Business · Companies · 12 hrs ago
Riyadh’s Royal Mall sells for 629 million riyals including fees
Royal Mall in Riyadh sold at public auction for 612 million riyals, or 629 million including tax and fees.
A group of investors represented by Mishal bin Umaira bought it in an auction held both in person and online.
The mall covers about 29,700 square metres on a busy commercial site in the Al Rahmaniyah district, near King Fahd and King Abdullah roads.
Its location drew strong competition among bidders, and the sale price was about 20,600 riyals per square metre.
Opened about 20 years ago, the two-storey complex has retail shops, gold and jewellery shops, and government service offices.
The site could be redeveloped, including through taller construction, but no specific plans were announced.
Riyadh’s Royal Mall was sold at a public auction for 612 million riyals, with the total including tax and fees reaching 629 million riyals.
The buyers were a group of investors represented by Mishal bin Omaira.
The auction was held in person and online by Ibrahim Al-Qubaa Real Estate.
The mall covers about 29,700 square metres in the Al-Rahmaniyah district, near King Fahd and King Abdullah roads.
The sale could allow options including redevelopment and vertical construction, the report said.
- Who
- A group of investors represented by Mishal bin Omaira bought the mall.
- What
- Royal Mall was sold for 612 million riyals, or 629 million riyals including tax and fees.
- When
- The sale took place on the day the article was published, 27 October 2026.
- Where
- Royal Mall, in Riyadh’s Al-Rahmaniyah district, near King Fahd and King Abdullah roads.
- Why
- The sources do not state the buyer’s reason for purchasing the mall.
This story does not have two clearly opposing sides.
Royal Mall opened.
The mall was sold at an in-person and online public auction in Riyadh.
- Sale price
- 612 million riyals
- Total including tax and fees
- 629 million riyals
- Mall area
- About 29,700 square metres
- Price per square metre
- About 20,600 riyals
- Buyer
- A group of investors represented by Mishal bin Omaira
What people are saying
The deal exceeded expectations, given the distinctive and vital location and the opportunity that may not be repeated, as shown by the many investors who attended to compete for the deal.