Month: May 2013

On the occasion of 8 years of prosperity and giving: The Custodian of the Two Holy Mosques renews allegiance to the Custodian of the Two Holy Mosques

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Reading time: 2 MinutesRiyadh—Amlak: Citizens of the Kingdom across various regions renewed their pledge of allegiance to the Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz Al Saud,may God preserve him, on the occasion of eight years marked by generosity and prosperity during his reign, may God preserve and protect him. Leading the way were princes and state officials, both ”civilian and military” officials, to affirm their loyalty and allegiance to their leader, emphasizing that the Kingdom achieves success year after year under the leadership of its ruler, the Custodian … Read more

144 billion in hotel investments through 2020: 214 new hotels to open in Saudi Arabia over the next two years

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Reading time: 2 MinutesRiyadh—News Agencies: Over the next two years, various regions of the Kingdom will see the launch of 214 hotel projects ranging from five-star to four-star and three-star properties, This is due to the promising nature of the Saudi hotel investment market, with total planned hotel investments by 2020 estimated at 143.928 billion riyals, in addition to a number of tourism projects and towers that … Read more

Middle East Monitor: Custodian of the Two Holy Mosques' directives will revive the Saudi real estate market

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Reading time: 3 Minutes• Estimates: 30% of the Kingdom’s population live in inadequate housing • Rising land prices are hindering real estate developers from building affordable housing • There is a need to launch programs and projects to develop land-use plans • The real estate sector maintains growth levels of 5.9 % through 2017 • Government measures are helping to strengthen the Kingdom’s reputation as a leading global investment destination … Read more

The event concluded with regional and international participation: ”Euromoney Saudi Arabia discusses the Kingdom's growing role as a regional and global financial center

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Reading time: 3 Minutes– Minister of Housing: The adoption of mortgage and real estate financing regulations and the development of a housing strategy were the most significant developments – Minister of Finance: Saudi Arabia is experiencing financial stability as a result of sound and effective economic policies – The conference honored a number of national institutions, companies, and banks for their outstanding financial and developmental performance Riyadh—Amlak: The Euromoney Saudi Arabia Conference, which concluded its two-day proceedings (May 7–8 … Read more

* Plans and programs to localize engineering expertise in development projects * ”Municipal and Rural”: 1.2 million citizens on the waiting list for grant lands

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Reading time: 2 MinutesRiyadh—Amlak: According to the latest statistics, the number of citizens registered on the waiting list for land grants has reached 1.2 million. This was revealed by Prince Mansour bin Mutaib bin Abdulaziz, Minister of Municipal and Rural Affairs, in a statement he made on the sidelines of the symposium «Localization of Engineering Expertise in Development Projects,» which was recently held in Riyadh. During the event, he discussed the ministry’s plans, programs, and efforts in the area of localization … Read more

Royal Decisions and Real Estate Tycoons

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Reading time: 2 MinutesThe strong royal decrees and orders recently issued by the Custodian of the Two Holy Mosques, may God preserve him, regarding the granting of land and loans to citizens and the allocation of residential land for housing, have thwarted the plans of real estate tycoons who have been speculating on real estate and undeveloped land. Their frustration and confusion have been further exacerbated by the Ministry of Housing’s to impose fees on undeveloped land within urban areas that has not been rezoned … Read more

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