Month: April 2015

”Housing” recommendations call for a grace period to correct the status of white lands

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Reading time: < 1 MinuteShura Council member Abbas Hadi—a former Deputy Minister of Housing—reassured owners of undeveloped land by revealing some of the recommendations submitted by the ministry to implement a mechanism for imposing fees on undeveloped land. Engineer Hadi, who spoke to some local media outlets, explained that the recommendations included a grace period for landowners to sell or develop their properties, allowing them to resolve any issues… Read more

With the participation of more than 053 Arab and foreign companies ... Iron, Glass and Aluminum Exhibition kicks off today

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Reading time: < 1 MinuteThe 2015 International Exhibition for Iron, Metal Industries, Glass, and Aluminum kicks off today at the Riyadh International Exhibition Center, with the participation of more than 350 Arab and foreign companies from 26 countries around the world. The exhibition will run until April 9, 2015, and is being held under the patronage of the Saudi Authority for Industrial Cities and Technology Zones as the industry partner, the Royal Commission for Jubail and Yanbu, the Council of Saudi Chambers, and the Saudi Export Program… Read more

Cityscape's big turnout is sharp, financiers offer special facilities

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Optimism and participation

As a result of the increasing growth in the real estate market in all its forms, Jeddah Cityscape Jeddah 2015 is witnessing a wide participation of more than 50 local and regional exhibitors showcasing their projects to a wide visitor base expected to reach 10,000 visitors over the three days of the event inaugurated by HRH Prince Mishaal bin Majid bin Abdulaziz, Governor of Jeddah, at the Jeddah Center for Forums and Events (JCFE). The prepared programs witnessed a great turnout from the public, especially the pavilions of the participating entities and workshops.

At the same time, the Ministry of Housing announced its intention to launch a new residential project in Jeddah on an area of more than 13 million square meters, which will include 14,000 residential units, which will contribute to reducing the gap between supply and demand in the local residential real estate market.

High turnout on the first day

The exhibition kicked off amid an unprecedented turnout of visitors to the exhibition and Jeddah Real Estate Summit workshops and participants from investors, developers, engineers, designers, senior government officials and decision makers, in addition to senior officials in charge of designing and constructing real estate projects for both the public and private sectors who came to learn about the current real estate scene in Jeddah, explore the prospects of the Saudi real estate market in general, see the latest projects, ideas and services, and explore cooperation and partnership opportunities available with the participating companies.

Strategic importance

Dr. Abdullah bin Mahfouz, Chairman of the Board of Directors of National Exhibitions Company, the organizer of Jeddah Cityscape Jeddah, welcomed the visit of HRH Prince Meshaal to the annual exhibition, expressing his pride in his patronage of the exhibition and his keenness to provide all the support and support it needs. Dr. Bin Mahfouz highly valued the efforts of the State of Saudi Arabia to provide all means and exert all efforts in order to provide welfare and decent living for the Saudi citizen. »With the rapid boom in the Saudi real estate market, Cityscape Jeddah has proven over the past years its strategic importance as a platform that can accommodate the growing interest in this market and bring together experts, entrepreneurs and investors from across the region to discuss how to benefit from the many promising opportunities that characterize the Kingdom's real estate market," said Dr. Bin Mahfouz.

Lowering real estate prices

Riyadh Al Thaqafi, CEO of Ewan International Housing Company, said: «We have witnessed the recent intensification of government efforts to promote the local real estate market by incentivizing land owners to invest in various residential, commercial and industrial projects, thereby reducing real estate prices, especially residential ones. As a result, we expect to see a significant increase in home ownership among citizens over the next few years.».

in Jeddah. After the implementation of the mortgage ... The sale of villas decreased by 59% and apartments by 27%

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Reading time: 2 MinutesBy the end of March 2015, analysts and experts began assessing the first quarter of the current year, during which the real estate market in Jeddah achieved upward growth across the sector, including the office, residential, retail, and hotel segments. A report published by JLL (JLL) real estate consulting firm indicated that the market had reached its peak. The report divided the real estate market into four main segments, namely … Read more

Al Rajhi Bank presents its financing offerings at Cityscape Jeddah 2015

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  Through its participation in the Jeddah Cityscape 2015 real estate investment and development exhibition Al Rajhi Bank offers visitors to its booth at the exhibition special financing programs for real estate ownership with special offers and low and competitive profit margins during the exhibition period, benefiting all customers in all branches in all regions of the Kingdom. Al Rajhi Bank also offers other financing surprises and facilities to invest in real estate.

