Month: March 2016

Shura and Cabinet approve allowing real estate finance companies to own property in Makkah and Madinah

by

Reading time: 2 MinutesThe amendments made by the Council of Ministers to Article 5, which pertains to the rules governing real estate ownership and investment by non-Saudis, banks and mortgage finance companies licensed by the Saudi Arabian Monetary Authority (SAMA) from the prohibition on owning real estate in Makkah and Madinah, provided that such ownership is limited to real estate acquired for the purpose of financing Saudi nationals, as well as real estate designated for their headquarters or … Read more

The difference between covering and covering up. Abdulnasser Al-Abdullatif

by

Reading time: 2 MinutesTo «cover» (satar) means to conceal something; to «cover” a Muslim means to conceal his faults and hide his shortcomings. The Prophet, peace be upon him, said: “Whoever covers the faults of a Muslim, Allah will cover his faults on the Day of Resurrection.” Concealment, therefore, is a praiseworthy trait encouraged by our true religion, but unfortunately, it has become rare in our time due to the abundance of scandals that are publicized here and there, and their spread has been facilitated by “social media…” Read more

My esteemed friend. Saleh bin Farhan Al-Hariri

by

Reading time: < 1 MinuteA salute to your radiant, fragrant, and noble self—to your vibrant, strong heart. I know full well that you are eloquent and have mastered the art of speech, using sound language and beautiful meanings, Come with me for a moment so we can break away from the ordinary and speak openly before people and thousands! If you think death frightens you?! Well, for me, it is the inspiring motivation for growth and victory, because time is a sword I have wielded for myself… Read more

Riyad Bank sponsors the 10th Career Day Exhibition

by

Reading time: < 1 MinuteAs a long-standing sponsor of job fairs, Riyad Bank participated in the activities and exhibition of the 10th “Career Day,” organized by the Career and Training Center at the University of Business and Technology last week in Jeddah, in an effort to attract the best young, qualified talent to work in the banking sector and to reaffirm its policy of Saudiization. In addition, Zulfa Abdulkarim, Vice President – … Read more

The Saudi-Korean Business Alliance Launches Its Pilot Project with 100,000 Housing Units in the New City South of Janadriyah  

by

Reading time: < 1 Minute  Project: Construction of 100,000 housing units. Location: Riyadh New Residential City – south of the National Festival of Heritage and Culture “Al-Janadriyah.” Contractors: Two Korean companies (Daewoo and Hanwha) … and the Saudi company SABIC, which operates nationwide. Allocated Budget: 20 billion riyals. With this step, the Ministry of Housing is taking steady and balanced steps toward securing suitable and adequate housing… Read more

Mixed opinions on Shura member's proposal to charge fees for vacant homes

by

Reading time: 3 MinutesA proposal by Shura Council member Dr. Fahd bin Jumaa Al-Qadi to impose fees on residential units (apartments, houses, villas) that are unoccupied, in order to curb rising prices. Reactions have been mixed, as this proposal comes from the Council member approximately four months after the government’s decision to impose fees on undeveloped land. The Recommendation and Reactions Dr. … said Read more

The Iron Woman. Dr. Hossam Youssef

by

Reading time: 2 Minutes  «I came here to help the company achieve its goals, not for employees to cater to my requests.» . . With this brief, concise statement—few in words yet deep in meaning and implication— Erin Rosenfeld, CEO of the American company Kraft Foods, began her first day on the job in June 2006, addressing the company’s 127,000 employees in 170 countries around the world… Read more

The water bill crisis. A little harm can go a long way. Abdulaziz al-Issa

by

Reading time: 2 MinutesRecently, the councils have addressed the issue of «water bills,» which have been issued at exorbitant rates compared to previous bills—a development that has astonished officials and experts in this vital and important sector, which no one can do without in any way. Looking at the root of the problem, we find that the increase in bill amounts should have been minor and barely noticeable, given that this … Read more

Sudden spike in water bills and fines, Minister of Water denies any additional burden on citizens

by

Reading time: 2 MinutesThe recent increase in water bills has sparked widespread controversy among citizens, as a large number of those affected have complained to the water company that the amounts they are being charged are more than 10 times higher than previous bills, while others complained that they never received their bills, which led to their service being cut off on the grounds of nonpayment. High bills and unjustified fines were among the main complaints… Read more

Housing: 20 billion riyals to attract Korean companies and build 100,000 housing units

by

Reading time: 2 MinutesThe Ministry of Housing has stepped up efforts to broaden participation through domestic and international partnerships to accelerate the resolution of the housing crisis. The South Korean news agency “Yonhap” reported that Korean companies signed a memorandum of understanding with the Saudi Ministry of Housing to establish a massive project comprising 100,000 housing units in Saudi Arabia, specifically in Riyadh, at an estimated cost of $18 to $20 billion. Housing partnerships … Read more

© 2026 Amlak Real Estate Newspaper | All rights reserved.