Month: April 2015

Family Business Forum calls for an independent dispute resolution body

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Reading time: < 1 MinuteLegal advisors who participated in the Family Business Forum held in Jeddah recently emphasized the importance of establishing an independent body concerned with valuing the value of the shares of family businesses when exiting in disputes, in addition to the right of the founder to distribute part of his money and business in his lifetime, so that these companies do not deteriorate and harm the interest of the national economy, as family businesses contribute to ... Read more

70 exhibitors celebrate their clients at the Architecture and Design Expo

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The second edition of the Art of Architectural Design and Decoration Exhibition, which concluded last week, achieved a high return and created a great movement among visitors, exhibitors and those interested in the various fields covered by the pavilions of the exhibition, which lasted for three days at the Kingdom Hall at the Four Seasons Hotel in Riyadh, under the patronage of Engineer Abdul Latif bin Abdulmalik Al-Sheikh, Minister of Municipal and Rural Affairs, under the patronage of Engineer Abdul Latif bin Abdulmalik Al-Sheikh.

70 specialized entities

The number of participants in the exhibition increased to more than 70 entities specialized in the architectural, engineering and technical fields and related supplies; to achieve the exhibition's purposeful function to link exhibitors with all their fields and exhibits, and specialists and visitors with their interests and aspirations. The forum also witnessed the participation of a group of sponsors, companies and entities specialized in architectural works, engineering designs and artistic decorations, as well as related supplies and products, and the company «Smo Regulation» for advertising and public relations participated in organizing the exhibition, in addition to the sponsorship and support of the Saudi Commission of Engineers (SCOE).

Engineering design

Mustafa El Nahas, Marketing Manager of Logicom-Autodesk, confirmed their keenness to participate in such specialized exhibitions in order to market the products represented by the company, noting that their vision is to market high quality, efficient and professional software that serves the requirements of engineering design work.

Saudi Porcelain, represented by the design department headed by Asmaa Almoosa, also participated by introducing the company's new design services.

Wooden doors and decorations

Mr. Mazen Dabbas, Executive Director of Bishr Riyadh Factory for Wooden Doors and Decorations, described the exhibition in its second edition as excellent, praising the organization, diversity and turnout that accompanied it during the days of its holding, and explained that the factory's participation came to review the factory's specialization and uniqueness in designing and implementing wooden decorations and Moroccan and Damascene councils, according to high-level technical components and expertise.

World-class products

Mr. Ghassan Sari, Director of Sales at Arabian Tile Company Limited (ARTEC), confirmed that their goal of participating in the exhibition is to highlight the value and status of the company's products that put it in the ranks of international products, in addition to the convergence and introduction of the company; to meet the aspirations and tastes of the market in all its diversity, and to compete and compete with the latest products and ideas within the field.

Decor and lighting

Engineer Mohammed bin Abdul Mohsen Al-Rusais, Executive Director of supporting sponsor Aljada Trading Company - Avenue, confirmed that their participation came from the success they achieved in the first edition, which encouraged the company to participate in the second edition with double the space, with two wings and two specialties, namely (decoration and lighting).

Design your home in an hour

Mr. Essam Ali Dabour, CEO of Essam Dabour & Partner for Designs and Artworks, said that his company presented several participations, most notably «Eddy Home», which represents exactly the slogan adopted by the exhibition «from floor to ceiling» in addition to the "Design your home in an hour" service, and the "ID Card" service for discounts on designs.

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Jeddah Cityscape Jeddah 5102, which was held on 61 Jumada II for 3 days at the Jeddah Center for Forums and Events, concluded last week. With the participation of more than 05 exhibitors from inside and outside the Kingdom

Partnerships with “Housing”

Ewan Global Housing, the founding sponsor, announced that it has entered into a strategic partnership with the Ministry of Housing, through which it contributed to qualifying developers for the huge housing project that the Ministry of Housing recently launched and intends to develop in the north of Jeddah, while part of the project development contract has been awarded to the company.

