Month: March 2016

Saudization of the sale and maintenance of mobile phones and accessories provides thousands of jobs for Saudi youth

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Reading time: 2 MinutesThe decision by Minister of Labor Dr. Mufarrij bin Saad Al-Haqbani to restrict employment in the fields of sales and maintenance of mobile phones and accessories exclusively to Saudi men and women to reinforce plans and programs for the Saudization of jobs and, consequently, to create thousands of jobs for Saudi men and women. This decision is being implemented in cooperation with the Ministry of Commerce and Industry, the Ministry of Municipal and Rural Affairs, and the Ministry of Communications and Information Technology. … Read more

Real estate prices are expected to continue to rise as demand for housing grows after the implementation of the 85% financing decision

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Reading time: < 1 MinuteA report released this week warned against rendering the subsidized mortgage decision approved by the Saudi Monetary Authority meaningless, arguing that the 85% loan-to-value ratio does not solve the main problem, which is the high prices of residential units that exceed consumers’ affordability. The weekly real estate report published by Al-Mazaya Holding suggested that this decision is likely to drive up prices… Read more

“Easy Mortgage” for residential real estate financing will give the real estate market a boost

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Reading time: 2 MinutesAfter the Saudi Arabian Monetary Authority announced the completion of coordination regarding the «Concessional Mortgage» program for residential real estate financing—for a specific category of citizens—with the Ministry of Finance and the Ministry of Housing, this is expected to inject more activity and vitality into the real estate market, as well as providing a strong boost to financial institutions and banks, which are now permitted to offer residential financing covering 85% of a home’s value … Read more

During the “Fundamentals of Insurance” course Insurance is an important pillar of development, not a procedural act to obtain funding

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Reading time: 2 MinutesInsurance plays an important role in the development of small and medium-sized enterprises, which contribute approximately 33% to Saudi Arabia’s gross domestic product, but at the same time, it faces challenges and obstacles that often lead to its stagnation, failure, and inability to sustain operations and compete. Therefore, experts in the field of entrepreneurship financing have emphasized that improving the managerial efficiency of SME officials and strengthening … Read more

”Retirement”: 3.7 million square meters of land for sale in Riyadh and Jeddah

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Reading time: < 1 MinuteThe Public Pension Agency has announced its intention to put more than 3.7 million square meters of land up for sale in the cities of Riyadh and Jeddah. The Pension Authority explained on its website that the first plot is located on King Fahd Road in the Al-Sahafa neighborhood of Riyadh and covers an area of 30,000 square meters, while the second plot is in Riyadh at Exit 9 of the Eastern Ring Road on Imam … Read more

Family-owned businesses account for 90 % of commercial activities... and are investing in development to compete globally

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Reading time: 2 MinutesA seminar titled «Key Long-Term Success Factors for Saudi Family Businesses» highlighted the economic strength of family businesses in the Kingdom; figures showed that their wealth amounts to approximately 22.5 billion riyals, and their investments in the Saudi market amount to 10% of gross domestic product (GDP) and 40% of non-oil GDP. 62 % of the wealth of family businesses in the Kingdom, and it was explained that … Read more

The Revolution of a Friend: Saleh bin Farhan al-Hariri

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Reading time: < 1 MinuteHe was my friend—and more than that; he was my brother. There was a day when I felt a sense of pride whenever I was called by his name. Between us there was a bond, a pact, stories, and longings. He knew me intimately, and I knew him with all my heart; he entrusted me with his secret, and I entrusted him with the keys to mine. A secret, in his view, is like a well—as the saying goes, “Put your secret in a well!” But the depth of this meaning is superficial… Read more

Real Estate Studies: Mortgage Financing Rates in the Kingdom Are Low Due to an Incomplete Regulatory Framework

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Reading time: 2 MinutesThe latest real estate report on financing and lending for the construction or purchase of property in the Kingdom revealed a significant decline in the ratio of real estate financing to gross domestic product, which stood at 1.5%, placing Saudi Arabia in second-to-last place internationally—according to World Bank data—while the ratio stood at 87% in Australia, 80% in Sweden, and in the United States … Read more

The Largest Construction and Building Event... The "Big Five" Exhibition in Jeddah Attracts More Than 600 Exhibitors

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Reading time: 2 MinutesThe Big 5 exhibition, considered the largest construction and building event, was held in Jeddah from March 7 to 10, It was inaugurated by Jeddah Mayor Hani Abu Ras, with more than 600 exhibitors representing various Saudi, regional, and international companies and institutions. International exhibitors accounted for more than 70% of the total. The latest technologies … Read more

Saudi-Danish business council signs memorandum of understanding to support trade

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Reading time: < 1 MinuteThe Saudi and Danish sides signed a memorandum of understanding to establish a Saudi-Danish Business Council, which will support and strengthen trade relations between the Kingdom and Denmark through the business sectors. The memorandum was signed by Dr. Abdulrahman bin Abdullah Al-Zamil, Chairman of the Council of Saudi Chambers, and Thomas Bostrup, Deputy Director General of the Confederation of Danish Industries, during Prince Frederik Hendrik’s visit … Read more

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