Month: December 2014

Banks' retail real estate financing has grown substantially in five years

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Reading time: < 1 MinuteThe real estate financing activity in banks, specifically directed to the individual segment, has grown over the past five years with a significant growth of 200%. This was revealed by the Secretary General of the Information and Awareness Committee of Saudi Banks, Talaat Hafez, explaining that the volume of real estate financing for individuals in 2009 amounted to 28 billion riyals and increased by the end of the second quarter of this year to reach 84 ... Read more

«Al Hakimiyah Real Estate Development completes more than 50% of the Mareef residential development in Al Khobar

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Reading time: < 1 MinuteAl Hakimia Real Estate Development Company is working to hand over the first phase of the Mareef residential neighborhood project in Al Khobar in the Eastern Province in May 2015, after completing 60% of the concrete and bone-building works and starting the finishing works in the residential villas that make up the project, as part of its series of projects in the real estate development sector in the Eastern Province. The move comes ... Read more

Makkah Chamber criticizes the lack of real partnership in the field of housing

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Reading time: < 1 MinuteMansour Abu Riash, Chairman of the Real Estate Committee at the Chamber of Commerce and Industry in Makkah, stressed the importance of dealing with the real estate economic sector and the real estate committee in the Chamber of Commerce, as a helpful partner to announce the current and future plans for real estate in Makkah, indicating that this would spare all parties from establishing residential and hotel centers that cost the state treasury when removing ... Read more

”Retaj Residential implements thermal insulation systems

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Reading time: < 1 MinuteThe «Retaj» villas project, which is being developed by Maskan Al Arabia in Riyadh's Al Yasmeen neighborhood for the Blom Investment Fund, is one of the most successful examples in the Saudi market in terms of residential projects in which thermal insulation systems have been applied, some of whose values exceed international standards in this field. Mr. Hussam Al Rashoudi, CEO of Maskan Arabia Real Estate Development, emphasized... Read more

Saudi Heritage Hospitality Company to go public

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Reading time: < 1 MinuteThe Saudi Commission for Tourism and Antiquities (SCTA) is close to completing the private placement phase of the Saudi Heritage Hospitality Company with a capital of (250,000,000) in coordination with the Capital Market Authority (CMA) and the company's financial advisor, according to Dr. Hamad Al-Samail, Vice President for Tourism Investment and Development, noting that the private placement will be closed and the CMA will be notified of the results of the offering as soon as ... Read more

«Housing Ministry confirms timely delivery of housing units to beneficiaries

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Reading time: 2 MinutesThe Ministry of Housing confirmed that it has the ability to fulfill its promise to deliver the first housing unit to the beneficiaries of housing support, as Ahad Al-Masarha Governorate in Jazan witnessed the handover of the «Jasmine Neighborhood» project, under the patronage of Prince Mohammed bin Nasser bin Abdulaziz, Governor of Jazan Region, under the patronage of Prince Mohammed bin Abdulaziz. The Ministry of Housing's Undersecretary for Studies and Research and the Ministry's official spokesperson, Eng... Read more

60 billion worth of Saudi investment projects in Egypt

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Reading time: < 1 MinuteSaudi investments in Egypt have jumped to significant levels, with a number of Saudi investors and businessmen embarking on the establishment of twenty new development projects in Egypt, with a total investment of EGP 60 billion. This was revealed by Dr. Mustafa Madbouly, Egyptian Minister of Housing, Utilities and Urban Communities. He added that meetings have been held with a large number of Gulf investors, and memorandums will be signed ... Read more

Prince of Riyadh patronizes the exhibition and forum of «Public Transportation Projects» in the Kingdom

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Reading time: < 1 MinuteThe second edition of the “Pioneering Public Transport Projects” exhibition and forum will be held from January 25-28 at the Riyadh International Convention and Exhibition Center (RICEC) with the support and supervision of the Ministry of Transport under the patronage of His Royal Highness Prince Turki bin Abdullah bin Abdulaziz, Emir of Riyadh. Read more

“Kifaya Ejar is Arjaan's latest marketing project for home ownership

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Reading time: < 1 MinuteArjaan Projects, a company specialized in the development of integrated residential neighborhoods, has launched its new marketing campaign under the slogan "Enough Rent!", to start selling the second phase of Arjaan apartments in Manazel Cordoba 1, northeast of Riyadh, where the campaign aims to own residential apartments instead of continuing to rent to enhance family stability. On this occasion, the CEO and Managing Director ... Read more

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