Month: May 2015

“Real Estate Development” agrees with “Trade” to buy «off-plan» for the Fund's borrowers

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Real Estate Development Fund

Reading time: < 1 MinuteThe Real Estate Development Fund has provided beneficiaries with the opportunity to buy on the map from developers according to an agreement with the Ministry of Commerce represented by the Committee for the sale of residential units on the map, according to which the relationship, work mechanisms and procedures that will be followed to implement off-plan sales for the Fund's borrowers were defined, and a working team was formed from the Fund and the Committee to start activating this agreement. The Board of Directors of the ... Read more

“SABB finances SASCO with SAR 150 million

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Reading time: < 1 MinuteThe Saudi Automotive and Equipment Services Company (SASCO) announced that it completed yesterday, Monday, the signing of a credit facility agreement with the Saudi British Bank (SABB) worth 150 million riyals starting from the date of its signing to be used before January 31, 2016, guaranteed by an order bond. The company said that the agreement includes SAR 100 million long-term loan, in addition to SAR 50 million ... Read more

Al Rajhi Federation welcomes a unique architectural icon to Riyadh in a land worth 660 million riyals

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Reading time: < 1 MinuteAl Rajhi Union has completed one of the highest value deals in the local real estate sector by acquiring a plot of land located along the northern ring road in the northwestern Riyadh area worth approximately 600 million SAR, and Al Rajhi Union has completed all organizational, administrative and logistical preparations to develop one of the largest real estate projects in the Riyadh region and the Kingdom of Saudi Arabia. In an investment move that emphasizes ... Read more

The Saudis are the most numerous. More than 200,000 GCC tourists in Switzerland

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Reading time: < 1 MinuteThe number of tourists from the Gulf Cooperation Council (GCC) countries in Switzerland reached 200,000, according to a statistical report issued by the Swiss Tourism Authority, and the Kingdom ranked first among the Gulf countries in the number of tourists, followed by the United Arab Emirates in addition to the rest of the other countries with more than 200,000 Gulf tourists, an increase of 23 percent ... Read more

King Abdullah Foundation for Development Housing signs contracts to build 900 housing units

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Reading time: 2 MinutesDr. Ahmed bin Hassan Al-Arjani, Secretary General of the King Abdullah Parental Foundation for Developmental Housing, signed a number of construction contracts for the construction of 900 housing units distributed in 9 locations, in each of: Riyadh, Hail, Northern Borders, Makkah, Asir, Najran, Bahah, Qassim and Al Jawf, each site includes 100 housing units, a mosque and a cooperative society at a total cost of 350 million ... Read more

Failure to implement the FIDIC contract has led international companies to shy away from megaprojects

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Reading time: 2 MinutesThe failure to implement the global construction contract «FIDIC» despite the Ministry of Finance's approval of its implementation in government projects has led to the reluctance of a number of international companies to enter the Saudi market to implement mega projects, which negatively affected quality projects that require technical capabilities and international expertise, such as metro projects, railway lines and other future projects, due to the lack of application of «FIDIC» ... Read more

“Municipality and Rural Affairs” issues classification certificates to 280 contracting companies during the first quarter

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Reading time: < 1 MinuteThe Ministry of Municipal and Rural Affairs has approved 280 contracting companies and institutions to receive classification certificates during the first quarter of 2015, an increase of 27 companies and institutions from the total number of companies and institutions that received classification during the same period of 2014. The ministry sought to reduce the time period for obtaining classification certificates to less than 40 days from the date of application for ... Read more

Al Jazeera Paints showcases its smart products at the Smart Skyscraper Summit

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Reading time: < 1 MinuteAl Jazeera Paints participated in the second annual Smart Skyscraper Summit 2015 as a gold sponsor, showcasing the latest designs, technologies and solutions for high-rise buildings in the region, particularly in Dubai, one of the global centers for skyscraper development. During its participation in the summit, Al Jazeera Paints highlighted its 'Smart Paints' range, which combines the qualities of ... Read more

Second Saudi FIDIC Forum discusses drafting contracts and improving the construction environment

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Reading time: < 1 MinuteThe second Saudi Forum for FIDIC Contracts, organized by the Saudi Council of Engineers with the support of the International Federation of Consulting Engineers (FIDIC), kicked off today at Al Khozama Hotel under the title ”Best Practices for FIDIC Contracts and their impact on improving the construction environment in the Kingdom”, with the participation of a group of experts in the business and engineering sectors from the GCC countries and some countries of the region as well as legal experts offering their expertise ... Read more

Almoosa & Sons sponsors Abha Real Estate and Financial Solutions Exhibition

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Reading time: < 1 MinuteMousa Bin Abdulaziz Al Mousa & Sons Company participated as a distinguished sponsor of the Abha Real Estate and Financing Solutions Exhibition at the Abha Palace Hotel, which was held from May 19-21, 2015, under the patronage of His Royal Highness Prince Faisal bin Khalid bin Abdulaziz, Emir of Asir Region. The exhibition, which was organized by Nabtan International ... Read more

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