Month: January 2013

GCC real estate and construction sector gears up for a new start Real estate and construction in the Arabian Gulf Last year's failures and successes

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Reading time: 8 MinutesRiyadh-Amlak The real estate and construction sector in the Arab Gulf countries during the past year continued to oscillate between failures and successes, and a large number of workers in the construction and real estate sector confirmed that the year 2012 had a great impact and faced the challenges of the global financial crisis that burdened the majority of workers in this sector, although it started in ... Read more

Jeddah-based real estate investment and development company Al Raffah International is off to a strong start

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Reading time: 6 MinutesAl-Rafahia International for Investment and Real Estate Development in Jeddah has managed to make a strong architectural impact in a short period of time, by constructing Al-Rafahia ownership apartments and villas featuring high-end technical specifications and top-quality finishes in the Al-Fahd, Al-Wurood, Zillat Jeddah, and Rabwah Al-Ajwad developments, where sales have begun and, within a short period, achieved significant buyer interest that exceeded … Read more

«SAP achieves SAR 3,240 million

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Reading time: 2 MinutesRiyadh – Amlak: SABB’s net profit for 2012 reached SAR 3,240 million, an increase of SAR 352 million, representing a 12.21% increase, compared to SAR 2,888 million in 2011. Net profit for the three-month period ending December 31, 2012, reached 815 million riyals, an increase of 160 million riyals … Read more

Bank Al Jazira's 12-month profit of SAR 501 million

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Reading time: 2 MinutesJeddah – Amlak: At the end of the fiscal year ending December 31, 2012, Al-Jazira Bank reported net profits of 98 million riyals for the fourth quarter, compared to net profits of 110 million riyals for the same quarter of the previous year, representing a decrease of 11.1% compared to a net profit of 130 million riyals for the previous quarter, a decrease of 25.1%. Total operating profit amounted to … Read more

Riyad Bank's profits at the end of 2012 were SAR 3466 million

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Reading time: 2 MinutesRiyadh – Amlak: Riyad Bank announced that its financial results for the period ending December 31, 2012, showed a net profit of 810 million riyals for the fourth quarter, compared to 778 million riyals for the same quarter of the previous year, representing an increase of 4.11%, and compared to a net profit of 840 million riyals for the previous quarter, representing a decrease of 3.61%. Total operating profit for the fourth quarter reached 1,670 … Read more

Arab National Bank reports 2012 net profit of SAR 2,371 million

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Reading time: < 1 MinuteRiyadh – Amlak: The Arab National Bank reported a net profit of 2,371 million riyals for 2012, compared to 2,171 million riyals for 2011, representing an increase of 9.21%, Total operating profit reached 4,757 million riyals, compared to 4,541 million riyals for the same period of the previous year, an increase of 4.71%, while net special commission income reached 3,260 million riyals, compared to 3,181 … Read more

“Saudi Holland appoints Al Khayyal as General Manager of Corporate Banking

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Reading time: < 1 MinuteRiyadh – Amlak: The Saudi Dutch Bank has announced the appointment of Hossam Al-Khayyal as General Manager of Corporate Banking. Al-Khayyal has nearly 20 years of professional experience, having held various positions at both the Saudi Industrial Development Fund and Samba Financial Group. Dr. Bernd van Linder, Managing Director of Saudi Hollandi Bank, welcomed Al-Khayyal to the bank’s family, emphasizing that … Read more

Sudan's president directs to remove obstacles to Saudi investments

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Reading time: < 1 MinuteKhartoum – Agencies: His Excellency Sudanese President Field Marshal Omar al-Bashir issued a directive to remove obstacles facing Saudi investments in Sudan, emphasizing the strong economic ties between the two countries. The Minister of the Supreme Council for Investment presented a report to the President on the arrangements for the Saudi-Sudanese Investment Forum to be held in Riyadh on January 23 and 24. Minister of the Supreme Council for Investment Mustafa Osman Ismail said he presented … Read more

It sponsors several exhibitions inside and outside the Kingdom: “Amlak is a media sponsor of Maskan Real Estate Exhibition in Riyadh

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Reading time: < 1 MinuteRiyadh—Amlak: The real estate newspaper “Amlak” continues to distinguish itself as a sponsor of real estate events and exhibitions both within and outside the Kingdom. The newspaper is sponsoring the “Maskan” exhibition for residential real estate projects, interior design, and furniture for the second time in Riyadh, organized by Mosaic Real Estate in collaboration with Nayara at the Nayara Center for Conferences, Exhibitions, and Celebrations. The event kicks off on February 17, with broad and significant participation from … Read more

Technical committee to facilitate and develop investment licensing procedures

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Reading time: 2 MinutesRiyadh—Amlak: Engineer Abdul Latif Al-Othman, Governor of the General Investment Authority, announced the formation of a specialized technical committee to develop investment procedures and facilitate investment in promising sectors, creating more jobs, increasing the share of local procurement, and contributing to the localization of technology. Al-Othman explained in a press statement that work is currently proceeding along two tracks: the first is removing obstacles that prevent the attraction of investments … Read more

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