Month: June 2013

«Credit Bank» signs project financing contracts with 24 entrepreneurs

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Reading time: < 1 MinuteThe Saudi Credit and Savings Bank (SCSB) signed contracts with 24 entrepreneurs for financing projects in the excellence and startup tracks within the Small and Emerging Enterprises Support and Financing Program (Masarat) worth more than 32 million riyals during the customer contract signing meeting program organized by the bank at the headquarters of the Small and Emerging Enterprises Sector at the General Administration last week. During the meeting, a visual presentation was made about ... Read more

Ministry of Commerce decides to turn Al Bustan Nurseries into a closed joint stock company

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Reading time: < 1 MinuteRiyadh-Amalak The Minister of Commerce and Industry Dr. Tawfiq bin Fawzan Al-Rabiah approved the license to transform Al-Bustan Nurseries Company from a limited liability company to a closed joint stock company with a capital of 50 million riyals divided into five million shares with a nominal value of ten Saudi riyals per share. The company is ... Read more

China records fastest increase in house prices

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Reading time: < 1 MinuteBEIJING-Agencies Housing prices in China recorded the fastest increase in May compared to the same month last year, but the pace of increase slowed on a monthly basis, highlighting the central bank's dilemma in its quest to balance the need to support the economy and curb house price inflation. The average price of new homes in 70 major Chinese cities rose six percent on a month-on-month basis, ... Read more

More than 3 million tons of expected demand for steel

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Reading time: < 1 MinuteRiyadh - Amlak An engineer specialized in the field of major urban facilities expected that the demand for steel in the second half of this year will continue to be active to reach more than 3.5 million tons of local and imported steel. The engineer pointed out that there is an active urban movement, especially in infrastructure after the adoption of many projects through the current budget. ... Read more

After the passage of the real estate ownership law for foreigners in Turkey : Purchase requests for Turkish real estate increase by 30 percent

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Reading time: 1 MinuteJeddah-Amalak Real estate purchase requests witnessed a significant increase of up to 30 percent, especially after the Turkish government approved the law of real estate ownership for foreigners in Turkey, as revealed by investors and workers in the real estate sectors in Turkey, indicating that the recent events that took place in the Turkish capital in Taksim Square affected the fear of a number of Saudis after they concluded their contracts with their counterparts in Turkey ... Read more

Insurance towers in North Riyadh are nearing completion

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Reading time: < 1 MinuteRiyadh - Amlak The work on the Olaya Towers project, owned by the General Organization for Social Insurance (GOSI), is nearing completion on schedule, representing one of the largest investment real estate projects for the organization in Riyadh. The project has many advantages, including its location within the commercial strip at the intersection of Al Olaya and Tahlia roads, and is built on a land area of up to 27 ... Read more

World Steel Association predicts a surplus of iron ore

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Reading time: < 1 MinuteRiyadh - Agencies The World Steel Association (WSA) has announced that it expects the global iron ore market to be roughly balanced between supply and demand this year, but moving towards a growing surplus during 2014-2017. It said there could be a small surplus in iron ore supply of 20 million metric tons this year, increasing to 100 ... Read more

Al-Tuwaijri promoted to thirteenth in Qassim Municipality

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Reading time: < 1 MinuteBuraydah - Amlak: A decision by His Royal Highness Prince Dr. Mansour bin Miteb, Minister of Municipal and Rural Affairs, was issued to promote Ahmed bin Hamoud Al-Tuwaijri, Director of the Office of the Secretary of Qassim Region, to the thirteenth rank. For his part, Al-Tuwaijri thanked the Minister of Municipal and Rural Affairs and Qassim Governor Saleh Al-Ahmad, asking God for help and success, promising to exert more efforts to serve the municipal work.

Causing projects to falter: 30% labor losses in the construction sector during the current period

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Reading time: 2 MinutesA comprehensive gathering held by a number of workers in the contracting sector in Madinah revealed that contractors will lose 30 percent of the labor they are supposed to get to implement their projects after the deadline for correcting the situation expires on 24 Shaaban, and that this percentage will result in a 15 percent delay in the projects currently being implemented. ... Read more

Kuwait's Housing Loan Scheme: Kuwaiti government's efforts to solve the housing crisis - Proposal to allow foreigners to own real estate

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Reading time: 3 MinutesKuwait-Agencies The Kuwaiti government is striving to solve the housing crisis in several ways... Kuwait Finance House (KFH) has released the new edition of the KFH report on the local real estate market during the first quarter of 2013, which provides an overview of economic developments in the real estate market and government efforts related to providing housing for citizens, including increasing the housing loan ... Read more

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