and Al-Sibei Real Estate. The auction started at SR40 per square meter as offered by Ayidh Al-Qahtani, chairman of Smo, but the committee had rejected it. Finally, the auction supervising committee accepted the offer made by the alliance at SR51.25 per square meter, closing the deal at SR1.880 billion. The land has a total area of 36,683,097 square meters. The auctioned area has been divided into three pieces and is located southeast of Jeddah and is 40 kilometers away from downtown Jeddah. The first piece of land is distinguished for its panoramic view of the Southern Corniche while the second piece which overlooks the Southern Corniche Road is adjacent to a road 120 meters wide. The last and third piece directly overlooks the expressway leading to the southern part of the Kingdom. - Okaz __
