Month: August 2015

Riyadh Metro tunneling machine prepares to dig Riyadh Metro tunnels (Olaya-Batha)

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Reading time: < 1 MinuteThe High Commission for the Development of Riyadh is preparing to launch the giant tunnel-boring machine ”Thaqiba,” now that its installation is nearly complete. The machine will”Thaqiba” will lead operations in the area south of Al-Olaya Station, moving northward over a distance of 4 kilometers along the first route (Al-Olaya–Al-Bataha). The Authority stated that the manufacture of approximately 1,000 concrete rings has been completed at the Northern Concrete Plant for the route … Read more

Riyadh's exhibitions and conferences sector development team headed by the Secretary General of the Chamber of Commerce and Industry

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Reading time: < 1 MinuteHis Royal Highness Prince Faisal bin Bandar bin Abdulaziz, Governor of the Riyadh Region and Chairman of the Region’s Tourism Development Council, recently formed a task force to develop the exhibitions and conferences sector in the Riyadh Region, chaired by the Secretary General of the Riyadh Chamber of Commerce and Industry, and comprising representatives from the Riyadh Municipality, the General Authority for Tourism and National Heritage, the Ministry of Commerce and Industry, King Khalid International Airport, and the Authority … Read more

“The Real Estate Fund denies raising the mortgage loan to 600 thousand riyals

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Real Estate Development Fund

Reading time: < 1 Minute  The Real Estate Development Fund denied any plans to raise the value of future payments to 600,000 riyals, and an official source emphasized that the reports circulated by the media in recent days are untrue. The source noted that such a plan has not been put forward for discussion or consideration. The same source urged media outlets to exercise accuracy in reporting the news and not to be swayed by reports that do not… Read more

30.9% of the Kingdom's high-net-worth individuals' investment assets are in real estate... and $95 billion is invested abroad

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Reading time: 2 MinutesReal estate accounted for the largest share of Saudi high-net-worth individuals’ investment assets in 2014, at 30.91% of total assets, while business income accounted for 22.3%, equities for 19.1 percent, cash and deposit investments 13.5 percent, alternative assets 11.9 percent, and fixed income 2.2 percent. A recent study conducted by the British research firm Wealth Insight confirmed that the number of those who acquired their wealth … Read more

“Maskan Arabia launches the SAR 300 million Al Qasba residential project

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Reading time: < 1 MinuteMaskan Al-Arabiya for Real Estate Investment and Development has launched the ”Al-Qasbah Residential” project, with a total value of 300 million riyals. Inspired by the Casbah district in Spain, the project is being built on an area of approximately 30,000 square meters in the Hatin «Al-Thaghr» neighborhood of Riyadh, which is known for its vibrancy and proximity to services and commercial markets. The project consists of 47 villas ranging in size from … Read more

Ministry of Commerce: Off-plan sales total 320 million riyals over three months

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Reading time: < 1 MinuteThe Ministry of Commerce and Industry confirmed that the number of projects under its supervision exceeds 18,000 real estate units across various regions of the Kingdom, with an estimated value of more than 20 billion riyals, ranging from villas, apartments, office units, commercial units, and land developments. In a statement, the Ministry noted that it continues its supervisory duties in monitoring the projects and has conducted approximately 60 inspection tours that included … Read more

Housing Minister Renews Call on the Engineers Association to Help Solve the Housing Crisis

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Reading time: < 1 Minute  His Excellency Majid bin Abdullah Al-Hogail, Minister of Housing, renewed his call to the Saudi Council of Engineers to submit proposals and observations that would contribute to the development and advancement of the housing sector and help overcome various obstacles. Al-Hogail noted that cooperation between the two parties yields many positive results. This came during his meeting yesterday with the president and members of the Society of Saudi Engineers at the Ministry’s headquarters, … Read more

Saudis close 999 real estate deals in Dubai worth 3.2 billion dirhams

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Reading time: < 1 Minute  During the first half of this year, Saudis completed 999 real estate transactions worth 3.2 billion dirhams, ranking fifth, while Emiratis ranked first with 11.5 billion dirhams from 2,130 transactions, followed by Indians with 7.8 billion dirhams, British nationals with 4.7 billion dirhams, and Pakistanis with 3.3 billion dirhams. The Department of Land and Property in … Read more

100-meter beach buffer to boost tourism in coastal cities

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Reading time: 2 MinutesThe Cabinet’s decision to establish a set of measures requiring that every beach have a 100-meter-wide public access zone, where no leasing or construction of facilities is permitted, has garnered widespread attention among those interested in domestic tourism, who explain that this decision will support the growth of tourism, and that its impact will be indirectly reflected in the growth of small tourism projects on the beaches… Read more

Offering integrated and diversified solutions. China International Petrochemical Exhibition kicks off on August 26

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Reading time: 2 MinutesThe 2015 China International Oil and Petrochemical Technology and Equipment Exhibition is scheduled to take place in Shanghai from August 26 to 28, 2015, organized by Beijing Zhihui Exhibition Co., Ltd., at the Shanghai New International Expo Center from August 26 to 28, 2015. The exhibition will present integrated solutions covering a wide range of fields, including energy, healthcare, and home… Read more

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