Month: August 2015

The UAE real estate market has generated 111 billion dirhams since the beginning of the year

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Reading time: < 1 MinuteAbu Dhabi, Dubai, and Sharjah led the way in new real estate projects in the United Arab Emirates. These 26 new projects represent a continuation of the trend seen in the UAE since developers launched a wide range of projects following the market’s recovery. The total value of real estate projects launched since the beginning of this year has exceeded 111 billion dirhams, surpassing the total value of projects that … Read more

Leading developers and architects are competing for the top honors at the Cityscape Emerging Markets Awards

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Reading time: 3 Minutes  Thirty-seven leading real estate projects from 15 different countries have qualified for the final round of voting for the Cityscape Emerging Markets Awards, which will be held in Dubai next month, awards that attract widespread regional and global attention for highlighting elite real estate projects and honoring the sector’s leaders. The winners will be announced in the 13 categories of the Cityscape Emerging Markets Awards, which focus on … Read more

King Abdullah Economic City Develops Housing for Workers at a Cost of 150 Million Riyals

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Reading time: < 1 MinuteWith an investment value of 150 million riyals, construction and development work has begun in King Abdullah Economic City on the largest residential complex for workers, which spans an area of approximately 104,000 square meters and has a capacity for more than 4,000 workers. Under the project, “Namarq Al-Arabiya Services Limited” is implementing the project in two phases, the first of which is scheduled to be completed in 2016. It is expected that … Read more

Ministry of Justice: Value of real estate transactions over 10 months reaches 317.8 billion riyals

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Residential Real Estate - Request Inquiry - Ministry of Justice

Reading time: < 1 MinuteA report issued by the Ministry of Justice stated that the value of real estate transactions completed from the beginning of 1436 AH through the end of Shawwal reached 317.8 billion riyals, a decrease of 17% compared to the same period last year. The report can be summarized as follows: 1. The value of residential real estate transactions in the first 10 months of 1436 AH amounted to approximately 211.8 billion riyals … Read more

“Emaar Economic City develops and operates four berths at King Abdullah Port with a length of 1470 meters

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Reading time: < 1 MinuteEmaar Economic City today released a report highlighting its key achievements during the second quarter of 2015, particularly in the areas of infrastructure, facilities, the industrial park, and support services. The report indicated that by the end of the second quarter of 2015, the number of companies contracted in the Industrial Valley had reached 92, including both national and international firms, and production had begun at 10 factories … Read more

“Amlak” reports confirm that Riyadh will see a major real estate deal in the next few hours

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Reading time: < 1 MinuteAccording to a report by the “Amlak Real Estate” newspaper, the city of Riyadh is set to witness a major real estate deal to be announced in the coming hours by a real estate alliance consisting of Inaba Real Estate Marketing and Zamil Mohammed Al-Zamil Holding Company, as part of the ”Masharef Hills” in Riyadh. Sources at “Amlak” added that the deal will involve the construction of a large number of villas, as part of a partnership and alliance that will yield significant gains … Read more

Following “Hatin and Al-Safwa” … “The Real Estate Committee” Offers Land for Sale in the Al-Yasmin Neighborhood in Northern Riyadh

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Reading time: < 1 MinuteFollowing the successful auction of the Hatin and Al-Safwa developments in Riyadh, the Real Estate Contributions Committee at the Ministry of Commerce and Industry decided to offer four plots of land in the Al-Yasmin neighborhood in northern Riyadh for direct sale and to begin accepting purchase offers, with Sunday, 29 /11, 1436 AH, as the deadline for submitting bids. In addition, the Real Estate Contributions Committee at the Ministry of Commerce and Industry has begun disbursing what … Read more

The Union of Arab Banks Denies Reports of Gulf Investors Withdrawing from the Lebanese Real Estate Market

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Reading time: < 1 Minute  Wissam Fattouh, Secretary-General of the Union of Arab Banks, attributed the sale of real estate in Lebanon by some Gulf nationals to individual decisions, denying that there is any Saudi or Gulf-wide trend to sell their properties in Lebanon and withdraw from the Lebanese market, emphasizing that what is currently happening is individual behavior rather than a collective trend. Fattouh explained that there are no figures … Read more

Real estate investment in the region is expected to reach $15 billion due to the decline in oil prices

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Reading time: < 1 Minute  Observers predict that the amount of capital flowing from the Middle East into direct real estate investment will reach $15 billion annually in the near term. This is due to falling oil prices and radical shifts in global economic strategies. A report released by the global real estate consulting firm CBRE noted the expansion of the base of Middle Eastern investors, driven by the decline in prices… Read more

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