Month: May 2015

“Dour Hospitality” Strengthens Its “Makarim” Brand in the Holy Cities

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Reading time: < 1 MinuteDor Hospitality has strengthened its flagship brand, Makarem, in the Holy Cities of Makkah and Madinah, during a ceremony to launch its new brand identity at the Arab Travel Market at the Dubai Exhibition and Convention Center. SR 600 million will be allocated to develop 10 hotels in Makkah and Madinah, several of which will be operated by Makarem, a hotel chain specializing in serving the Holy Cities. On this occasion … Read more

Investment Opportunities Forum. “Industrial Development: We have supported projects worth 100 billion riyals

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Reading time: < 1 Minute  The Saudi Industrial Development Fund (SIDF) highlighted its achievements in supporting investment projects. Ahmed bin Abdulaziz Al-Qwaiz, Deputy Director of the Credit Department, revealed that since its establishment 41 years ago, the Fund has provided 100 billion riyals in loans to finance industrial projects, as well as projects supporting the industrial sector, such as infrastructure development projects in industrial cities, in line with the objectives for which the Fund was established, noting that … Read more

Elite Auction in East Riyadh Raises 400 Million Riyals

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Reading time: < 1 Minute The Real Estate Contributions Committee at the Ministry of Commerce completed the sale of the remaining units in the Al-Safwa development in Riyadh on Tuesday, with a total value exceeding 400 million riyals, as part of the ministry’s plans to sell off distressed real estate projects. The Al-Safwa project is located east of Riyadh, specifically along the new Eastern Ring Road between Khurais Road and Saad bin Abdulrahman Road, Exit 15, with a net area of … Read more

2.5 billion riyals in real estate loans for 5 thousand citizens by the end of Rajab

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Reading time: < 1 MinuteThe Real Estate Development Fund plans to distribute mortgage loans totaling more than 2.5 billion riyals to 5,000 citizens by the end of this month of Rajab, Engineer Yusuf bin Abdullah Al-Zaghibi, Director General of the Fund, confirmed that, in accordance with royal directives and under the supervision of the Minister of Housing, the Fund will continue to disburse payments every month; this will contribute to the construction of housing units by citizens in accordance with … Read more

“Al-Bilad Capital Partners with Real Estate Companies to Build a Luxury Residential Tower in Riyadh

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Reading time: < 1 MinuteAl-Bilad Capital has entered into an agreement with Rafal Real Estate Development, Al-Zahran Real Estate Development, Al-Muhaidib Group, and a pension fund, to launch the Rafal Living project, which involves the construction of a residential tower featuring luxury hotel-style apartments with distinctive designs and hotel management. Regarding the project, Khalid bin Abdulaziz Al-Muqairn, Chairman of the Board of Directors, said that this project will mark a qualitative leap … Read more

During the Investment Opportunities Forum, MODON showcases more investment projects

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Reading time: < 1 MinuteThe Saudi Authority for Industrial Cities and Technology Zones “MODON” in the 2015 Investment Opportunities Forum and Exhibition, sponsored by His Royal Highness the Governor of Riyadh Province and organized by the Riyadh Chamber of Commerce from 15–17 Rajab 1436 AH at the Riyadh International Convention and Exhibition Center. During the forum, “MODON” presented a visual presentation in which Eng. Tariq Al-Shehib, Director of Business Development at the Authority, highlighted the most important non-industrial investment opportunities … Read more

Includes the development of residential plans... Eastern Province allocates more than one billion riyals for the development of Dammam

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Reading time: < 1 MinuteThe Eastern Province Municipality has allocated more than one billion riyals in the current fiscal year’s budget for development projects in the city of Dammam, with the aim of improving infrastructure. It noted that 29 intersections are currently under review, more than half of which have been completed, while work is underway on the remainder. The Secretary of the Eastern Province, Engineer Fahad Al-Jubeir, explained that the Eastern Province Secretariat is working … Read more

At the opening of “Euromoney Saudi Arabia,” Al-Assaf announced: 2,572 government contracts worth $49 billion 

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Reading time: 3 MinutesFinance Minister Dr. Ibrahim bin Abdulaziz Al-Assaf opened the Euromoney Saudi Arabia 2015 conference, which kicked off yesterday in Riyadh for its tenth edition. Organized by the Ministry of Finance under the title «Opportunities and Financial Markets,» and addresses the real investment and commercial opportunities created by the Kingdom’s economic strategy, with the participation of global financial sector leaders and a number of international figures in the financial sector. Ministry of Finance: Our financial situation … Read more

The Real Estate Fund Extends the Loan Term by Another Year  

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Real Estate Development Fund

Reading time: < 1 MinuteHis Excellency Dr. Essam bin Saad bin Saeed, Acting Minister of Housing and Chairman of the Board of Directors of the Real Estate Development Fund, has approved the extension of the one-year grace period granted to all citizens for an additional year. The Director General of the Real Estate Development Fund, Engineer Youssef Al-Zaghibi, explained in a statement to the Saudi Press Agency that His Excellency the Acting Minister of Housing and Chairman of the Fund’s Board of Directors had approved the extension of the one-year grace period… Read more

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