Month: September 2015

President of Eastern Real Estate calls for reconsideration of the 30% ratio due to its negative impact on the market

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Reading time: 2 MinutesReal estate specialists confirmed that the decision to pay the citizen borrower 30% of the value of the mortgage loan contributed significantly to the stagnation of the real estate market, as citizens are reluctant to buy because they do not have the financial means to cover this percentage, as the percentage of those able to buy in this way decreased by up to 40% compared to what it was before the implementation of this decision. The 30% decision affected ... Read more

Dubai Land Department dedicates a luxury car to deal with women in their homes

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Reading time: < 1 MinuteIn line with DLD's policy of facilitating its services to its customers, it has launched the “Maharah Service” exclusively for women to accomplish their various transactions easily and conveniently and help save time and effort for female customers. One of the most important features of the new service is that it will provide a luxury car that arrives at your doorstep. The service will be augmented with a direct line and a dedicated number. Read more

Riyadh first, the Ministry of Housing begins merging its branches with the Real Estate Fund in the Kingdom's major cities

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Reading time: < 1 MinuteThe Ministry of Housing has started merging its branches in major cities with branches of the Real Estate Development Fund, to benefit from the Fund's experience in distributing loans, dealing directly with beneficiaries, and finalizing their applications. The move, which has already begun in Riyadh, comes as part of the ministry's restructuring in preparation for a new phase of work in activating its role in serving citizens and enabling them to live in housing. The ministry attributes this ... Read more

UK house prices hit record highs

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Reading time: < 1 MinuteA surge in demand for homes in the UK saw prices hit an all-time high in September, reflecting a continuing shortage of property sales and increased demand from wealthy buyers. A report by Rightmove Plc said on Monday that house prices in the capital London increased by 2.2 percent in ... Read more

Saudi economy ranks fifth in the world in the ratio of national savings to GDP

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Reading time: 2 Minutes  The Saudi economy has jumped to advanced stages of growth in recent years following the increase in the price of a barrel of oil, and increases in the volume of domestic production, which raised the efficiency of development performance by increasing the number of strategic investment projects, and these indicators were reflected in the improvement and progress of the Kingdom's ranking in the list of countries' economies and the impact of this on the level of per capita income. The total volume of national savings reported ... Read more

Housing Ministry seeks to acquire land to support private sector partnerships

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Reading time: < 1 Minute The Ministry of Housing revealed its intention to expand by acquiring more land to implement its new vision, which focuses on bridging cooperation with the private sector and accelerating citizens' access to housing, and press sources confirmed that the ministry is proceeding with the implementation of its vision after presenting it to the Economic and Development Council, in preparation for implementation according to its future plans. An official source at the Ministry of ... Read more

Zamil plans to build Egypt's largest logistics zone

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Reading time: < 1 MinuteEgypt's Minister of Supply Khaled Hanafy announced on Monday that Saudi Arabia's Zamil Industrial Company plans to establish the largest logistics zone in Nag Hammadi in Qena Governorate, where the project will be built on an area of 80 square kilometers, and the logistics zone will be located northwest of Luxor Governorate. The logistics zone will be built on an area of 50 acres and will have the capacity to store ... Read more

Dubai ranks among the world's most expensive cities for housing

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Reading time: 2 MinutesDubai's housing costs are among the highest in the world compared to other major cities, according to a new study. UBS recently released the 16th edition of its Price and Earnings Study, which shows the prices, salaries and purchasing power of workers in 71 cities around the world. Dubai's average rents are among the 16th most expensive in the world. Read more

In the forefront of cities ... Real estate transactions in Jeddah jumped to 21 billion during the third quarter of 2015

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Reading time: 2 MinutesThe value of real estate transactions recorded in Jeddah during the third quarter of this year amounted to about SAR 21 billion, compared to SAR 11 billion in the second quarter of 2015, a ratio of 100%. This indicates the growth of the real estate movement significantly, which led to the city topping the value of real estate deals recorded on the volume of activity in Saudi Arabia for the quarter ... Read more

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