Month: September 2015

She emphasized her adherence to the decision. The Monetary Authority reveals the reasons why the citizen must pay 30% of the value of the property

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Reading time: 2 MinutesThe Awareness and Media Secretariat of Saudi Banks confirmed that banks are required to implement the 70% loan system and do not have the authority to amend or undermine the decision. Talaat Hafez, Secretary of Awareness, said that the decision is mandatory from the Saudi Arabian Monetary Authority (SAMA) and must be implemented in accordance with the applicable regulations. The Saudi Arabian Monetary Authority had previously rejected certain accusations made by investors … Read more

The “Shubra Palace” Museum in Taif showcases Islamic history and celebrates the unification of the Kingdom

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Reading time: < 1 MinuteThe Shubra Historical Palace Museum in Taif Province showcased key periods of ancient and modern history, opening its doors to local residents and tourists during the Eid al-Adha holiday. The evening hours from 5:00 p.m. to 8:00 p.m. saw a heavy turnout of visitors, while attendance during the morning hours from 9:00 a.m. to 12:00 p.m. was lighter. The exhibition featured three … Read more

To promote domestic tourism ... “Homeland and History” events and exhibitions spread the scent of beauty in Taif's nights

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Reading time: < 1 MinuteNational events and tourism programs in Taif attracted large crowds of citizens, tourists, and local residents, as a vast gathering representing all segments of society attended the «Sky» programs and the “Homeland and History” exhibition, held in collaboration with the King Abdulaziz Foundation and the Saudi Press Agency, on the occasion of the Kingdom’s 85th National Day. The exhibition featured numerous film clips and rare photographs of Saudi kings and statesmen, … Read more

The real estate sector in the UAE loses more than $272 million annually due to duplicate listings

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Reading time: < 1 MinuteEvery year, at least $272 million (1 billion dirhams) is lost in the UAE’s online real estate market due to duplicate listings. Daniel Hart, CEO of Masterkey Property Management in the UAE, said the problem is a major concern in the industry. Daniel added, “It’s a big problem in our industry, … Read more

Unknown individuals hack into Hilton's data records... The group fears the consequences of credit card theft  

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Reading time: < 1 Minute  Hilton Worldwide Holdings plans to investigate allegations that hackers accessed data records at gift shops and restaurants in a large number of Hilton hotels across the United States. Blogger Brian Krebs, an internet security expert, said in a blog post on Friday that Visa had sent confidential warnings to financial institutions about breaches at the company … Read more

After the collapse of the real estate market. Ireland plans to link housing rents to inflation

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Reading time: < 1 Minute  Ireland’s housing crisis has cast a shadow over the local economy following the collapse of the real estate sector, dealing a severe blow to the construction industry, causing the pace of housing construction to drop to levels not seen since the early 1970s. In addition, media sources indicate that Ireland intends to enact legislation linking housing rents to the inflation rate with the aim of … Read more

Observers and real estate experts: “Demolitions” have not affected the capacity of the hotel sector around the Grand Mosque  

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Reading time: 2 MinutesIn line with the expansion currently underway at the Grand Mosque, real estate investors expect the number of hotel rooms in the Holy City to exceed 160,000 by the end of this year (2015), noting that the room occupancy rate on regular days reaches 65%, rising to over 95% during peak seasons. Sources report that this year’s pilgrims occupied … Read more

“Tourism Authority: This year's pilgrims occupied more than 155,000 hotel rooms in Makkah

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Reading time: < 1 MinuteThe General Authority for Tourism and National Heritage revealed that more than 800,000 pilgrims occupied over 155,000 rooms in Makkah, an increase of more than 131% compared to last year, The Authority reported that more than 30,000 rooms will be completed over the next two years to help serve pilgrims and visitors to the Sacred House of God, and to provide comfortable lodging and accommodation for the guests of the Most Merciful. The General Authority … Read more

Key Points Regarding Mortgages: The Death of the Mortgagor or Mortgagee Does Not Mean the Case Is Closed

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Reading time: 2 Minutes  A mortgage system is a system that allows for the purchase of real estate through financing from mortgage institutions, with the loan repaid through monthly installments paid over a relatively long period until the principal amount of the loan and the interest (muraabaha) due on it are fully covered. Important points regarding mortgages: The market value of the property in question must cover the full amount of the loan and even exceed it… Read more

Taif Municipality contracts with King Abdulaziz and Taif Universities to address visual distortion in tourism projects        

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Reading time: < 1 MinuteThe Taif Municipality has affirmed its ongoing efforts to address visual distortion in the mountainous environment of the Al-Hada and Al-Shafa tourist hubs, which are among the Kingdom’s most prominent tourist sites, in order to mitigate the clash of colors with the surrounding environment. where visual distortion is a cumulative issue resulting from architectural styles that are disconnected from the local environment and culture. The visual remediation aims to improve the colors of the buildings with … Read more

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