Month: July 2015

“Retirement” achieves attractive returns in the financial and real estate market with assets amounting to 26.809 billion riyals

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Reading time: 2 Minutes The Public Pension Agency has placed real estate investments at the top of its investment portfolio. The Agency’s annual report for the year 1435 / 1436 AH that the comprehensive economic outlook for its various investment activities necessitates placing real estate investments among the most important investments, especially since they are considered key investments pursued by pension funds in most countries around the world, underscoring the Fund’s interest in this area. Where … Read more

Jeddah Chamber conducts a comprehensive study to regulate the relationship between landlord and tenant

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Reading time: 2 MinutesThe city of Jeddah has seen a surge in complaints regarding rising rents for commercial spaces and residential apartments in many of the city’s neighborhoods, prompting the Jeddah Chamber of Commerce and Industry, represented by the Main Commercial Committee, to conduct a comprehensive study on regulating the relationship between landlords and tenants, with the aim of leveraging the National Program for the Regulation of the Rental Sector launched by the Ministry of Housing … Read more

Car racing, tournaments, theaters and 9 locations for youth celebrations of Eid al-Fitr

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Reading time: < 1 MinuteThe Riyadh Municipality has designated nine venues for young people during the Eid al-Fitr celebrations (Eid Riyadh... Two Eids), Ibrahim Al-Huwail, General Director of Parks and Director of Riyadh Eid Events, explained that the Municipality has set aside a large portion of the events for young people by designating nine locations for them. For the tenth year, the “Breaking the Time Barrier” car and motorcycle championship will be held, with a number of vehicles participating… Read more

King Abdullah Foundation implements 1922 housing units and approves 700 units in a number of cities

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Reading time: 2 Minutes  The Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud International Foundation for Humanitarian Work has completed 1,922 housing units across various regions and provinces, including Madinah, Riyadh, Jeddah, Al-Makhwah, Al-Ahsa, Amlaj, Yanbu, Al-Leith, Al-Ghazalah, and Samtah. The Foundation’s Board of Trustees approved this during its third meeting yesterday evening in Jeddah, chaired by His Royal Highness Prince Khalid … Read more

Sharqiya Housing Exhibition concludes the sale of 1000 apartments. Open until Ramadan 28

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Reading time: < 1 Minute  The companies participating in the Ministry of Housing’s exhibition at the Eastern Province Housing Exhibition have completed the signing of 1,000 contracts with eligible homebuyers, allowing beneficiaries of housing loans to choose from the diverse range of products offered by the eight companies implementing the housing projects, which will be built on an area exceeding two million square meters and will contain 4,536 housing units, consisting of apartments distributed across three projects: “Project … Read more

The Real Estate Fund approves the fifth tranche of loans for the current year, totaling 2.44 billion riyals

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Real Estate Development Fund

Reading time: < 1 MinuteThe Real Estate Development Fund has approved the fifth tranche of loans authorized in the budget for the fiscal year 1436–1437 AH, This tranche amounts to 2.44 billion riyals and covers the cities, provinces, and centers of the Kingdom served by the Fund, in accordance with loan priority. The Fund’s Director General, Engineer Youssef Al-Zaghibi, praised the continued support the Fund receives from the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz … Read more

”Municipal and Rural Affairs” discusses technical issues of 150 residential plans in Madinah

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Reading time: < 1 MinuteHis Excellency the Minister of Municipal and Rural Affairs, Engineer Abdul Latif bin Abdul Malik Al Sheikh, discussed with the Mayor of the Madinah Region, Dr. Khalid Taher, a number of issues related to residential plans in Madinah.  The two sides reviewed the mechanism of the Madinah Municipality’s plan to address the technical and organizational issues of the land plans—numbering 150 in total—and the results achieved so far, including the completion of 52 plans providing approximately 100,000 … Read more

The “Amlak” newspaper outlines the key features of the Real Estate Fund’s “accelerated” loan”

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Reading time: < 1 MinuteThe Director General of the Real Estate Development Fund, Engineer Youssef Al-Zaghibi, outlined the key features of the accelerated loan. Al-Zaghibi noted that the committee formed by representatives of the Fund and banks operating in the local market had completed its review of the mechanism for providing the accelerated loan last week. Al-Zaghibi added that three banks will submit competitive bids for the accelerated loan to the committee after the holiday, including the interest rate, noting that … Read more

The Real Estate Fund Confirms Launch of Accelerated Loan After Eid al-Fitr Holiday

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Reading time: < 1 MinuteThe director of the Real Estate Development Fund, Engineer Youssef Al-Zaghibi, confirmed that the launch of the accelerated loan is expected to take place after the Eid al-Fitr holiday, noting that discussions with local banks are nearing a satisfactory agreement, while ensuring that the accelerated loan product complies with Sharia law. Al-Zaghibi revealed the possibility of launching programs in collaboration with government sectors to provide loans to their employees … Read more

Extending the repayment period of the accelerated loan to 15 years and increasing the number of beneficiaries to 300,000

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Real Estate Development Fund

Reading time: < 1 MinuteThe director of the Real Estate Development Fund, Engineer Youssef Al-Zaghibi, explained that extending the repayment period for accelerated loans to fifteen years will increase the number of beneficiaries to 300,000 among those who have applied to the Real Estate Fund under the land-ownership condition and are currently on the waiting list. Conversely, the Real Estate Fund’s one-year extension has provided good options for those wishing to purchase ready-to-move-in housing units, … Read more

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