Month: May 2016

Royal Commission for Jubail and Yanbu completes infrastructure preparation efforts with three contracts worth more than 100 million riyals

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Reading time: < 1 MinuteThe Royal Commission for Jubail and Yanbu intends to continue its efforts to develop infrastructure and construct integrated facilities to keep pace with steady growth and to attract and localize more investments in its industrial cities in Jubail, Yanbu, Ras Al-Khair, and Jazan, To this end, it has signed three contracts to implement a number of projects in the industrial cities of Jubail and Yanbu, with a total value of 101,100,000 (one hundred and one million … Read more

Specialists: Restructuring the King Abdullah Financial Center will provide large real estate products and curb price inflation

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Reading time: < 1 Minute  Real estate experts have confirmed that the restructuring of the King Abdullah Financial District will result in an increase in the supply of office and commercial real estate, residential properties, and hotels that exceeds Riyadh’s actual demand for the next ten years, making it impossible to lease or occupy the 3 million square meters of built space at profitable rates, as well as … Read more

More than 37% residents of the Kingdom rely on bottled water from factories

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Reading time: < 1 Minute  In a new report by the General Authority for Statistics on the sources of drinking water relied upon by the Kingdom’s residents, the Authority found that the largest percentage of the Kingdom’s population—estimated at 11.50 people—relies primarily on bottled water, which is equivalent to 37.21% of the Kingdom’s population of 30.77 million, while those relying on water… came in second place… Read more

Saleh Al-Awaji Opens the Saudi Energy Exhibition Amid Optimism Over the New Cabinet Reshuffle

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Reading time: < 1 Minute  With companies representing more than 20 countries in attendance, Dr. Saleh Al-Awaji, Chairman of the Board of Directors of the Saudi Electricity Company, opened the Saudi Energy Exhibition yesterday evening. In a statement yesterday following the opening, he noted that electricity demand is increasing annually at high rates—ranging from 6 to 71 TP3T—reaching levels unprecedented globally. He revealed that an increase in demand was recorded last year … Read more

 140 plots in Al Rawabi residential plan to be auctioned off next Thursday

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Reading time: < 1 Minute  Al-Salhi Real Estate Office in Unaizah is offering 140 lots in the Durat Al-Rawabi residential development, located near Othman bin Affan Street, in a public auction at the Empress Hall on Thursday, August 5, 1437 AH. The development is located near Othman bin Affan Street. On this occasion, Fahd bin Abdullah Al-Salhi, the office’s director, explained that the sizes of the lots … Read more

Al-Bilad Bank Offers Housing Loans to “Saudi Telecom” Employees on Favorable Terms

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Reading time: < 1 Minute  Al-Bilad Bank has signed an agreement with Saudi Telecom Company (STC) to provide housing loans to the company’s employees on favorable terms. The agreement was signed by STC Group CEO Dr. Khalid bin Hussein Al-Bayari, and Al-Bilad Bank CEO Abdulaziz bin Mohammed Al-Anizan at Saudi Telecom Company’s headquarters in the King Abdulaziz Complex in Al-Mursalat, Riyadh, yesterday. This agreement is in line with the regulations and provisions … Read more

The implementing regulations for the White Land System specify five implementation phases based on land area

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Reading time: 3 Minutes  The Executive Regulations of the Vacant Land Fees System classify land subject to the system into five categories based on area, as follows: – Category 1: Undeveloped land with an area of 500,000 square meters or more. – Category 2: Undeveloped land with an area of 250,000 square meters or more. – Category 3: Undeveloped land with an area of 100,000 square meters or more. – Category 4: … Read more

The Engineers Association Recommends Establishing a Body to Regulate Public-Private Partnerships at the Projects Conference

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Reading time: 2 MinutesThe Fifth Saudi Conference on Project Management, organized by the Saudi Council of Engineers, recommended the establishment of a higher administrative body to set guidelines for participation in project management, standardize procedures, and oversee the proper implementation and fairness of processes. Among the body’s tasks would be to conduct a thorough survey to identify opportunities and needs that can be addressed through public-private partnerships by carrying out the necessary scientific studies, … Read more

More than 20 countries will light up the Saudi Energy Exhibition this evening

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Reading time: < 1 Minute  The Saudi Energy Exhibition, organized by Riyadh Exhibitions Company under the auspices of the Ministry of Water and Electricity, kicks off this evening in the capital, Riyadh, and will run from May 9 to 11. The exhibition covers the electricity, solar energy, and lighting sectors. The exhibition highlights the fundamentals of the energy sector and related topics, including the structure of energy supplies, energy policy, and technical issues such as efficiency … Read more

Riyad Bank wins Best Real Estate Development Financing Program of the Year 2015

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Reading time: < 1 MinuteRiyad Bank added another achievement to its record by winning the award for Best Real Estate Development Financing Program for 2015 in the banking sector, following approval from the Saudi Arabian Monetary Authority (SAMA) for its off-plan sale-based lease product for licensed projects. In recognition of this achievement, His Excellency Majid bin Abdullah Al-Hogail, Minister of Housing, honored the bank during his visit to the Riyadh Exhibition… Read more

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