Month: March 2016

Tourism Authority prepares to establish a number of hotel and tourism projects

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Reading time: < 1 MinuteThe General Authority for Tourism and National Heritage has submitted five hotel projects ready for financing to the Ministry of Finance as part of the hotel and tourism project lending program recently approved by the government, These consist of four- and five-star hotels in Najran, Jazan, Al-Kharj, Tabuk, and Al-Khobar, with construction costs totaling more than 266 million riyals, while the financing loans for these projects are estimated at more than … Read more

Al-Qasabi Appointed Chairman of the Saudi National Building Code Committee

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Reading time: < 1 MinuteThe members of the National Committee for the Saudi Building Code unanimously elected Dr. Saad bin Othman Al-Qasabi, Governor of the Saudi Standards, Metrology and Quality Organization, as the committee’s chair, Engineer Abdulaziz bin Ali Al-Abdulkarim, Deputy Minister of Municipal and Rural Affairs, was also selected as the committee’s vice chair. This took place during the first meeting of the National Committee for the Saudi Building Code following the issuance of Cabinet Decision No. (459) dated … Read more

Summer tourism festivals offer plenty of options during school vacations, and Amlak has the details

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Reading time: 3 Minutes  With the start of the second-semester mid-term break, which began last weekend, 25 festivals and tourism events kicked off in various regions of the Kingdom, The General Authority for Tourism and National Heritage and its regional partners have finalized preparations for these festivals, whose activities range from social, heritage, sports, and entertainment events to cultural activities suitable for all segments of society...» In the following report, «Amlak» highlights one aspect… Read more

Real estate contributions put an end to the stalled Mahasen scheme in Al-Ahsa

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Reading time: < 1 MinuteLast week, the Real Estate Contributions Committee at the Ministry of Commerce and Industry completed the sale of the remaining lots in the Mahasen project, located in Al-Mubarraz in Al-Ahsa Governorate, through an auction organized by the committee. The auction took place in less than three hours at the InterContinental Al-Ahsa Hotel. The committee confirmed that the sale prices of the plots were determined in accordance with the committee’s standard sales procedure, which involves appraising … Read more

Tackling the real estate market and anesthesia Can finance fix what's broken? Abdulaziz Al-Issa

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Reading time: 2 MinutesCan the real estate agent fix what time has ruined? That question popped into my mind as I followed the poll conducted by Amlak newspaper on its Twitter account: “Will the housing finance market regain its luster after the down payment requirement was changed from 30% to 15%?” The results clearly showed that the vast majority were not optimistic about this move, given that an 85% down payment on a bank loan is not enough to revive the market; especially … Read more

The Governor of Najran Region Calls for Expanding Investment and Commercial and Industrial Activity in the Region

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Reading time: < 1 MinuteHis Highness Prince Jalawi bin Abdulaziz bin Musa’ad, Governor of the Najran Region, called for strengthening commercial and industrial activity in the region by expanding investment opportunities through inviting businesspeople and investors from all regions of the Kingdom, opening up investment avenues and creating opportunities for them, as well as providing all necessary facilities and removing any obstacles that might hinder their activities. His Highness said this during a meeting with the Chairman of the Board of Directors of the Chamber of Commerce … Read more

“Tourism Authority launches Saudi Academy for Events and Exhibitions Management

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Reading time: < 1 MinutePrince Sultan bin Salman bin Abdulaziz, President of the General Authority for Tourism and National Heritage and Chairman of the Supervisory Committee of the National Program for Exhibitions and Conferences, announced the launch of the Saudi Academy for Events, Exhibitions, and Conferences Management in September 2016, a closed joint-stock companyheadquartered in Riyadh. The National Program for Exhibitions and Conferences and the National Center for Human Resources Development (Takamul) at the General Authority for Tourism and National Heritage have supported it … Read more

Housing Ministry taps East Asian expertise to build housing

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Reading time: < 1 MinuteThe Ministry of Housing has begun taking serious steps to draw on the expertise of several East Asian countries in the field of real estate development to resolve the housing crisis, by reaching out to real estate developers in three countries in the region.   Well-informed media sources explained that the ministry will discuss solutions to the housing crisis with real estate developers in China, South Korea, and Malaysia, and may agree … Read more

Real estate and businessmen reveal the intriguing story behind the liquidation of Saleh Abdulaziz Al-Rajhi's properties

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Reading time: 3 MinutesReal estate circles are awaiting the actual implementation of the liquidation of Saleh Abdulaziz Al-Rajhi’s estate, following the recent decision by the General Court in Riyadh, which called on interested law firms and accounting firms to apply to join the liquidation board in accordance with the relevant court rulings, in preparation for the auction of the estate (which includes commercial and residential land, as well as other properties). Reports indicate that the Al-Rajhi land holdings … Read more

 The Riyadh Real Estate Forum was launched... Real estate professionals agree on the promising outlook for the real estate market and the strong purchasing power of citizens

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Reading time: 2 Minutes With residential units priced between 500,000 and 1,200,000 riyals, Sheikh Muhammad bin Abdulaziz Al-Tuwaijri inaugurated the Riyadh Real Estate Diwaniya—founded by Engineer Fahd Al-Tuwaijri in northern Riyadh—last Tuesday evening, in the presence of a large gathering of real estate professionals and industry stakeholders, led by Mr. Abdulaziz Al-Issa, editor-in-chief of the real estate newspaper Amlak, as well as Omar Al-Sadhan, Bandar Al-Dhahik, and Muhammad … Read more

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