”Al Othaim Investment and Real Estate Development completes the sale of local sukuk worth one billion riyals

Reading time: < 1 Minute  Abdullah Al Othaim Real Estate Investment and Development Company (AAO) this week successfully completed the company's first private placement of a Shari'ah-compliant, Saudi Riyal-denominated local Sukuk with a total nominal value of SAR 1 billion. The issuance was managed by Saudi Fransi Capital, Al Ahli Capital and GIB Capital, and was oversubscribed by Saudi Fransi Capital, Al Ahli Capital and GIB... Read more

“SABB wins two awards for Best Bank in Customer Service and Online Business in Saudi Arabia

Reading time: < 1 Minute  Saudi British Bank (SABB) was recently awarded the Best Online Customer Service Bank in the Kingdom of Saudi Arabia for 2015 and the Best Corporate and Institutional Internet Bank in the Kingdom of Saudi Arabia for 2015 by Global Finance Magazine. SABB was selected for these two awards by a panel of international judges based on a set of criteria that ... Read more

Makkah's Emir and Minister of Housing form committee to follow up on ministry projects in all governorates

Reading time: < 1 MinuteThe Emir of Makkah, HRH Prince Khalid Al-Faisal, and Housing Minister Majid Al-Haqeel agreed to form a supervisory committee to support and follow up the implementation of housing projects in the region, represented by the Emir of Makkah and the Minister of Housing, and to form an executive committee that includes the governors of Makkah, Jeddah and Taif governorates, the Makkah Development Assistance Agency, the National Development Integration Center, as well as ... Read more

“Al Raj and Bissell Properties develop the world's tallest open-air mall at a cost of SAR 1.2 billion

Reading time: 2 MinutesSaudi Arabia's Al Raj and Bissell Real Estate have announced the construction of the tallest open-air complex that will include shopping malls, commercial and administrative offices, and restaurants at a cost of 320 million dollars (SAR 1.2 billion), with construction to begin in early 2016. The project, dubbed The Riyadh Walk, will be built on an area of 13.7 hectares (137 ... Read more

During the National Forum. Prince Turki bin Saud reveals a program to activate the activity of businesswomen

Reading time: < 1 MinuteHis Highness Prince Dr. Turki bin Saud bin Mohammed Al Saud, President of King Abdulaziz City for Science and Technology, revealed the role of entrepreneurship and innovation in women's investments, where he explained that the number of Saudi women innovators who participated in the local innovation data through ... Read more

Nujoom Al Salam Holding celebrates 25 years of achievement in real estate development

In the presence of Mr. Sulaiman Al-Osaimi, Editor-in-Chief of Al-Riyadh newspaper, Mr. Abdulaziz Al-Essa, Editor-in-Chief of Amlak newspaper, Mr. Umair Al-Fahda, Director of Development at the newspaper, and a number of media professionals, journalists, athletes and community figures, Stars of Peace Holding Company organized an exceptional celebration held at Al-Masa Rest House in Rimal district in Riyadh, on the occasion of the company's silver jubilee and 25 years of achievement.

During the celebration, Mr. Nasser bin Qashaan Al-Qahtani, Executive Director, spoke on behalf of the company, which was founded by Dr. Jarallah Al-Oudaib, Chairman of the Board of Directors, in 1413 AH, about its great and tangible achievements in the field of real estate investment and development, and crowned during its journey that lasted for nearly a quarter of a century with many awards, medals and certificates of appreciation, and Al-Qahtani appreciated the participation of the media and sportsmen in this celebration, wishing them success.

On behalf of the attendees, journalist Sulaiman Al-Salem spoke, thanking the company and its leaders, praising its efforts in achieving its goals in the real estate market, and noting the company's role in achieving social responsibility, noting the keen vision of the captain of its ship, Dr. Abdullah Al-Oudaib, who dedicated his thought and life selflessly until he achieved the success that we see now.

For his part, Dr. Al-Obayeb revealed during the tour that accompanied the attendees to his museum a group of cars dating back to before 1929 AD, which won a number of Arab awards for being one of the oldest usable cars until now, in addition to a large number of valuable collectibles and artifacts, some of which date back to 800 years ago.

At the end of the ceremony, Dr. Abdullah Al-Oudaib honored the media and athletes with shields and souvenirs, thanking them for their attendance and invitation. It is worth mentioning that «Stars of Peace Holding» has expanded its investments in the UAE, Bahrain, Egypt, and has business in most cities of the Kingdom such as Riyadh, Jeddah, Mecca, Qassim, and Zulfi.

National Businesswomen's Forum calls for more facilities for women's organizations

Reading time: < 1 Minute Discussants and speakers at the National Forum for Businesswomen, organized by the Council of Saudi Chambers at the Four Seasons Hotel in Riyadh, called on the competent authorities to put more facilities for women's establishments, review and develop procedures, and stressed the role of the committees of the Chambers of Commerce in communicating with government agencies and lobbying for the interests of businessmen and women and raising their issues and seeking to solve them. This came during the second session ... Read more

Today is the deadline for banks and financial institutions to submit their offers and bids for the accelerated loan

Real Estate Development Fund

Reading time: < 1 MinuteThe meeting that took place between the Real Estate Fund management and Saudi banks last week led to some amendments in the offers and bids submitted by the banks regarding financing in the accelerated loan program, and extended the application period until the end of the day on Thursday, and the number of financial institutions entering the accelerated loan program is estimated at about 14 establishments, while the number of citizens ... Read more

Management and issuance of visas for SMEs officially falls to the Ministry of Commerce

Reading time: < 1 MinuteSources revealed that the Cabinet is currently preparing the regulations of the General Authority for Small and Medium Enterprises (SMEs) in the Cabinet's Expert Council, and the regulations are expected to be issued soon, as all financing and support agencies will be linked to the SMEs Authority. The Ministry of Commerce and Industry has already decided the authority's reference to be affiliated with its departments. The SME Authority will be responsible for studying the activity and capacity of the enterprise and assessing ... Read more

Ministry of Commerce extends customs exemption for industrial enterprises by 12 months

Reading time: < 1 Minute  The Ministry of Commerce and Industry (MCI) has agreed to amend the duration of customs exemptions for industrial establishments by extending the period from 6 months to 12 months, in order to facilitate the procedures of industrial establishment owners and reduce the number of requests received by the Customs Exemption Review Committee to amend the duration, in coordination and cooperation with the General Customs Authority (GCA). The rules for requesting ... Read more