Month: October 2015

It contains 4242 apartments. Ministry of Housing launches off-plan sale of apartments in Jeddah

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Reading time: < 1 MinuteThe Ministry of Housing today opened an exhibition showcasing off-plan residential apartments to be built by real estate developers in the area north of King Abdulaziz International Airport in Jeddah, The exhibition features booths for the five developers participating in the program, showcasing dozens of models and scale models of buildings and residential apartments of various shapes and sizes. The total number of apartments is … Read more

Jabal Omar project in Makkah secures 900 million riyals in Islamic financing

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Reading time: < 1 Minute  Jabal 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

It contains conditions and requirements. Amlak publishes the text of the detailed regulations of the hotel and tourism project financing program

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Reading time: 4 MinutesGiven the need to establish a framework for tourism financing, the General Authority for Tourism and National Heritage worked to establish this program based on the tourism development strategy approved by the state in 1425 AH, which emphasized the need for state intervention to stimulate investment in tourism projects. The resumption of tourism investment financing followed the issuance of Cabinet Decision No. (209) dated 6/22/1430 AH, which stipulated … Read more

Prince Sultan bin Salman: The Tourism and Hospitality Project Financing Program is a qualitative leap for investment in the sector

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Reading time: < 1 MinuteHis Royal Highness Prince Sultan bin Salman bin Abdulaziz, President of the General Authority for Tourism and National Heritage, affirmed the state’s commitment to the tourism sector through investment in it by adopting a financing program for tourism projects and the hotel sector, His Royal Highness considered this program a major step forward for the Authority and expressed his thanks and appreciation to His Excellency the Minister of Finance and ministry officials for their efforts in bringing this program to fruition, which … Read more

Worth 100 million riyals… “Tourism Authority” Begins Accepting Funding Applications from the Tourism and Hotel Sectors

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Reading time: < 1 MinuteThe General Authority for Tourism and National Heritage has begun accepting funding applications from investors in the tourism and hospitality sectors through the Authority’s Investment Department, which receives the applications and forwards them to a team from the Authority and the Ministry for review. The newspaper “Amlak” reports that the funding for the project amounts to 100 million riyals, and that the program covers all tourism facilities and is not limited to … Read more

during the first half of 2015. Foreign investment in Dubai real estate attracts 53 billion dirhams

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Reading time: < 1 MinuteThe Dubai Land Department has revealed its estimates for the volume of foreign investment during the first half of 2015, which exceeded 53 billion UAE dirhams during this period, In a report, the department stated that the inflow of foreign capital into the emirate is conclusive evidence of its attractiveness to foreign investors. Meanwhile, “The H Holding Enterprises” confirmed that this is … Read more

They called for justice ... Members of the Shura Council call for handing over the value of property compensation before it is taken away

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Reading time: < 1 MinuteShura Council member Hamza Al-Sharif called for fairness in the expropriation of citizens’ private real estate, demanding that expropriation take place only after the citizen has received compensation commensurate with the expropriation. Al-Sharif pointed out the need for strict adherence to justice in cases involving the expropriation of certain properties and the necessity for the owner to agree to the appraised value, express consent, or file an objection. During the Council session held yesterday, Monday, the member stated that … Read more

Real estate developers call on the Ministry of Housing to support their plans and facilitate their tasks in partnership   

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Reading time: < 1 MinuteThe real estate sector is eagerly awaiting the first meeting between real estate developers and Housing Minister Majid Al-Hogail tomorrow, Wednesday, to iron out the details and formalize the partnership between the two sides. For their part, a number of developers have expressed their desire to support the Ministry of Housing and establish a partnership that brings both parties together and enjoys the trust of government agencies, followed by the establishment of specific terms and specifications for development projects, in addition to support … Read more

Shura member calls for a committee to investigate expropriated properties, another attacks the Housing Committee

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Reading time: < 1 MinuteDuring yesterday’s session, Shura Council member Khalid Al-Aqil called for the formation of a special committee to investigate the facts and develop a balanced approach that reconciles the protection of citizens’ rights with the interests of the state. This came during the Shura Council’s discussion of the law on the expropriation of real estate for public benefit. Al-Aqil referred to a case investigated by the Anti-Corruption Commission that revealed land plots valued at 10 riyals per meter … Read more

“Liwan Riyadh” launches its business targeting furniture, furnishings and modern home accessories

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Reading time: < 1 MinuteWith the participation of more than 90 national companies and a select group of male and female investors, business owners, and male and female entrepreneurs, the first edition of the “Liwan – Riyadh” exhibition at the Kingdom Hotel in Riyadh, with the participation of more than 90 national companies and a select group of investors and entrepreneurs, as well as male and female business leaders. The exhibition targets the furniture and home furnishings, fashion, and textiles sectors, … Read more

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