The bank offers its customers several options to obtain suitable financing according to the customer's need and financial solvency, such as financing against the mortgage of the property owned by the customer either depending on the salary transferred to the bank or depending on the income of the property as a source of repayment, financing to purchase an investment property with a commercial return without requiring salary transfer, life insurance coverage for mortgage customers, personal and real estate financing at the same time, additional financing for Real Estate Development Fund customers in all cities of the Kingdom, and financing to purchase residential real estate units (lands/villas/apartments)..

 It is worth mentioning that Cityscape 2015 kicked off yesterday, April 5, and will continue until April 7, with the participation of many real estate companies and government agencies from the Kingdom and abroad.

 

“Industrial Development” approves 35 loans to finance 29 projects worth 701 million riyals

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Reading time: < 1 MinuteThe Saudi Industrial Development Fund approved 35 loans to help finance 29 new industrial projects and the expansion of six existing industrial projects, with total approved funding of 701 million riyals, while the total investment amounted to 1.5 billion riyals, representing an increase of 46% in the number of loans, 106% in their value, and 120% in total investment. These projects are expected to create 2,102 job opportunities … Read more

Ministry of Housing hires specialized international companies to implement its housing products

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Reading time: < 1 MinuteIn response to the directives of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, to find urgent and rapid solutions to the housing crisis, the Ministry of Housing is preparing to engage international companies specializing in housing and construction that are capable of completing large-scale housing projects at low cost and in a short time, as part of its efforts to expand its partnership with the private sector. Well-informed media sources stated that implementing these directives requires a focus on two aspects … Read more

Experts and specialists are calling for the establishment of an association to develop and regulate the events sector

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Reading time: < 1 MinuteA number of officials and experts in the field of professional associations called for the establishment of an association to develop and regulate the events sector in the Kingdom, during a session of  «Proposal for an Events Organization Association,» held as part of the 2015 Travel and Tourism Investment Forum, organized by the General Authority for Tourism and Antiquities from the 9th to the 14th of Jumada al-Akhira at the Riyadh International Convention and Exhibition Center, and to begin forming an advisory committee … Read more

Bank Al Jazira's special financing offers at Cityscape Jeddah 2015«

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Bank Al Jazira, which is participating in the Jeddah Cityscape 2015 real estate development and investment exhibition in Jeddah, which kicked off this morning and will continue until April 7, 2015, has allocated ideal and distinctive offers in the specialized real estate financing programs offered as part of its participation in the exhibition, which varies to meet the financing needs of all segments on easy terms, based on the bank's keenness to provide the best Sharia-compliant financing services to its customers and meet the needs of the community, the top priority of which is to own the appropriate housing.

Bank Al Jazira is also offering special and exclusive offers, with one winner per day for three days, where each winner will win a voucher worth 30,000 riyals at “ID Design” stores specialized in luxury and modern furnishings, in addition to a 15% discount on any purchase with a value higher than the value of the voucher.

On this occasion, Khalid bin Othman Al Othman, Senior Vice President and Head of Retail Banking Group at Bank Al Jazira, said that the bank's participation in this exhibition is a confirmation of its keenness to be present in various events that support the development of this sector, and the bank always seeks to communicate directly with customers and introduce its products through such events to enhance the base of beneficiaries of the facilities and innovative solutions provided to them to finance their ownership of housing units or realize their investment dreams.

 

The Stock and Financial Investment Expo Kicks Off Today, Sunday, in Jeddah

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Reading time: < 1 MinuteUnder the patronage of His Royal Highness Prince Fahd bin Muqrin bin Abdulaziz, the Stock and Financial Investment Expo kicks off today, Sunday, and will run for three days at the Hilton Jeddah Hotel, Through its events, the expo aims to establish the first and largest platform specializing in the securities market, attract financiers and investors to invest in the sector, and highlight the decisions made by the Capital Market Authority. … Read more

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