Month: July 2014

Dubai plans to build the world's largest shopping mall

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Reading time: < 1 MinuteHis Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God protect him, launched yesterday the “Mall of the World,” the largest shopping center of its kind in the world, which will be a fully air-conditioned city spanning over 48 million square feet on Sheikh Zayed Road in the Al Safouh area of Dubai, where it connects … Read more

Saudi Arabia: Rising prices of construction companies' services increase construction cost bill by five percent

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Reading time: 4 MinutesSaudi real estate professionals have revealed that the cost of construction services is one of the main reasons for the rise in construction costs, especially following the increase in real estate projects and the decline in the workforce, some of whom left the country after the expiration of the corrective period imposed by the Ministry of Labor at the end of the previous Hijri year, through which it sought to reorganize the labor market. However, the construction sector was among the hardest hit… Read more

9 billion riyals traded in the real estate market, down 1.9%

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Reading time: < 1 MinuteThe real estate index recorded a decline of (1.971%) with a total transaction value of (9,175,844,426) riyals, The weekly report issued by the Ministry of Justice for the period from Sunday, 24/8/1435 AH to Thursday, 28/8/1435 AH, an increase in notarial deeds in Dammam, Madinah, Jazan, Al-Kharj, Taif, Al-Zulfi, Hail, Yanbu, Arar, Abha, Al-Ghat, Al-Bukairiyah, Harimla, Al-Ras, Hotat Bani Tamim, Hafar Al-Batin, and Shaqra, and a decrease in notarial deeds … Read more

38 million square meters to create residential units in eastern Riyadh

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Reading time: < 1 MinuteThe Ministry of Municipal and Rural Affairs has allocated a plot of land measuring 38,400,000 square meters to the Ministry of Housing for the construction of housing units for citizens in eastern Riyadh. Hamad Al-Omar, Head of the Public Relations and Media Department and official spokesperson for the Ministry of Municipal and Rural Affairs, explained that the decision to allocate the land necessary for the housing project in Riyadh is an extension of the Ministry’s efforts to meet the needs of all government agencies … Read more

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