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The more than 300 apartments in Almajdiah Residence’s new Riyadh complex sold in just a month for cash, without the company even having to advertise.
This is Saudi Arabia, the world’s biggest exporter of oil, so it’s no surprise the property market is red-hot as income from a spike in energy prices flows through the economy.
But Almajdiah’s chief executive officer, Abdulsalam Almajed says the scramble for the 1-million-riyal ($266,400) homes…