Infath says 1,800 auctions worth SAR 26B held since inception

Logo of Entrustment and Liquidation Center (Infath)

The Entrustment and Liquidation Center (Infath) has held more than 1,800 auctions worth over SAR 26 billion since its inception and until the first quarter of 2024, said Hamad Al Masoud, Entrustment Operations Manager.

The center seeks to fulfill rights to beneficiaries as soon as possible, Al-Ekhbariya reported, citing Al Masoud.

He added that the auctions held in cooperation with Infath partners of service providers see strong turnaround from businessmen, companies, and individuals.

Infath was established under a Cabinet decision in March 2019 as one of the initiatives of the National Transformation Program. It aims to assign the liquidation and sale activities to technically competent establishments in the private sector. The center also oversees the liquidation of assets, including real estate, movables, and inheritances, assigned by judicial authorities, the private sector, and individuals, according to the data available on Argaam.