North Jeddah Housing Project

The new project, which will be located south of King Abdullah Sports City, will include 4,200 housing units and is expected to be delivered within two years. Within a month, the design will be approved and marketed to the 100,000 beneficiaries previously approved by the ministry, some of whom will be nominated to benefit from the developed units.

Ministry of Commerce

The Ministry of Commerce, through its pavilion at the exhibition, reviewed the off-plan sales program and introduced the projects supervised by the ministry, which exceeded 17 thousand real estate units in various regions of the Kingdom, valued at about 20 billion riyals, in addition to knowing the necessary procedures for off-plan sales licenses for raw lands and foreign real estate marketing licenses.

Infrastructure Dialogue Session

Dr. Abdul Kader Amir, General Manager of Shamayel, acknowledged in the second day's dialogue session that it may be impossible to do real estate development, especially residential development, without infrastructure, or at least having it in place. The panelists agreed on the importance of defining what infrastructure is so that developers can estimate its impact on the price of the project before starting the implementation phase. They pointed out that public-private partnerships should be developed to share the burden of infrastructure development, from water and electricity to public transportation, medical facilities, schools, and other vital and key facilities that any real estate project needs.

Neil Tobin, COO of SEDCO Development, said that estimating infrastructure costs is relatively easy when the project is within the city of Jeddah, but becomes increasingly difficult to impossible the further outside of Jeddah you go, especially for mega projects that are currently being developed on the outskirts of the city, until the project is already in full swing.

Large presence of banks

Opportunities include competitive financing offers from Saudi banks for visitors to the Kingdom's premier real estate event.

Al Jazeera Bank

As part of its participation in the exhibition, Bank Al Jazira has allocated ideal and distinctive offers in specialized mortgage programs that vary to meet the financing needs of all segments under easy terms, based on the bank's keenness to provide the best Sharia-compliant financing services to its customers, and to meet the needs of the community, the top priority of which is owning a suitable home. This is in addition to three prizes worth thirty thousand riyals each, consisting of  for a coupon from AD Design.

National Bank

Al Ahli Bank offered several exceptional and unique financing solutions designed to suit all customers' needs in accordance with the provisions of the Islamic Shari'ah. Among the most prominent offers offered by the bank are instant approval with a competitive profit margin, in addition to other solutions and a full explanation to its customers about real estate financing.

Al Rajhi Bank

Al Rajhi Bank offered 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 buy an investment property with a commercial return without requiring salary transfer, life insurance coverage for mortgage customers, personal and mortgage financing at the same time, additional financing for Real Estate Development Fund customers in all cities of the Kingdom, and financing to buy residential real estate units (lands/villas/apartments).

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Jeddah Cityscape Jeddah 5102, which was held on 61 Jumada II for 3 days at the Jeddah Center for Forums and Events, concluded last week. With the participation of more than 05 exhibitors from inside and outside the Kingdom

Partnerships with “Housing”

Ewan Global Housing, the founding sponsor, announced that it has entered into a strategic partnership with the Ministry of Housing, through which it contributed to qualifying developers for the huge housing project that the Ministry of Housing recently launched and intends to develop in the north of Jeddah, while part of the project development contract has been awarded to the company.

North Jeddah Housing Project

The new project, which will be located south of King Abdullah Sports City, will include 4,200 housing units and is expected to be delivered within two years. Within a month, the design will be approved and marketed to the 100,000 beneficiaries previously approved by the ministry, some of whom will be nominated to benefit from the developed units.

Ministry of Commerce

The Ministry of Commerce, through its pavilion at the exhibition, reviewed the off-plan sales program and introduced the projects supervised by the ministry, which exceeded 17 thousand real estate units in various regions of the Kingdom, valued at about 20 billion riyals, in addition to knowing the necessary procedures for off-plan sales licenses for raw lands and foreign real estate marketing licenses.

