Month: August 2014

When are joint stock companies established in the construction sector?

by

Reading time: 2 MinutesI and others have previously written about the reality of the construction sector in the Kingdom, which operates in a state of chaos, With 115,000 commercial registrations for companies and institutions in the Kingdom’s construction sector as of the end of 2013, only 3,052 of them hold a classification certificate (i.e., only 3,100 TP3T), and most of them operate in violation of regulations, under the guise of front companies, while there are … Read more

Al-Zughaibi: Reducing the waiting period for applicants to the Real Estate Development Fund

by

Reading time: < 1 MinuteThe Director General of the Real Estate Development Fund, Engineer Youssef bin Abdullah Al-Zaghibi, announced that, in accordance with the directives of the Minister of Housing and Chairman of the Fund’s Board of Directors, Dr. Shuwaish bin Saud Al-Duwaihi, to expedite the issuance of additional loan disbursements, four tranches of new loans will be issued during the remainder of the current fiscal year, and the Fund will work to establish fixed and scheduled dates for the issuance of these tranches … Read more

Handover of all units in the Al-Yasmin Neighborhood Housing Project in Jazan

by

Reading time: 2 MinutesResidents have taken possession of all the villas in the Al-Yasmin neighborhood project in Jazan, which was built by the Ministry of Housing and distributed last Sha’ban, complete with full infrastructure, including electricity, water, sanitation, and roads, while the handover of other projects established by the Ministry in Jazan and other regions continues. The “Al-Yasmin” housing project is one of the projects that the Ministry has built in collaboration with … Read more

The index gained 57 points and regained the 10,700 level, which it had not reached for 79 months

by

Reading time: 2 MinutesThe local stock market’s general index gained 57 points yesterday, reaching 10,716, and returned to settle above the 10,700-point level it had fallen below in early January 2008—more than 79 months ago. Eleven of the market’s 15 sectors supported the market, with agriculture and banking among the best performers in terms of percentage gains, while the banking and petrochemical sectors drove the market higher… Read more

A program developed by 120 specialists and experts, with preparations underway for 35 sub-programs; «Thermal Insulation» is at the forefront of the Kingdom’s new energy conservation system

by

Reading time: 2 MinutesSaudi authorities have imposed additional regulations regarding energy consumption and waste by requiring citizens to use thermal insulation in new homes, as official estimates indicate that 70% of buildings in the Kingdom are not thermally insulated. These authorities have confirmed that thermal insulation helps reduce energy consumption by 30 percent, and coordination has taken place with the relevant agencies… Read more

Currency markets record the highest global performance

by

Reading time: < 1 MinuteThe Kuwait Finance and Investment Company (KFIC) stated that trading activity and the performance of global currency and derivatives markets reached their highest levels from the beginning of the year through the end of the second quarter. Hamed Abu Saada, the company’s director of trading in currency and derivatives markets, said that these markets were supported by positive economic data from both the United States and Europe. Abu Saada explained that this … Read more

Maintenance work begins at Glass factory in Dammam

by

Reading time: < 1 MinuteThe National Glass Industries Company (Zajaj) announced that, in accordance with the maintenance schedules for the company’s factories, maintenance work—including the reconstruction of the furnace and the modernization of the production line—began yesterday and will continue for one month. The company clarified that all production orders for the Dammam plant will be transferred to the Riyadh plant for production during this period, noting that the impact … Read more

«Investment» offers more facilities for establishing businesses

by

Reading time: < 1 MinuteThe Board of Directors of the General Investment Authority approved the deletion of paragraph (3) of Article 8 of the Executive Regulations of the Foreign Investment Law issued on 12/5/1435 AH, which previously stipulated «New license applications from companies seeking to engage in the same activity shall be treated as an expansion of the existing project,» in a new step within a series of measures recently taken by the Authority to facilitate all necessary avenues for the growth and prosperity of international companies wishing to … Read more

«Human Resources Committee»: 56 countries apply the unemployment system «Insurance»: There is no truth to the amendment of the pension calculation method

by

Reading time: 2 MinutesThe General Organization for Social Insurance has confirmed that recent reports circulating in newspapers and on social media—claiming that the organization will use the average salary for the entire duration of a subscriber’s membership instead of calculating the average of the last two years—are false. Abdullah Al-Abduljabbar, the agency’s official spokesperson, said: “The method for calculating pensions is specified in accordance with the provisions of the Social Insurance Law, whereby it is calculated based on the average … Read more

U.S. state revenues declined in the second quarter

by

Reading time: < 1 MinuteTraders on the New York Stock Exchange. A report showed that revenue in most U.S. states continued to decline in the second quarter of the year, with 36 states reporting an overall decrease of 0.8 percent compared to the same period last year. Total state tax revenue fell by 6.5 percent due to a decline in personal income tax revenue, which constitutes the largest share of revenue … Read more

© 2026 Amlak Real Estate Newspaper | All rights reserved.