Month: April 2014

Mandatory thermal insulation for all buildings in major cities

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Reading time: 3 MinutesReal Estate - Updates: Prince Dr. Mansour bin Mutaib bin Abdulaziz, Minister of Municipal and Rural Affairs, issued a circular to all municipal authorities and municipalities across all regions of the Kingdom, emphasizing the need to mandatorily implement thermal insulation in all buildings in major cities—whether residential, commercial, or any other facilities—following the example of government facilities in major cities across the Kingdom’s regions, including 6 … Read more

More than 100 national and international companies showcase the latest textile and apparel technologies

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Reading time: 3 MinutesJeddah—Amlak: The International Textiles, Fabrics, and Apparel Exhibition (Tex-Tile 2014) recently concluded its events, which were held at the Jeddah Convention and Events Center, During its four-day run, the event attracted approximately 10,000 visitors, and the value of deals concluded at the fair exceeded 30 million riyals, with the participation of more than 100 local exhibitors… Read more

Saudi Arabia's new investment regulation for foreign investment offers benefits and guarantees

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Reading time: 3 MinutesAmlak-Follow-up: The new implementing regulations for the Kingdom’s Foreign Investment Law grant foreign investments benefits and guarantees equivalent to those enjoyed by domestic investments, in addition to allowing participation in all projects except for excluded activities. The regulations specify that any foreign project is entitled to the same incentives as its Saudi counterpart, in a move aimed at encouraging foreign capital to take advantage of … Read more

Fourteenth Industrialists Conference concludes with final recommendations

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Reading time: 3 MinutesMuscat—Agencies: At the conclusion of its proceedings, which were held recently in Muscat, the 14th Conference of Industrialists recommended ”working “to work effectively and swiftly to adopt policies and measures aimed at facilitating and streamlining Gulf exports to boost intra-GCC trade and trade with Yemen,” as well as “utilizing ports in the GCC states and Yemen to serve as an additional outlet alongside land routes to support industrial exports.” The session, which … Read more

Al-Ajhouri required to pay 656 million riyals to beneficiaries

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Reading time: 2 MinutesRiyadh—Property: A well-informed source explained that, following the seizure of Al-Ajhouri’s assets, the financial claims of the entitled parties amounted to 656 million Saudi riyals, The Administrative Court (Board of Grievances) ordered that Al-Ajhouri’s assets abroad be tracked down and that his relatives residing in various countries be pursued. The president of the Administrative Court, Sheikh Abdulaziz Al-Nassar, had instructed the “Al-Ajhouri Liquidation Secretariat”—which is responsible for inventorying and settling financial claims—to take … Read more

Dr.. Al-Suwailem: SMEs are the backbone of the economy in many countries of the world

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Reading time: 2 MinutesRiyadh—Amlak: Dr. Tawfiq bin Abdulaziz Al-Suwailem, Director of Dar Al-Khaleej for Economic Research and Consulting, confirmed that small and medium-sized enterprises (SMEs) are the backbone of the economy in many countries around the world because they account for approximately 90% of economic establishments and employ between 50% and 60% of the global workforce, noting that bureaucracy and red tape are the biggest obstacles to the progress of these enterprises. … Read more

Saudi women spend $2 billion a year in the beauty industry

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Reading time: < 1 MinuteRiyadh—Amlak: From April 8 to 10, 2014, the Saudi capital, Riyadh, will host the International Fashion and Beauty Exhibition and the ”Arab Women’s Charm Exhibition,” with the participation of local, regional, and international fashion, beauty, and women’s care brands. Organized by Al-Manasa, the event is considered the ideal platform for showcasing products and services tailored to the target audience in the fashion and beauty sectors, as it highlights … Read more

Bank Al Jazira's capital increased to 4 billion riyals

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Reading time: < 1 MinuteRiyadh-Amlak: Amlak International for Real Estate Development and Financing has announced, as part of its financing services designed to serve the corporate and commercial finance sectors, the launch of innovative financing solutions to provide the necessary support to its clients seeking to invest in, develop, orpurchase shopping centers and commercial complexes, in accordance with integrated financing programs that comply with the provisions of Islamic Sharia. Abdullah bin Turki Al-Sudairi, CEO of Amlak, confirmed … Read more

Dr.. Al-Suwailem: Malaysia and India are two examples of successful Asian experiences

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Reading time: 2 MinutesRiyadh—Talib D. Tawfiq bin Abdulaziz Al-Suwailem, a businessman and director of Dar Al-Khaleej for Economic Research and Consulting, emphasized the need to draw on the successful Asian experience in Asian countries, noting that current economic development in those countries is centered on all aspects of life, which has enabled them to achieve this advanced boom and sustainable development in the fields of industry, information technology, telecommunications, and infrastructure, … Read more

Architectural Design and Decoration Exhibition kicks off in Riyadh on April 8

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Reading time: < 1 MinuteRiyadh—Amlak will host the Architectural Design and Interior Decor Exhibition in Riyadh from April 8–10, 2014, at the Four Seasons Hotel. The exhibition will showcase the latest developments in all fields of architecture and interior design, as well as showcasing the most prominent examples in these fields, with the participation of numerous entities representing the government, academic, and private sectors, in addition to major national architecture and interior design firms and institutions… Read more

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