Month: September 2015

Ministry of Labor Forms Grievance Committee for Contractors, Goal is responsible for the compensation mechanism

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Reading time: < 1 MinuteDr. Mafraj Al-Haqbani, Minister of Labor, revealed that his ministry has established a grievance committee regarding contractors, so that the contractor can submit his grievance to this committee in case he has a right that he did not get, indicating that the Ministry of Labor is keen to reward establishments that have achieved high rates of Saudization and delivery of services to distinguished establishments, which are visas in the fast track ... Read more

Al-Zamil : Women's deposits in banks amounted to 60 billion riyals and they have 130,000 commercial records

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Reading time: 2 MinutesDr. Abdulrahman Al-Zamil, Chairman of the Council of Chambers, revealed during the opening of the activities of the Second National Forum for Businesswomen at the Four Seasons Hotel, organized by the Council of Saudi Chambers under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz, that the volume of women's deposits in banks is estimated at 60 billion, while the number of commercial records is 130 thousand commercial records. He said that the high percentage of ... Read more

Minister of Commerce calls on the public and private sectors to adopt and nurture entrepreneurship in thought and behavior

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Reading time: 2 MinutesDr. Tawfiq bin Fawzan Al-Rabiah, Minister of Commerce and Industry, called on the public and private sectors to adopt and nurture entrepreneurship in line with the country's efforts to support startups and provide the appropriate investment environment for the country's young men and women to become entrepreneurs who provide job opportunities for themselves and others, as they are an important segment of the future ... Read more

Report: Developing laws and regulations to regulate the real estate market will help curb prices

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Reading time: 3 MinutesThe weekly real estate report of Al Mazaya Holding Company showed that the Saudi real estate market is less willing to impose more restrictions and real estate legislation, especially those related to imposing restrictions on real estate financing ratios, this comes in light of demands from real estate professionals and citizens to reconsider the percentage of 30 % as a down payment of the value of the property by those wishing to ... Read more

Real estate professionals call for the return of real estate contributions and support them with legislation that preserves the rights of all parties

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Residential plot

Reading time: 2 MinutesDuring the second half of the last century, the mechanism of real estate contributions achieved great success in providing housing for citizens, as it helped a large number of citizens to own land and build it, and revitalized the market to a great extent in the movement of buying and selling, and achieved good profits for small investors who generated many benefits for them in a short time. Citizens and real estate companies hope to find ... Read more

Survey - UAE investors expect market growth over the next 12 months

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Reading time: 2 MinutesThe majority of investors in the UAE expect the real estate market to grow over the next year, contrary to analysts“ expectations, according to a survey released by Cityscape Global 2015 organizers in Dubai. More than half of homebuyers (54 percent) have a positive outlook on continued growth in Dubai's real estate market, while ... Read more

Ministry of Commerce announces the adoption of a unified guiding contract for the sale of off-plan real estate units

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Reading time: < 1 Minute  The Ministry of Commerce, represented by the off-plan sales program, announced the adoption of a unified guiding contract for the sale of real estate units on the map, in order to preserve the rights of the real estate developer and the buyer. The contract includes a package of obligations between all parties, such as similar rent, guarantees on concrete and insulation works, electrical and plumbing works and technical defects, and also included preventive and remedial maintenance and restoration works ... Read more

GCC-Turkey Business and Investment Forum and Exhibition kicks off on December 10

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Reading time: < 1 MinuteAs an extension of the growth of economic relations between the Gulf countries and Turkey, the second Gulf-Turkey Business and Investment Forum and Exhibition will be held in Istanbul from December 10 to 12, 2015. The forum, organized by the Federation of GCC Chambers, in cooperation with the Federation of Turkish Chambers and the International Exhibition Group, aims to find new economic partnerships between Gulf and Turkish companies and institutions, ... Read more

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