Month: July 2015

Minister of Housing Takes Oath of Office Before the Custodian of the Two Holy Mosques

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Reading time: < 1 MinuteHis Excellency Majid bin Abdullah Al-Hogail, who was appointed Minister of Housing by royal decree, took the oath of office yesterday before the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud—may God protect him—at Al-Safa Palace in Makkah, saying “In the name of Allah, the Most Gracious, the Most Merciful… I swear by Almighty Allah to be loyal to my religion, then to my King and my country…” Read more

Hotels and hostels in Makkah's central area achieve 100% occupancy rate

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Reading time: < 1 Minute“The occupancy rate in the central district of Makkah reached 100% over the past ten days, thanks to a comprehensive system of services and facilities—including accommodation, transportation, and security and safety measures—for pilgrims and visitors to Makkah." The branch of the General Authority for Tourism and National Heritage in the Holy City announced the success of this year’s Ramadan season, noting that a number of violations were detected among facility operators… Read more

Emir of Qassim places 369 stalled projects on follow-up committee's priority list

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Reading time: < 1 Minute  The Field Committee for Project Monitoring in the Al-Qassim Region has identified 369 stalled or nearly stalled projects in the region, and these projects will be among the committee’s top priorities in order to help expedite their implementation. For his part, Prince Faisal bin Mishaal bin Saud, Governor of the Al-Qassim Region, said that the committee has established criteria for projects that are on schedule, delayed, stalled, or suspended, specifying the extent of delays in the projects … Read more

Prices for furnished apartments jump to 450 riyals per day in Al-Sharqiyah

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Reading time: < 1 MinutePrices for furnished apartments in the Eastern Province continue to rise as Ramadan comes to an end and the Eid al-Fitr holiday begins, due to increased demand, while owners of furnished apartments seek to adjust their profit margins during social occasions when families are on vacation, particularly during the Eid holiday, which is a golden opportunity to recoup losses incurred by some apartments in previous periods. … Read more

Industrial Development Fund provides 53 industrial loans in Riyadh worth 893 million riyals

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Reading time: < 1 MinuteThe Industrial Development Fund completed financing for 972 industrial projects, comprising a total of 1,375 loans, during the 1435–1436 fiscal year, to contribute to the establishment of industrial projects in the Riyadh region. According to the annual report recently issued by the Industrial Development Fund, Riyadh ranked first in terms of the number of approved loans, but it ranked second in terms of the “value” of the approved loans, which … Read more

“Saudi Summer kicks off with 30 festivals starting from Eid Al-Fitr Saudi Summer kicks off with 30 festivals starting from Eid Al-Fitr

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Reading time: 2 MinutesThe General Authority for Tourism and National Heritage, in collaboration with its partners in regional tourism development councils and tourism committees, is expected to launch 30 tourism festivals, as part of the 57 festivals of Saudi Summer 1436 AH, which will be held during the coming month of Shawwal across all regions of the Kingdom. These festivals represent the second half of Saudi Summer, following the organization of a number of festivals in mid-Sha’ban, … Read more

240 billion riyals await the policies and plans of the new Minister of Housing, Majed Al-Hogail

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Reading time: 2 Minutes  The Ministry of Housing has entered a new phase by bringing fresh blood into its leadership with the appointment of His Excellency Majid bin Abdullah Al-Hogail as Minister of Housing. This step is an extension of the policy adopted by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, to empower young individuals with practical and academic expertise to assume leadership and development roles, heralding a decisive phase in the history of the Ministry… Read more

Real Estate Fund initiatives focused on individual lending and land development

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Real estate fund

Reading time: 2 MinutesOver the past period, the Real Estate Development Fund has launched approximately 15 initiatives to eliminate loan waiting lists, the most notable of which were 11 initiatives launched over the past six months, followed by the twelfth initiative introduced by former Acting Minister of Housing Essam bin Saeed, which aims to make it easier for citizens to own homes and reduce the backlog of waiting lists. The loan is disbursed in a single installment, and among the initiatives… Read more

Chinese replace stock losses with safe real estate investment

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Reading time: 2 MinutesAs a result of the recent collapse of the Chinese stock market, real estate experts and brokers in Australia, the United Kingdom, and Canada have predicted growing interest in their respective real estate markets from wealthy Chinese investors who have withdrawn their funds from collapsing stock market in their country, with reports indicating that 20% of the value of Chinese stocks has been lost since last June due to the severe turmoil that has rocked the stock exchange … Read more

New Housing Minister Majid Al-Hogail: Riyadh needs integrated and high-end projects

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Reading time: 6 Minutes“Al-Haqil: Innovation in Residential Suburb Development” is our motto… And boldness and ambition are our essence. Rafal Tower: 62 stories with unique designs, smart buildings, and a strategic location near the King Abdullah Financial District and the airport. Mortgages will encourage banks to provide financing and serve the real estate market. Interview – Faisal Al-Khalil Amlak Real Estate Newspaper republishes the interview it conducted in 2010 with the Minister of Housing … Read more

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