Month: October 2015

To boost the real estate and housing sector. Study of urban development priorities for 531 cities in the Kingdom

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Reading time: 2 MinutesThe Ministry of Municipal and Rural Affairs has prepared a study on urban development priorities for 531 cities across all regions of the Kingdom, with the aim of standardizing the reporting cycle for information related to urban development nationwide across all cities, to utilize the results of these studies when formulating five-year plans, and to establish the necessary mechanisms to monitor the implementation of the Urban Development Priorities Program for Saudi cities regarding public services and facilities, thereby achieving the development objectives… Read more

Aisha Al-Murshid and Hajj Rahim Al-Turkistani are living examples of the growth and development of real estate endowments under the management of the Gulf Endowment Center.

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Reading time: 2 MinutesThe Gulf Waqf Center for Waqf Consulting (Waqfi) is one of the strategic entities dedicated to promoting a culture of waqf within society, driven by its desire to partner with waqf donors and contribute to the well-being of society through waqfs established in accordance with standards that ensure sustainability and fulfill the developmental role of waqfs in society. The «Waqfi» Center has benefited from the expertise and experience of its qualified staff in the management and development of waqfs… Read more

Bank Al Jazira's profits rise by 1,253% in Q3 2015

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Reading time: < 1 MinuteAl-Jazira Bank reported a 253 % increase in its net profit for the third quarter of 2015 compared to the third quarter of the previous year, with net profit reaching 166 million riyals, compared to 47 million Saudi riyals for the third quarter of 2014. This translates to a 202% increase for the first nine months of this year, with net … Read more

Jabal Omar project secures 900 million riyals in Islamic financing

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Reading time: < 1 MinuteJabal Omar Development Company announced that it has secured an Islamic financing facility from Al-Bilad Bank in the amount of 900 million riyals. The six-month agreement was signed to settle the company’s obligations, and there are no collateral requirements for this facility. The Jabal Omar project is one of several development projects currently underway in Makkah and consists of 38 towers ranging in height from … Read more

Ministry of Justice : The value of real estate transactions for the year 1436 AH is about 366.7 billion riyals, a decrease of 16%

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Reading time: < 1 MinuteThe value of real estate transactions completed during the year 1436 AH reached approximately 366.7 billion riyals, marking a 16 % decline compared to the year 1435, marking the first decline since the year 1430 AH. Every month of the past year saw a decrease in the value of real estate transactions compared to the previous year, with the exception of the months of Safar and Rajab, which rose by 6% and 17%, respectively. The month of Jumada al-Thani was … Read more

Sheikh Zayed Housing Program: First program to unveil revolutionary technology in real estate

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Reading time: 2 MinutesThe Middle East has become a global hub for luxury real estate, with a significant number of real estate development companies offering off-plan sales to international buyers. With its impressive plans for Expo 2020, the United Arab Emirates is expected to dominate the field of architecture, surpassing established global design standards. This requires real estate standards to be aligned with architecture… Read more

Urban development needs under one roof. Saudi Build 2105 is a major boost for construction projects

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Reading time: < 1 MinuteOn the sidelines of the Saudi Construction Expo 2105, currently being held at the Riyadh Exhibition and Convention Center, Nidal Al-Ghamdi, Director of Public Relations at Riyadh Exhibitions Co., Ltd., the exhibition’s organizer, predicted that the infrastructure development projects currently underway will help drive growth in the construction sector over the next few years. He also expressed his delight at the high turnout this year’s event has seen among industry professionals … Read more

On its second day ... Saudi Construction Expo is a huge success, with visitor numbers exceeding expectations and clogging the roads

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Reading time: < 1 MinuteThe Saudi Construction Expo, the 27th International Exhibition for Construction Technologies and Materials, achieved resounding success on its second day yesterday, Tuesday, attracting thousands of visitors, businesspeople, contractors, and real estate professionals who filled the exhibition halls to capacity, especially during peak hours after Maghrib prayer, when all designated parking lots inside the exhibition grounds and the adjacent lots outside were filled to capacity, causing traffic congestion outside the main gate, … Read more

Eastern Restax exhibitors await white fees. The Ministry of Commerce has weakened GCC exhibitors

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Reading time: < 1 MinuteThe “Ristax Al-Sharqia 2105” exhibition continued its presentations yesterday, Tuesday, during the evening session, drawing a large turnout of visitors and interested parties looking to take advantage of the services offered by real estate developers, contractors, and companies exhibiting construction and building services, Meanwhile, specialized real estate financing companies and banks offered opportunities with special benefits that caught the attention of attendees, particularly since the offers included options such as no salary transfer, as with the bank… Read more

Saudi Build 2015 kicks off yesterday evening with eyes on SAR 3 trillion worth of projects

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Reading time: < 1 MinuteHis Excellency the Mayor of Riyadh, Engineer Ibrahim bin Muhammad Al-Sultan, inaugurated the 27th International Exhibition for Construction Technologies and Materials (Saudi Construction Expo 2015) yesterday evening, Monday, During the opening ceremony, Al-Sultan emphasized that the Saudi market is attractive to investors due to the significant development boom it is experiencing, with the total value of projects exceeding 3 trillion riyals, of which … Read more

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