Month: June 2015

Specialists throw a stone into the waters of the “beleaguered endowments” and call on the concerned authorities to intervene

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Reading time: 2 MinutesA number of experts and individuals interested in endowments have called for an end to the long-standing monopoly system, which has been in place for years and offers meager wages, and they emphasized the importance of encouraging both the lessor and the lessee to terminate the contract, given the current need for this and the existence of several alternative contracts that are more effective and economically beneficial, as well as the establishment of a “regulations” specifically for lease agreements, incorporating most of the provisions currently debated by judges, through senior and experienced judges. Dr. Yahya explained … Read more

The Engineers Authority is looking for prefabricated buildings for its headquarters

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Reading time: < 1 Minute  The Saudi Council of Engineers has decided to suspend construction of its headquarters buildings in Riyadh, Dammam, and Jeddah due to rising construction costs. The Council intends to seek out other ready-to-use buildings to serve as headquarters for the General Secretariat, Afterward, the land owned by the Authority will be transferred to the Investment Committee to explore the best possible ways to utilize it to support the Authority’s financial resources and make the most of its financial resources… Read more

King Saud University Enters the Real Estate Sector with the University Hotel Towers Project

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King Saud University

Reading time: < 1 Minute  The photo shows King Saud University Vice President Abdullah bin Salman Al-Salman welcoming Mr. Christopher Niseta, President of Hilton Worldwide, during his visit to the university. The purpose of the visit was to follow up on the progress of the University Hotel Towers project, which will be managed by the Hilton Group in accordance with the agreement signed between the two parties, and to explore prospects for future cooperation. Mr. Chris Niseta expressed his admiration for … Read more

Real Estate Index Records 31.1 Billion Riyals Across Four Regions in Three Weeks

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Reading time: 2 MinutesThe total value of real estate transactions during the month of Sha’ban and since the start of the summer vacation three weeks ago reached 31.1 billion riyals across four major regions: Riyadh, Makkah, the Eastern Province, and Madinah. Transactions in these four regions during the month of Sha’ban totaled approximately 18,971, including both residential and commercial deals. The real estate index … Read more

“Kasab Capital finalizes the liquidation of the Nawara Scheme Fund with proceeds of 27%

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Reading time: < 1 Minute    With net profits of 27% of invested capital, Kasb Financial Group has completed the liquidation of the Kasb Nawara Real Estate Fund, which had a total value of 155 million riyals. Majid Al-Hadeeb, Director of Real Estate Assets at Kasb Financial Group, said that the fund is working to grow its capital through the acquisition of a number of plots and blocks under development located in … Read more

Kingdom City in Jeddah is an edifice to which the rising Saudi generation looks forward with pride

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Reading time: 2 MinutesHis Royal Highness Prince Al-Waleed bin Talal, Chairman of the Board of Directors of Kingdom Holding Company, expressed his full satisfaction with the progress and implementation phases of the Kingdom Tower in Jeddah, which are proceeding according to schedule, and praised the efforts of the contractor’s team to complete the project on time. Kingdom City in Jeddah: The master plan for the Kingdom City project was designed to provide an integrated environment … Read more

Banque Saudi Fransi and Emaar Sign a 1 Billion Riyal Murabaha Contract

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Reading time: < 1 Minute  Emaar Economic City has entered into a murabaha agreement with Banque Saudi Fransi for a total value of 1 billion riyals, to finance infrastructure projects and the development of residential and commercial projects in various areas within the Economic City, including the Bawabat Al-Hijaz area adjacent to the Al-Haramain Railway Station in King Abdullah Economic City. Work will begin on May 19, 2015, and continue until … Read more

50 real estate appraisers joined the Saudi Appraisers Authority last month

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Real estate appraisal

Reading time: < 1 MinuteLast Sha’ban, the Admissions Committee of the Saudi Authority for Certified Appraisers granted membership to 50 real estate appraisal professionals who passed the personal interview, fulfilled the membership requirements, and completed the course on international appraisal standards, ethics, andof the valuation profession, out of a total of 65 applicants. The Authority’s Admissions Committee continues to conduct personal interviews with applicants seeking membership in the Authority, as … Read more

”Affordable Housing” launches Rimas Residential Complex

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Reading time: < 1 MinuteMohammed Abdullah bin Saidan, Managing Director of Al-Maskan Al-Maysar, announced the launch of the Rimas Residential Complex project, a gated residential complex located in northern Riyadh in the Al-Qayrawan neighborhood. It features comprehensive amenities, including a restaurant, a café, a swimming pool, a sports club, a public walking path, a laundry facility, a mini-market, a children’s play area, a multipurpose hall, and several sports fields, green spaces, and a building … Read more

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