Month: September 2014

35 million worth of Fajr and Durra auctions in Abha

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Reading time: < 1 MinuteThe Real Estate Contributions Committee in the Ministry of Commerce held two auctions for the lands of “Fajr Abha” and ”Durrat Abha” yesterday at the Abha Palace Hotel, and the auction for the entire contributions was finalized for an amount exceeding 35 million, and the auction did not witness speculation except between limited personalities due to the arrival of high prices that individuals and allies could not continue in the auction. The auction, which was chaired by committee chairman Abdulaziz Al-Ghamdi, began ... Read more

King Abdullah Economic City showcases its residential products in Riyadh and Jeddah

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Reading time: 2 MinutesKing Abdullah Economic City announced the dates for the residential product showcase for lots in the ”Al-Manazil” residential neighborhood and the final phase of the First Villas neighborhood in the “Al-Tala Gardens” area, The event will take place from September 7–9, 2014, at the Al Faisaliah Hotel in the capital city of Riyadh, and from September 13–15 at the Jeddah Hilton Hotel. On this occasion, Fahad Al-Rashid, Managing Director and CEO of King Abdullah City … Read more

SMO's CEO among the top 10 CEOs in the Kingdom for 2014

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Reading time: < 1 MinuteEngineer Khalid bin Mohammed Al-Talmisani, CEO and Managing Director of Sumo Real Estate, was selected as one of the top 10 CEOs in the Kingdom of Saudi Arabia for 2014, by an independent committee of experts under the supervision of Saudi Projects Magazine. Khalid Al-Talmisani was selected as one of the top 10 CEOs in the Kingdom for his achievements during his tenure in overseeing numerous … Read more

«Al Ibrahim is the largest Saudi investment group at Cityscape Dubai with investments exceeding 5 billion riyals

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Reading time: 3 MinutesInvesting in high-quality projects that generate substantial returns for their partners and the community is the goal of serious investment firms and real estate developers, which is why alliances are formed among various parties, including investors, developers, financiers, and global construction companies. This is the view of Mr. Fahad bin Abdulaziz Al Ibrahim, Vice Chairman of the Board of Directors of Abdulaziz Al Ibrahim Investment Company, which is participating in … Read more

President of the Railways Corporation: Saudi Arabia and the UAE have already started implementing the Gulf Railway

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Reading time: 2 MinutesThe General President of the General Organization of Railways, Engineer Mohammed Al-Suwaiq, told “Al-Riyadh” that the final study for connecting the Kingdom and Bahrain via a high-speed rail line has reached its final stages and will soon be ready for implementation via a bridge parallel to the existing King Fahd Causeway, which the Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz, recently named after his brother, His Majesty King Hamad of Bahrain … Read more

Accepting applications for electricity connections to homes without deeds in Al-Baha

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Reading time: < 1 MinuteThe Secretary of Al-Baha Region, Engineer Muhammad bin Mubarak Al-Majali, announced that the region has begun accepting applications from citizens to connect electricity to homes whose owners do not possess legal deeds or ownership documents. He noted that applications and procedures related to connecting these homes to the power grid will be accepted at the Services Agency building in the Comprehensive Oversight Department.

Taif: Lifting the ban on obtaining title deeds for a 34-million-meter residential plan

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Reading time: 2 MinutesA source familiar with the suspension of title deed issuance for the largest residential development in northeastern Taif Province—covering an area of 34 million square meters—has learned that the ban on issuing title deeds for land within the development is currently being lifted, following the completion of procedures for its regulatory plan, No. 2483. The source noted that the Reconstruction Agency at the Taif Provincial Secretariat has contacted the court … Read more

Real Estate's Board of Directors recommends distributing half a riyal per share for the first half of 2014

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Reading time: < 1 MinuteThe Board of Directors of Saudi Real Estate Company has recommended the distribution of cash dividends to the company’s shareholders for the first half of fiscal year 2014 as follows: 1. Total amount distributed: 60 million riyals 2. Dividend per share: 0.5 riyals 3. Distribution ratio relative to the par value of the share: 51% 4. Dividend eligibility for the company’s shareholders registered with the Securities Depository Center … Read more

39 Japanese business leaders and members of parliament visit the Investment Authority

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Reading time: < 1 MinuteA high-level Japanese delegation comprising 39 business leaders and a number of economic officials began its visit to the Kingdom, starting with the General Investment Authority, where they met with officials and were briefed on the incentives offered to investors and the relationship with relevant government agencies . Misoshi, a member of the Japanese Parliament and head of the trade delegation to the Kingdom, emphasized that the most important opportunities in which they wish to invest … Read more

«Wathrah Real Estate and Ruya Capital sign a memorandum of understanding to create real estate investment opportunities

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Reading time: 2 MinutesWathra Real Estate Development Company—one of the largest real estate infrastructure developers—and Ruya Financial Group recently signed a memorandum of understanding to establish real estate investment funds in several cities across the Kingdom. The memorandum of understanding was signed in Jeddah last week by Abdulrahman Al-Muheidib, CEO of Wathra Real Estate Investment and Development Company, and Engineer Khalid Bashar Al-Jabri, CEO of Ruya Financial Group. … Read more

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