Month: November 2015

The beginning is here. Saleh bin Farhan Al-Hariri

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Reading time: 2 MinutesThis is where we come together and discuss how to cultivate positivity within ourselves. This does not mean being overly positive; some believe that a positive mindset cannot be tinged with negativity or feelings of discouragement. However, what can be summarized is that a positive person is one who is able towith themselves and then give every opportunity its due. That is why we begin by experiencing different feelings toward ourselves… Read more

Incentive decisions imminent More than 72 countries and representatives of international companies review the Kingdom's investment incentives

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Reading time: 2 MinutesWith more than 72 countries and representatives from major global companies in attendance, the Global Innovation Summit and the Federation of Competitiveness Councils meeting recently opened in King Abdullah Economic City, drawing significant attention from local and international investors eager to learn about the latest developments in the Saudi economy and the incentives the government offers to local and foreign investors. Five government agencies support the investment environment, and through the opening… Read more

In the forum of development projects in Sharqiya ... 664 billion riyals for transportation, communications, municipal and housing development

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Reading time: 2 MinutesThe forum titled «Development Projects… Reality and Aspirations,« organized by the Emirate of the Eastern Province and the Eastern Province Chamber of Commerce, at the Chamber’s headquarters in Dammam and recently inaugurated by His Royal Highness Prince Saud bin Nayef bin Abdulaziz, Governor of the Eastern Province, discussed the reality and future of investment projects and how to address stalled projects and develop urgent solutions for them.. Investment projects, and the Chairman of the Board of Directors… Read more

“Restax Sharqiya 2015” Investment and real estate projects that have made the region the center of attention

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Reading time: 5 MinutesFollow-up: By Mohammed Al-Amin Jamous With great success and an outstanding response from participating entities and visitors, the Eastern Province Real Estate, Housing, and Urban Development Exhibition, «Restatex Eastern Province 2015,» after a four-day run from October 26 to 29, with more than 36 specialized real estate companies, government agencies, banks, and leading finance companies participating, and the booths filling the entire exhibition halls … Read more

Amlak newspaper lists the most important points of the new Companies Law

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Reading time: 2 MinutesDr. Fahad Abu Haimed, Undersecretary for Regulations and Legislation, outlined a number of principles and concepts embodied in the new Companies Law that are in line with international best practices, aimed at bringing about a qualitative leap in the commercial and investment sectors. He summarized the most important points of the law as follows: – Contributing to the establishment of sustainable economic entities that possess the foundations of institutional governance, thereby… Read more

Minister of Commerce: New Companies Law will reduce the cost of procedures and encourage entrepreneurship

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Reading time: < 1 Minute  Dr. Tawfiq bin Fawzan Al-Rabiah, Minister of Commerce and Industry, affirmed that the new Companies Law is one of the most significant economic development regulations issued by the state to provide a regulatory environment that fosters and stimulates initiative and investment, with the aim of enhancing the value of companies, developing their activities, and contributing to the national economy. He noted that the new system will reduce procedural costs and encourage initiative in commercial activity, thereby … Read more

Al Wabel finalizes the sale of the Al Munsiyah scheme in East Riyadh with total sales of SAR 410 million

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Reading time: < 1 MinuteThe selling prices for residential units in the Al-Munsiyah Project No. 3255, located north of the Al-Fahs exit, which were sold at a public auction on Monday, ranged from 1,500 to 1,600 riyals per square meter, while the selling price for commercial plots ranged from 2,000 to 3,500 riyals per square meter, and total sales for the project amounted to approximately 410 million riyals. Al-Wabel Company said … Read more

Saudi businessmen own 188 private jets, UAE 135

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Reading time: < 1 MinuteSaudi Arabia topped the list of the largest business jet fleets in the Middle East, with 188 aircraft, accounting for 24.1% of the region’s total fleet of medium- and large-sized aircraft, while the UAE ranked second after the Kingdom in terms of business owners’ private aircraft ownership, with approximately 135 aircraft. Gama Aviation, a company specializing in private aviation services, reported that approximately … Read more

Financing hotel and tourism projects: Loan 50% of the project cost. The maximum limit is 100 million riyals

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Reading time: < 1 Minute  Dr. Hamad Al-Samaail, Deputy President of the General Authority for Tourism and National Heritage for Investment and Tourism Development, confirmed that the maximum loan amount—covering buildings, equipment, and furniture—is equivalent to 50% of the estimated cost approved by the Ministry of Finance for the entire project, and shall not exceed 100,000,000 riyals, and that repayment of the loan begins four years after the date of the loan agreement, to be paid in ten … Read more

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