Infrastructure Dialogue Session

Dr. Abdul Kader Amir, General Manager of Shamayel, acknowledged in the second day's dialogue session that it may be impossible to do real estate development, especially residential development, without infrastructure, or at least having it in place. The panelists agreed on the importance of defining what infrastructure is so that developers can estimate its impact on the price of the project before starting the implementation phase. They pointed out that public-private partnerships should be developed to share the burden of infrastructure development, from water and electricity to public transportation, medical facilities, schools, and other vital and key facilities that any real estate project needs.

Neil Tobin, COO of SEDCO Development, said that estimating infrastructure costs is relatively easy when the project is within the city of Jeddah, but becomes increasingly difficult to impossible the further outside of Jeddah you go, especially for mega projects that are currently being developed on the outskirts of the city, until the project is already in full swing.

Large presence of banks

Opportunities include competitive financing offers from Saudi banks for visitors to the Kingdom's premier real estate event.

Al Jazeera Bank

As part of its participation in the exhibition, Bank Al Jazira has allocated ideal and distinctive offers in specialized mortgage programs that vary to meet the financing needs of all segments under easy terms, based on the bank's keenness to provide the best Sharia-compliant financing services to its customers, and to meet the needs of the community, the top priority of which is owning a suitable home. This is in addition to three prizes worth thirty thousand riyals each, consisting of  for a coupon from AD Design.

National Bank

Al Ahli Bank offered several exceptional and unique financing solutions designed to suit all customers' needs in accordance with the provisions of the Islamic Shari'ah. Among the most prominent offers offered by the bank are instant approval with a competitive profit margin, in addition to other solutions and a full explanation to its customers about real estate financing.

Al Rajhi Bank

Al Rajhi Bank offered 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 buy an investment property with a commercial return without requiring salary transfer, life insurance coverage for mortgage customers, personal and mortgage financing at the same time, additional financing for Real Estate Development Fund customers in all cities of the Kingdom, and financing to buy residential real estate units (lands/villas/apartments).

With the participation of Amlak newspaper. Saudi Arabia's Stock and Financial Investment Forum concludes amid optimism of foreign funds entering the country

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His Royal Highness Prince Fahd bin Muqrin bin Abdulaziz emphasized  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 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 economies in the world.

Wide and distinctive participation

His Highness opened the Stock and Financial Investment Exhibition and Forum, organized by the Chamber of Commerce and Industry in Jeddah. With the participation of Amlak Real Estate Newspaper, from April 5 to April 7, 2015, which is considered the first Saudi exhibition specialized in the field, and was held at the Jeddah Hilton Hotel, His Highness toured the exhibition pavilions and listened to a detailed explanation of the participating companies and the nature of their business.

The exhibition witnessed wide participation from major brokerage firms, as well as financial investment companies and banking training institutes, and was an opportunity for investors to meet with leading companies and stakeholders and open horizons of cooperation in order to achieve a safe investment.

Highlighting Challenges

On the sidelines of the Equities and Financial Investment Exhibition and Forum, Mohammed Al-Shehri, Chairman of Kingdom International Group, the organizer of the exhibition, said that the 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 highlight many of the challenges facing the market; most notably the levels of disclosure and transparency, violent speculation and poor awareness to read the variables as well as the issues related to issuing bonds and various debt instruments from the legislative and regulatory aspects of the legislative and regulatory aspects.

Entry of foreign companies

In the same context, the forum welcomed allowing foreign companies to enter the market and creating a safe and attractive environment. It also aims to promote the application of the latest international financial standards in monitoring and inspection and to solve the legislative and legal difficulties faced by the bond and sukuk market that hinder the issuance and diversification of available debt instruments.

He pointed out that investing in the stock market and securities has legal and technical rules, warning against relying on false information in buying and selling because this may lead to losses for the investor, and in the same context, he warned against violent speculation as happened on Black Monday on the New York Stock Exchange or the Saudi stock market in February of 2006, or the Manakh Securities Market in Kuwait in 1983.

