Month: April 2015

Banks lend SAR 714 million to small businesses under the Kafalah program«

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Sponsorship program

Reading time: < 1 MinuteThe ”Kafala” program revealed that the financing provided by banks and banks participating in the program amounted to 714 million riyals in the first quarter of this year compared to 572 million riyals during the same period of the previous year, an increase of 25%. Osama bin Abdulrahman Al Mubarak, acting head of the program, pointed out that the program witnessed steady growth during ... Read more

The Ministry of Commerce has renewed the ban on selling off-plan without a license

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Reading time: < 1 MinuteThe Ministry of Commerce confirmed its commitment to prevent the sale of any real estate units on the map unless licensed by the Ministry of Commerce and Industry represented in the off-plan sales program, and the Ministry of Commerce had suspended a number of real estate companies at the sixth Jeddah Cityscape Jeddah 2015, for offering and marketing real estate units on the map without obtaining ... Read more

“Shrek Real Estate launches Durrat Al Arous and Al Basateen at Cityscape Jeddah 2015”

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During its participation in Cityscape Jeddah 2015, Shrek Real Estate Company, a member of Dallah Al Baraka Group, has launched the Durrat Al Arous 2 projects and a residential scheme in Mecca for direct sale, and Durrat Al Arous 2 is one of the most important projects that the company is currently working on, It is located directly on the sea north of Jeddah Governorate, which is a group of developed lands that provide all infrastructure services such as water, electricity, asphalt, sewage and lighting according to the requirements of the official authorities, and these lands will be sold directly to those wishing to live or invest and contains more than 350 residential plots, with varying areas ranging from 500 to 1600 m2, with an average area of 1000 m2 per plot. This is in addition to the Al Bustan plan in Makkah, which contains a group of investment lands, the details of which will be announced later.

For his part, Hani Bahgat Khashoggi, CEO of Shrek Real Estate, pointed out that new quality development projects in Jeddah need innovative marketing mechanisms, especially since some projects have already turned to direct marketing to customers and targets.

With the participation of Amlak newspaper. Equity and Investment Expo highlights the challenges facing the market

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Reading time: < 1 MinuteThe exhibition aims to anticipate the future of the Saudi stock market, as it awaits the entry of foreign investments in it according to specific controls and conditions in the middle of this year, and the exhibition comes to shed light on many of the challenges facing the market; and from ... Read more

Inaugurating the Stock and Investment Exhibition Prince Fahad bin Muqrin praises the opening of foreign investment in the stock market

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His Royal Highness Prince Fahd bin Muqrin bin Abdulaziz stressed that the Cabinet's approval to open foreign investment in the Saudi stock market is a positive step that enhances the quality, effectiveness and transparency of the market if strong and highly experienced companies and financial institutions are selected. His Royal Highness pointed out that the Kingdom's economy is witnessing unprecedented leaps as a result of the serious reforms taken by the wise leadership, which contributed to strengthening its position as the largest Arab economy, to enter the club of the 20 largest economic countries in the world.

His Highness praised the state of growth witnessed by the Saudi economy in recent years, and the increase in government spending, investment in infrastructure and the increase in investment projects are indicators of the strength and solvency of the Saudi economy.

This came during his inauguration of the Equities and Financial Investments Exhibition and Forum, the first Saudi exhibition specialized in the field, which was launched with the participation of Amlak Real Estate newspaper, yesterday evening at the Jeddah Hilton Hotel, and toured the pavilions of the exhibition and listened to a detailed explanation of the participating companies and the nature of their business.

 

Shura calls for funding for the housing of Foreign Ministry employees“

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Shura Council

Reading time: < 1 MinuteThe Shura Council called on the Ministry of Foreign Affairs to set up a financing program for the Ministry's employees working abroad to own homes inside the Kingdom in easy installments, provided that the Ministry bears the financing costs and sets the necessary controls for this. This came after the Council listened to the view of the Foreign Affairs Committee on the remarks and opinions of the members regarding the annual report of the Ministry of Foreign Affairs for the fiscal year 1434/1435 AH. He called ... Read more

At the “Investment and Finance” exhibition, Kasab Capital reviews its experience in real estate funds

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Reading time: < 1 Minute The Middle East Equity and Financial Investment Forum and Exhibition, organized by the Jeddah Chamber of Commerce and Industry, continues its work with the participation of many companies and financial entities to showcase their latest achievements in the field of finance and investment. In this context, Kasab Financial Group is participating in a pavilion that showcases its experience in the fields of investment and real estate funds, portfolio management, and ... Read more

Cityscape Jeddah 2015 Various financing solutions from Al Ahli Bank

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 As part of its participation in the Jeddah Cityscape 2015 real estate investment and development exhibition, Al Ahli Bank is showcasing several exceptional and unique financing solutions designed to suit all customers' needs in accordance with the provisions of Islamic Shari'a. The bank's offers include instant approval, competitive profit margin, in addition to other solutions and a full explanation to its customers about real estate financing.

On this occasion, Hamed Fayez, Head of Retail Banking Group at Ahli Bank, said that the bank's participation in such events comes within the framework of its contribution to supporting the real estate sector in the Kingdom and playing an active role in financing the housing and real estate needs of citizens through a unique package of mortgage products and multiple benefits offered by the bank through experienced and trusted specialists.

Among the most prominent advantages of the National Bank's mortgage program is that it allows the customer to obtain a financing amount of up to 7 million Saudi riyals and a repayment period of up to 30 years with a competitive profit margin throughout the repayment period, and the program also offers takaful insurance in the event of death, total or permanent disability (God forbid), transfer the ownership of the property in the name of the legal heirs, and also provide takaful insurance on the property in the event of damage or collapse. The conditions for obtaining a mortgage include that the applicant must be a Saudi national with a minimum monthly income of SAR 3000, and the minimum required period of service in the last job is one month, and the conditions also include that the applicant must be at least 20 years old.

Cabinet approves decisions to distribute wastelands and rectify agricultural conditions

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Reading time: < 1 MinuteThe Council of Ministers, chaired by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, agreed during its meeting held yesterday afternoon at Al Yamamah Palace, that the Ministry of Agriculture, within 3 years from the date of this meeting, will take stock of the decisions to distribute wasteland lands whose owners have not applied for ownership, identify those lands and determine what was invested from them before that date, and complete the procedures of ... Read more

Its budget exceeded half a billion riyals ... ” Jeddah Chamber ”adopts 9 new projects that enhance infrastructure

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Reading time: < 1 MinuteThe Chamber of Commerce and Industry in Jeddah confirmed that it has allocated more than (42) million riyals for investment projects that support the small and emerging enterprises sector and support entrepreneurs. This step comes as an extension of the success of the Chamber's projects in the previous session, which included the establishment of two business centers next to the headquarters of the Chamber, to be opened in 2017, with the aim of supporting and enhancing the position of the Red Sea bride to host events and events ... Read more

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