Month: April 2016

Experts: Family businesses' transformation into shareholdings gives them continuity and generates other investment opportunities

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Reading time: 2 MinutesRepresentatives of the companies participating in the “Transition of Family Businesses to Joint-Stock Companies” forum, organized by the Eastern Province Chamber of Commerce in collaboration with the Saudi Stock Exchange (Tadawul) last weekend, agreed that taking the initiative and not hesitating to convert to a joint-stock company yields many future benefits, in terms of the continuity and sustainability of the company’s name and business activities, along with an increase in its actual market value. The need for real estate companies to transform … Read more

During the “Housing Solutions” seminar at the Institute of Management. Al-Haqeel diagnoses housing obstacles, workshop lays out solutions

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Reading time: 3 MinutesMinister of Housing Majid bin Abdullah Al-Haqeel summarized the obstacles facing the provision of adequate housing at the right price in three main axes: land with its location and services, development and the relationship of developers and individual builders and contractors, building regulations and availability of materials, and financing, this came during the seminar “Housing in the Kingdom: Challenges and Solutions” organized by the Institute of Public Administration, King Salman Conference Center at the Institute's headquarters in Riyadh, ... Read more

“Marriott is the first eco-friendly hotel 200 billion riyals in green hotel projects since 2014

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Reading time: 2 MinutesWith an investment value exceeding 200 billion riyals, the Kingdom has been developing a number of green hotel projects covering an area of 20 million square meters since 2014, This was explained by Dr. Ehab Al-Fara, Associate Professor at the College of Tourism and Archaeology at King Saud University, during the seminar «The Future of Ecotourism in Riyadh» as part of the activities of the 9th Saudi Travel and Tourism Investment Forum, held … Read more

During the Travel and Tourism Forum 2016. Prince Sultan bin Salman: Hesitation and underfunding are the reasons why the tourism industry is lagging behind

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Reading time: 2 MinutesUnder the patronage of Prince Faisal bin Bandar bin Abdulaziz, Governor of the Riyadh Region and Chairman of the Region’s Tourism Development Council, and in the presence of Prince Sultan bin Salman bin Abdulaziz Al Saud, President of the General Authority for Tourism and National Heritage, the Saudi Travel and Tourism Investment Forum 2016, organized by the Authority, recently kicked off at the Riyadh International Convention and Exhibition Center from March 27 through … Read more

Saudi Credit Bank suspends temporary renovation loan and updates its mechanisms

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Reading time: < 1 MinuteThe Saudi Credit and Savings Bank has stated that it is currently working on establishing electronic links with a number of government agencies in order to facilitate and expedite inquiries regarding sukuk and supporting documents. The bank’s official spokesperson, Abdulaziz Al-Nasser, denied recent rumors regarding the permanent suspension of renovation loans for abandoned women, widows, and divorcees, noting that the suspension … Read more

Ministerial decree prevents the sale of orphan homes granted by the Social Affairs Ministry“

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Reading time: < 1 MinuteThe Ministry of Justice has issued a decision stipulating that homes granted to orphans by the Ministry of Social Affairs may not be sold until five years have elapsed from the date of the grant, in the best interests of the orphans. Minister of Justice Dr. Walid Al-Samaani directed that this condition be included in the deed, and the Ministry’s Information Technology Department was instructed to block the transfer of the deed in the system … Read more

Several new tourism and rural projects launched according to an ambitious vision

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Reading time: < 1 MinuteThe Al-Qassim Tourism Development Council announced the launch of new initiatives and projects in the tourism sector during the Travel and Tourism Investment Forum. Dr. Walid Al-Humaidi, Deputy Chairman of the Saudi Commission for Tourism and National Heritage for the Regions, praised the new initiatives and the excellence, diversity, and innovation that Al-Qassim has achieved in its participation in the forum, which attracts visitors to its pavilion. The Secretary-General of the Tourism Development Council and Director of the Authority’s branch in the region … Read more

227 new Saudi cities in 45 years The Urban Planning Forum unveils programs to shape the future of Saudi cities in cooperation with the United Nations

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Reading time: 3 MinutesThe First Urban Planning Forum, organized by the Ministry of Municipal and Rural Affairs under the theme «Modern Trends in Urban Planning» at the King Faisal Conference Hall in Riyadh, the rapid pace at which the Kingdom is moving toward urbanization, as it is the fastest-growing country in this regard, with the urbanization rate rising by approximately 331% between 1970 and 2010, as the number of cities … Read more

Property survey. Businessmen and real estate professionals: The entry of international companies ignites competition in the construction industry

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Reading time: 4 MinutesReactions have been mixed regarding the entry of international and foreign companies into the Saudi real estate development and construction sector through contracts and agreements with the Ministry of Housing to construct more than 180,000 housing units in Riyadh and other regions. Forecasts suggest that partnerships with the foreign private sector will be further strengthened through a number of upcoming agreements, given the extensive expertise these companies possess in the field of … Read more

Al Rajhi Bank launches autism awareness campaign in solidarity with King Saud University

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Reading time: < 1 MinuteIn line with its social responsibility and to coincide with World Autism Awareness Day, Al Rajhi Bank, in collaboration with King Saud University, has launched an awareness campaign as part of its social responsibility programs for this year. The campaign, which runs through April 20, aims to raise awareness of the condition, engage with individuals with autism and their families, and help them cope with the challenges of the condition through education … Read more

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