Month: May 2015

“Makkah Real Estate” discusses the establishment of a specialized hall for real estate auctions

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Reading time: < 1 MinuteOpinions and ideas varied among members of the Makkah Chamber of Commerce and Industry regarding the use of the Chamber’s premises to house a dedicated hall for Makkah real estate auctions, Maher Saleh Jamal, Chairman of the Board of Directors, endorsed the proposal, which sparked a debate within the Chamber’s Real Estate Committee during its recent meeting. The debate pitted supporters against opponents of the proposal, which was put forward by committee member Yusuf bin Awad Al-Ahmadi and consisted of … Read more

«Maskan Arabia begins marketing 200 residential units of the Rataj residential project in Riyadh

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Reading time: < 1 MinuteMaskan Al-Arabiya for Investment and Real Estate Development has launched its second marketing campaign for 200 residential units in the «Rataj» residential project, located in the Al-Yasmin neighborhood in northern Riyadh, the Saudi capital. The project features a modern architectural design, and vary in style, layout, and size to suit different segments of Saudi society. The project spans an area of 114,232 square feet and is considered an extension of the «Bloom Fund» project… Read more

Saudi Fransi participates in the Aramco agreement with SAR 1,500 million”

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Reading time: < 1 MinuteWith a credit facility worth 1.5 billion riyals, Banque Saudi Fransi participated in the recent agreement signed by Saudi Aramco, under which the company secured a revolving standby credit facility worth $10 billion. These facilities were divided into two tranches, the first amounting to US$7 billion, and the second provided in Saudi riyals and equivalent to US$3 billion, with the value divided … Read more

Showcasing a variety of investment opportunities Saudi Energy Expo kicks off today

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Reading time: < 1 MinuteWith the participation of more than 158 local and international exhibitors and a number of national pavilions, “Saudi Energy Show 2015,” the international energy trade exhibition, kicks off today at the Riyadh International Convention and Exhibition Center. The exhibition will provide an opportunity to showcase the prospects and developments of the thriving local energy sector, as well as the latest and most prominent specialized products and technologies. Through its exhibition halls and accompanying events, the exhibition showcases all … Read more

“SAR Hires and trains 150 cadres at the Railway Institute

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Reading time: < 1 MinuteThe Saudi Railway Institute (SARB) welcomed 150 trainees from the Saudi Railway Company (SAR), whose hiring procedures were recently finalized by the company, for the purpose of training them and enrolling them in various training programs at the institute. The Institute’s Director General, Eng. Abdulaziz Al-Saqir, said that the on-the-job training programs offered by “SERP” to SAR employees include train driving and the maintenance of railcars and locomotives … Read more

Cayan Group finalizes the marketing of the first phase of Cayan Kantara Towers in Dubai

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Reading time: < 1 Minute Kayan Group, a leading real estate development and investment firm in the Middle East, has completed the sale of the first phase of the Kayan Kentara Towers project in Dubai in less than two weeks, selling more than 100 residential units in the project, which consists of two towers featuring residential units and hotel apartments. The project will be financed in collaboration with Shuaa Capital. Building on this success, … Read more

“Rakaz Real Estate” to Offer 41 Investment Plots at Public Auction Next Wednesday

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Reading time: < 1 MinuteRakaz Real Estate Company has finalized all arrangements for the launch of the «Downtown Rakaz» project in Al-Khobar at a public auction next Wednesday, May 13, 2015, in the main hall of the Sultan Bin Abdulaziz City for Science and Technology (SAITEC) complex located on the Al-Khobar Corniche. On this occasion, Abdulmohsen bin Hassan Al-Qahtani, Vice Chairman of the company’s Board of Directors, said that the «Downtown Rakaaz» project … Read more

“STC sponsors the World Telecommunications Assembly in the United States

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Reading time: < 1 Minute With the participation and attendance of more than 5,000 people representing nearly 2,000 companies from 150 countries around the world, Saudi Telecom Company (STC) is co-sponsoring the annual World Telecommunications Conference (ITW), which began today, May 10, 2015, and runs through May 13, 2015, in Chicago, USA. The meeting provides opportunities for deals, partnerships, and collaboration within the telecommunications industry… Read more

“Alhokair to launch four international hotels in Saudi Arabia and the UAE

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Reading time: < 1 MinuteThe Abdulmohsen Al-Hokair Group for Tourism and Development plans to launch three hotels in the Kingdom and one hotel in the United Arab Emirates through its contractual partnership with the Carlson Rezidor Group—three of them in the Kingdom and the fourth in the United Arab Emirates. The Park Inn by Radisson, Al Barsha 1 in Dubai, United Arab Emirates, will feature 102 rooms and suites and is expected to open in … Read more

Riyadh Chamber discusses financing issues with the Monetary Authority

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Riyadh Chamber

Reading time: 2 MinutesThe Riyadh Chamber of Commerce and Industry, represented by its Real Estate Committee, discussed a number of issues, most notably the 30% down payment required by the system for those seeking real estate financing, which recently came into effect, This took place during a meeting attended by committee members, real estate sector representatives, and officials from the Saudi Arabian Monetary Authority. In this regard, Hamad Al-Shuwaier, a board member and chairman of … Read more

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