Month: June 2015

During a meeting hosted by the Makkah Chamber “President of the Chambers”: Saudization is a requirement of the “King”, and the Saudi economy is strong

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Reading time: 6 MinutesDr. Abdulrahman Al-Zamil, Chairman of the Board of Directors of the Saudi Chambers of Commerce and Industry, described his recent meeting with the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz —may God preserve him—with the heads of local banks as a qualitative leap forward for the national economy of the Kingdom of Saudi Arabia and the role played by the private sector, which he described as the state’s main partner in this endeavor. He noted that the meeting focused on two topics … Read more

Real Estate Fund discusses details of the accelerated loan next Wednesday

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Reading time: < 1 MinuteThe number of eligible applicants for the accelerated loan program to provide housing solutions is expected to range from 200,000 to 300,000 among those who have applied to the Real Estate Fund, This product is one of fifteen initiatives launched by the Real Estate Fund to provide a range of practical solutions to facilitate home ownership and increase the housing supply, particularly in major cities. To clarify the details of the accelerated loan mechanism, a meeting will be held … Read more

Chinese company builds 57-story tower in 19 days

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Reading time: < 1 MinuteBroad Sustainable Building, a Chinese company specializing in construction, completed a 57-story building containing 800 apartments, in a remarkably short period of just 19 days, thanks to its use of modular construction technology—a method that relies on prefabricated building materials assembled on-site to create a structure designed using the same traditional methods as … Read more

“Egypt’s ”Tourism” Ministry Offers 8.5 Million Square Meters for Investment

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Reading time: < 1 MinuteEgyptian Tourism Minister Khaled Rami revealed that the Egyptian government is currently offering 8.5 million square meters of land in Wadi Qamisha, north of Hurghada, for investment.  He praised the scale of investments by Saudi businessmen in Egypt, which exceed $700 million, noting that there have been no setbacks in Saudi investors’ tourism projects in Egypt, and confirming that the Prime Minister’s Office has recently worked … Read more

Taif Municipality reaches advanced stages of developing the city's historic center

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Reading time: < 1 MinuteThe Taif Downtown Development Project is part of the City Centers Development Project undertaken by the General Authority for Tourism in cooperation with its partners in municipal authorities and local governments across all regions of the Kingdom. The project falls under the framework of the Custodian of the Two Holy Mosques’ initiative to preserve the Kingdom’s cultural heritage, The Taif City Center Development Project is one of the key projects being implemented by the Taif Municipality in partnership with the Authority. The Municipality has made significant progress… Read more

Real Estate Studies: Riyadh Needs 495,000 Housing Units by 1445 AH

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Reading time: 2 MinutesStudies published by the Riyadh Metropolitan Authority have revealed that the city will need 495,000 housing units by 1445 AH, at an annual rate of 27,500 housing units. A real estate study published by one of the Kingdom’s real estate companies estimated Riyadh’s need for new housing through the year 1455 AH at more than 482,000 housing units, and these will include comprehensive commercial centers, as well as large and medium-sized residential complexes… Read more

“Sahara Star” Begins Marketing 82 Furnished Residential Units in Jazan

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Reading time: < 1 MinuteSahara Star Contracting has completed preparations to begin marketing 82 furnished residential units in the gated, integrated complex it has completed in Jazan,  which is distinguished by its proximity to vital activities, institutions, government agencies, and the city center. Abdulaziz Al-Nasser, General Manager of Sahara Star Contracting, said that they made sure to complete the construction and finishing work ahead of schedule in preparation for welcoming prospective tenants so that they can … Read more

120,000 applicants to the Real Estate Fund do not own land

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Reading time: < 1 MinuteThe Saudi Ministry of Housing confirmed that 120,000 applicants for Real Estate Development Fund loans do not own land and that they can benefit from projects carried out in partnership between the ministry and the private sector. Sources noted that the Ministry of Housing relies on the private sector for more than 60 percent of its operations, as it is a sector that possesses experience, flexibility, expertise, and management capabilities, in addition to the Ministry’s own … Read more

Saudi and Russian ministries of housing sign memorandum of understanding for joint cooperation

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Reading time: < 1 MinuteActing Minister of Housing Dr. Essam bin Saad bin Saeed and His Excellency Andrei Chebis, Deputy Minister of Construction, Housing, and Public Utilities of the Russian Federation, signed a memorandum of understanding today on cooperation in the field of housing. The memorandum aims to exchange expertise, develop cooperation between the two parties in the fields of construction and housing, and establish joint projects in construction and building design using modern technologies … Read more

The Federation of Gulf Chambers organizes networking events with Europe

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Reading time: < 1 Minute  The Federation of GCC Chambers, in collaboration with the Confederation of Danish Industry and Fisher Scott, is organizing the Gulf-European Networking Event in Dubai next Wednesday under the theme “Facilitating Business and Trade Cooperation Between the European Union and the GCC Countries.” The Federation emphasized the importance of these events, which aim to open up broad horizons for building relationships, partnerships, and alliances among the trade sectors … Read more

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