Regulations for foreign investment

According to the regulation announced by the Capital Market Authority to regulate the investment of foreigners in the Saudi market as of the middle of this year, the value of assets managed by foreign institutions wishing to invest in the Saudi market must not be less than SAR 18 billion and may be reduced to SAR 11 billion, and no direct foreign investor in the market will be allowed to own more than 5% of any listed company, provided that the direct ownership of foreigners does not exceed 20% of any company combined, and foreigners with the various investment vehicles available to them will not be allowed to own more than.

Participants discussed the latest developments and developments in the securities market, stability factors and the mechanism of entry of foreign companies and banks to invest. The panelists also highlighted the need to educate investors on ways to preserve and grow their funds by focusing on transparency and trust, supporting corporate governance and expanding the investor base.

Al Jazeera Capital is the main sponsor of the exhibition

Al Jazeera Capital«  In sponsoring the exhibition, its sponsorship is considered an active participation in the efforts to meet between government institutions, regulatory committees, and investors from individuals and institutions of all categories and levels.

On the sidelines of the sponsorship, Eng. Ziad Aba Al-Khail, Managing Director and CEO of Al Jazeera Capital, stated that the company always seeks to enrich the financial market with its global knowledge and local expertise, hence the idea of sponsoring the forum and exhibition specialized in the Saudi stock market and investment, in order to dialogue and interact with official partners and investors and discuss expanding relationships and investment horizons to provide advanced investment products that meet the aspirations and aspirations of all categories of customers.

National Bank launches Celebrate Life campaign

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Reading time: < 1 MinuteAl Ahli Bank announced the launch of the «Celebrate Life» campaign with Al Ahli credit and prepaid cards for the second consecutive year, offering 77 customers the chance to win 33 million miles and 1.1 million riyals over 11 months, from March 29, 2015 to February 28, 2016, during which seven winners will be announced every month. The campaign complements ... Read more

Where do event recommendations go? Abdulaziz Al-Issa

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Reading time: < 1 MinuteIn the middle of the first half of each year, it is customary for the various cities and regions of the Kingdom to be crowded with many specialized events and exhibitions, which almost overlap in their times and converge in dates in a way that may sometimes be confusing to the follower, and other exhibitions synchronize with each other to be held at the same time, so that the thermometer of follow-up and interest rises to the highest degrees for the strength of the impact of these meetings ... Read more

Administrative chat... The pressures of work By Dr. Hussam Youssef

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Management - Intelligence - Management Science - Real Estate

Reading time: 2 MinutesThe fear of losing a job and instability in the work environment is one of the main reasons that lead to increased psychological pressure for the worker, especially with the inability of many people to fulfill their life obligations, which leads them to slide towards disorders and fall prey to psychological and nervous diseases, as psychology experts have linked the increase in employees suffering from psychological issues ... Read more

King Abdullah Economic City plans to offer 022 residential plots on the Jeddah coast

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Reading time: < 1 MinuteKing Abdullah Economic City (KAEC) has started showcasing new properties for 220 plots of villas in the Al Sahel area of Al Murooj neighborhood, with an average plot size of 900 square meters. Buyers will be able to choose from 20 designs that vary between Arabic and Spanish styles that characterize the Al Murooj neighborhood as an upscale coastal destination with a Mediterranean theme, and events were launched in each ... Read more

“Aswar United to open its newest hotel apartments in Riyadh soon

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Reading time: < 1 MinuteAswar United Company is preparing to open its latest luxurious and distinctive hotel products, represented by Aswar Hotel Apartments, which is a qualitative addition to the accommodation and hostels that provide complete comfort to its customers. The hotel apartments contain 36 luxurious suites, special suites for newlyweds and newlyweds, in addition to a children's entertainment center designed in line with safety requirements, and equipped with high technology to monitor ... Read more

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