Month: March 2016

“Nayef Al Rajhi launches RM600 million, 150-meter-high Ramla Tower

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Reading time: < 1 MinuteWith an investment of 600 million riyals, Nayef Al-Rajhi Investment Company launched the Ramla Tower project during a ceremony held at the Prince Sultan Ballroom at the Al Faisaliah Hotel. The tower stands 150 meters tall and is located on King Fahd Road north of the Financial District. The project is expected to be completed in the third quarter of 2018. The announcement of the project at this specific time is intended to confirm … Read more

Having launched its new brand identity, ”Warf Real Estate” is marketing “Rama Villas” in northern Riyadh and the NLOGO project in Istanbul

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Reading time: < 1 MinuteWarf Real Estate has announced partnerships with leading residential and commercial developers in the UK, Germany, Spain, and the United States, with plans to offer clients a range of premium projects starting in the second half of 2016. Regarding local projects, Engineer Sami Al-Hammad, CEO of Warf, stated that the company is currently marketing the “Rama Villas” project in northern Riyadh in the Dana Al-Yasmin neighborhood, … Read more

Under the auspices of the Ministry of Health, Riyadh will host the Saudi Health Expo on May 16

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Reading time: < 1 Minute  Under the patronage of the Ministry of Health, Riyadh Exhibitions Company Limited has completed its preparations for the launch of the Saudi Health Exhibition, which will take place from May 16 to May 18, 2016, in the capital city of Riyadh. The exhibition serves as a platform for decision-makers, government officials, and investors to meet with a select group of local and regional partners and exhibitors who are leaders in the medical, health, and food sectors, and is considered a great opportunity to reach agreements and close deals … Read more

Jubail Manufacturing Forum kicks off on March 8 with 55 local and international participants   

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Reading time: < 1 MinuteWith the participation of 55 local and international exhibitors, the 4th Manufacturing Industry Forum will kick off next Tuesday in Jubail Industrial City, The forum will run for three days under the sponsorship of a number of companies, including SABIC as the main sponsor, Sadara as the strategic sponsor, and Saudi Aramco as a Platinum Sponsor, in addition to Bronze Sponsors SATORP, Total, Murafiq, and the Natural Gas Distribution Company… Read more

Al Ahli Bank to inject SAR 130 billion in corporate finance in 2015

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Reading time: < 1 MinuteMansour Al-Mayman, Chairman of the Board of Directors of Al-Ahli Bank, revealed the bank’s commitment to supporting and financing large, medium, and small enterprises, recognizing the importance of these companies in economic development. He noted that the total volume of financing provided by the bank to the corporate sector in 2015 is estimated at approximately 130 billion riyals, an increase of 241% over the previous year.  This came during the bank’s participation … Read more

The Civil Aviation Authority grants the Ministry of Housing spaces inside airports under the ”Aviation and Housing” program.

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Reading time: 2 MinutesThe General Authority of Civil Aviation announced that it will provide residential land within airport boundaries to the Ministry of Housing, thereby contributing to the provision of housing products and units that serve all citizens. This announcement came during the signing today, Thursday, in Riyadh, of a memorandum of cooperation between His Excellency the Minister of Housing, Mr. Majid bin Abdullah Al-Hogail, and the General Authority of Civil Aviation, which stipulates joint cooperation between the two parties … Read more

Experts ask: Can the real estate market bear the liquidation of Saleh Al Rajhi's properties at this time?

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Reading time: < 1 Minute  It was recently reported in the news that the estate and assets of Sheikh Saleh bin Abdulaziz Al Rajhi—may God have mercy on him—are to be liquidated. Sheikh Saleh is considered one of the largest owners of real estate of all types in the Kingdom. The announcement of the liquidation comes at a time when the real estate market is experiencing a number of economic and regulatory changes, causing it to remain in a state of flux, with uncertainty dominating the situation, which has led to… Read more

Real Estate Contributions offer a number of commercial and residential plots in the Mahasen scheme in Al-Ahsa today

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Reading time: < 1 MinuteAs part of the policy of the Ministry of Commerce, represented by the Real Estate Contributions Committee, aimed at expediting the recovery of shareholders’ funds as quickly as possible and with the best possible return, the Committee is organizing a public auction this evening for a number of commercial and residential lots and facilities in the Mahasen development in the northwestern part of Al-Ahsa Governorate. The Committee has set a number of conditions for participating in the auction, including personal attendance or representation by … Read more

Private-sector companies have provided the Ministry of Housing with more than 56,000 housing units

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Reading time: < 1 MinuteAs part of its partnership with the private sector, the Ministry of Housing today signed cooperation agreements with 11 national real estate development companies to build more than 56,000 housing units for those eligible for housing support on private land, covering the regions of Riyadh, Makkah, Eastern Province, Hail, and Tabuk. According to a statement from the Ministry of Housing, the Makkah region received the highest number of housing units, totaling 42,183 units … Read more

Will the housing finance market regain its luster after the introduction of the 15% down payment instead of 30%?

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Reading time: < 1 Minute  Over the past two days, news reports have highlighted the Saudi Arabian Monetary Authority’s finalization of measures regarding the “Convenient Mortgage” program for residential real estate financing for a specific category of citizens, in collaboration with the Ministry of Finance and the Ministry of Housing. The key features of the decision are as follows: 1- The beneficiary must provide a down payment of 15% of the value of the residential property. 2- Commercial banks wishing to finance the property will pay 70% … Read more

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