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Alqabba Real Estate Co. has announced that the Royal Mall, a prime commercial complex situated on King Fahd Road in Riyadh's Al Rahmaniyah district, will be offered for sale through a public auction. The property covers a substantial land area of 29,700 square meters. The auction is set to take place on October 27 at 4:30 p.m. local time, marking a significant commercial real estate event in the capital.
This upcoming sale follows a previous major transaction in November 2023, when Musa Bin Abdulaziz Al-Mousa & Sons Real Estate Group acquired an 80% stake in the property—representing 23,760 square meters—for SAR 387.45 million, or approximately SAR 16,000 per square meter. The price discovery at the public auction will serve as a crucial benchmark for commercial land valuations along Riyadh's main arterial corridors.
Market participants will closely monitor the auction results to gauge institutional demand for established retail and commercial assets in Saudi Arabia. The outcome could set new pricing precedents for real estate assets in Riyadh amid ongoing urban developments and economic transformation initiatives under Vision 2030.
