Month: April 2016

Bahrain's real estate market maintains stability and 359.6 million dinars worth of sales in the first quarter

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Reading time: < 1 Minute  The real estate market in the Kingdom of Bahrain has remained stable since the beginning of this year, as confirmed by Sheikh Abdulrahman bin Ali Al Khalifa, Director General of the Real Estate Registration Authority and Honorary President of the Bahrain Real Estate Society, who stated that real estate transactions were not affected during the first quarter of this year, explaining that the volume of real estate transactions is on par with the same period last year, reaching … Read more

Real Estate Sustainability Index puts Majid Al Futtaim at the top of the Green Star ranking

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Reading time: < 1 Minute  The GRESB Real Estate Sustainability Index awarded Majid Al Futtaim Group the highest ranking in the Green Star category for the second time, with its sustainability performance across its various real estate assets reaching 67% exceeding the global average by 12%, as part of its efforts, initiatives, and unwavering commitment to achieving the highest global sustainability standards, which form a cornerstone of its vision. It was … Read more

“Emaar Properties Begins Construction of the World’s Tallest Tower in Dubai

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Reading time: < 1 MinuteEmaar Properties announced its intention to build a new tower in the Emirate of Dubai that will surpass the Burj Khalifa, currently the world’s tallest building, Mohamed Alabbar, the company’s chairman, said in a press interview that 50% of the project’s funding will come from internal sources, with the remainder to be financed externally. The new tower project will cost $1 billion. The tower will offer views … Read more

“The Monetary Authority launches its e-window ”SADAD Account“ to revitalize digital commerce

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Reading time: < 1 MinuteThe Saudi Arabian Monetary Authority (SAMA) has launched a new online service for investors, businesspeople, merchants, and consumers in general, introducing its new “Saddad Account” in the presence of His Excellency Governor Dr. Fahd bin Abdullah Al-Mubarak. It offers a secure, online payment option without the need for cards or cash, and the service deducts funds directly from the consumer’s Saddad account designated for commerce … Read more

Ministry of Commerce adds new webpage to implement corporate governance standards

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Reading time: < 1 MinuteThe Ministry of Commerce and Industry has added a new page to its website that displays a company’s compliance status on the “Amal” portal, with the aim of implementing initiatives designed to enhance disclosure and transparency and apply the highest standards of corporate governance. The new page enables those interested in the business sector and the company’s stakeholders to assess its compliance with corporate regulations by displaying its registration status and filings… Read more

“Amlak International opens its office in Al Khobar to offer a full range of financing solutions

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Reading time: < 1 MinuteAmlak International Real Estate Finance has opened a new office in Al-Khobar, in line with its strategy to expand its presence and enhance the quality of the work environment. The new branch is located in the Al-Mousa Commercial Complex in the Al-Yarmouk neighborhood. On this occasion, Tawfiq Maafa, the company’s Executive Director of Retail, Operations, and Information Technology, expressed his pride in unveiling the company’s permanent headquarters in Al-Khobar… Read more

Mixed reactions to prices in Jeddah’s Al-Nakhil development… Buyers are businesspeople, not homebuyers

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Reading time: 2 MinutesThe auction for the Al-Nakhil project in Jeddah, which took place last Wednesday, sparked widespread debate among real estate professionals and investors, as 99 lots were sold for a total of over 500 million (half a billion riyals), The auction was attended by more than 700 real estate professionals, investors, and financiers. Prices for the 99 plots varied depending on location and features… Read more

“Al-Awwal Real Estate Company” Showcases Its Land Development Projects at “Restatex Riyadh 2016”

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Reading time: < 1 Minute Ibrahim Al-Alwan, CEO of Al-Awwal Real Estate Development Company, invited their clients and visitors to the Riyadh Real Estate, Housing, and Urban Development Exhibition (RESTATEX) 2016 to visit the company’s booth and learn about the projects it is developing in a number of cities across the Kingdom. The most significant integrated real estate development project in the history of the Eastern Province will be launched during the exhibition, and Al-Awwal will also showcase a range of … Read more

“Al-Arjan” showcases 661 residential villas in its “Al-Shorouq and Al-Qamra” projects in Riyadh at “Restatex Real Estate”

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Reading time: < 1 MinuteAl-Argan Projects, a company specializing in the development of integrated residential neighborhoods, has finalized preparations to launch its new projects at the Riyadh Real Estate Exhibition “Restatex,” in which it is participating as a Platinum Sponsor. The company will showcase its new Al-Shorouq project, located in the Al-Rimal neighborhood in northeast Riyadh, which features 334 residential villas. Also on display—for the first time—will be the Al-Qamra project, located north of Riyadh in … Read more

Saudi-Turkish Business Forum sets recommendations for 250 investors to develop strategic partnership between the sectors of the two countries

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Reading time: 3 MinutesThe Saudi-Turkish Business Opportunities Forum, held in Istanbul, concluded last weekend. The forum’s proceedings included more than 100 joint meetings between businesspeople from both countries, More than 50 Saudi investors and over 200 from the Turkish side participated in the forum, with discussions focusing on future business opportunities spanning all sectors included in the agenda… Read more

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