Month: July 2015

New Housing Minister Majid Al-Hogail has scientific and practical experience in the field of real estate development

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Reading time: < 1 MinuteAt dawn on Monday, the 26th of the blessed month of Ramadan 1436 AH, the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, issued a royal decree appointing Majid bin Abdullah bin Hamad Al-Hogail as Minister of Housing. The new minister’s resume is marked by many highlights and promising achievements, particularly as he possesses both academic and practical experience in the fields of real estate development, banking, investment, insurance, and aviation at various stages… Read more

Royal orders: Majid bin Abdullah bin Hamad Al-Hogail as Minister of Housing

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Reading time: < 1 MinuteThe Custodian of the Two Holy Mosques, King Salman bin Abdulaziz—may God protect him—issued royal decrees early this Monday morning, the 26th of the blessed month of Ramadan 1436 AH, which included: – The appointment of Mishaal bin Abdullah bin Abdulaziz bin Musaed as Governor of the Northern Border Province with the rank of minister. – The appointment of Majid bin Abdullah bin Hamad Al-Hogail as Minister of Housing. – … Read more

Gulf citizens invest $22 billion abroad... with real estate accounting for $9 billion

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Reading time: 2 MinutesForeign direct investment from the Gulf Cooperation Council (GCC) countries reached approximately $22 billion in 2014, according to the 2015 World Investment Report, India was the top destination for Gulf projects last year, with approximately 73 projects worth a total of $3.6 billion, followed by the United States with 24 projects. The report noted that Saudi Arabia ranked third among Arab countries as the most … Read more

Mubarad announces the completion of the sale of its land for a total profit of 17.7 million riyals

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Reading time: < 1 MinuteThe Saudi Transport and Investment Company (”Mubarad”) announced that it has completed the handover of the land it sold and owned in the Al-Amal neighborhood of Dammam, with a total area of 51,400 square meters, for a value of 28.27 million riyals. The book value is 10.54 million riyals, and the total profit realized from this transaction is 17.7 million riyals, which has been recorded in the income statement for the second quarter of the current fiscal year. This comes … Read more

Study: Nine Key Factors Exacerbating the Housing Crisis in Major Saudi Cities

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Reading time: < 1 MinuteNine main reasons have caused the housing crisis to worsen in major Saudi cities, Jeddah tops the list of Saudi cities affected by the housing crisis, which has prevented the vast majority of citizens from owning housing units. Following Jeddah are Mecca, then Riyadh, Al-Khobar, and Dammam. According to the study, the most significant of these reasons are as follows: 1- Lack of … Read more

«BuildEx Egypt» to Kick Off Next August in Cairo

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Reading time: < 1 MinuteThe “BuildEx Egypt” International Exhibition and Conference on Construction Technology, Building Materials, and Interior Design will kick off on August 13 at the Cairo International Conference Center. During the conference, a number of major national projects that serve the Egyptian economy will be discussed, along with modern technologies in the field of construction and the future of the real estate sector in Egypt, with the aim of supporting the projects outlined in the economic development plan. In addition, … Read more

The Kingdom ranks 30th in terms of infrastructure... and the UAE ranks third

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Excavation work

Reading time: < 1 MinuteThe World Economic Forum ranked Saudi Arabia 30th globally in terms of infrastructure among 144 economies worldwide, taking into account the quality of road and rail networks and the quality of electricity supply. The World Economic Forum’s recently released annual Global Competitiveness Report emphasized the importance of advanced infrastructure in building a strong economy for nations, while also highlighting … Read more

The country mourns Prince Saud Al-Faisal to his final resting place at Al Adl Cemetery in Makkah

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Reading time: < 1 MinuteYesterday evening, the nation bid a sorrowful farewell to the late His Royal Highness Prince Saud Al-Faisal—may God have mercy on him—the former Minister of Foreign Affairs, who was laid to rest at Al-Adl Cemetery in Makkah. The deceased’s brothers and sons participated in the burial —may God have mercy on him. The Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, led the funeral prayer for… Read more

Outlook for the Real Estate Market Over the Next Ten Years ... Abdulaziz Al-Issa

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Reading time: 2 MinutesThe real estate market is influenced by surrounding factors and variables, the most significant of which is the tremendous technological boom in the field of communications, as the world has become inundated with ”digital technology.” and, as a result of this development, modern and rapid modes of transportation have been introduced. This change has transformed the real estate market into a large-scale economy and given rise to new alliances, which will have a profound impact on reshaping the market… Read more

Prince Saud al-Faisal's death shakes up global diplomacy

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Reading time: 3 MinutesExpressions of grief and sorrow dominated the posts of more than two million Twitter users across various social media platforms until late Friday evening, as they offered their sincere condolences to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, may God protect him, to His Royal Highness Prince Mohammed bin Nayef, Crown Prince, and to His Royal Highness Prince Mohammed bin Salman, Deputy Crown Prince… Read more

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