Month: May 2016

»Credit and Savings« denies the inclusion of procrastinating borrowers in SIMAH's list“

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Reading time: < 1 MinuteAbdulaziz Al-Nasser, the official spokesperson for the Saudi Credit and Savings Bank, denied recent media reports regarding the bank’s pursuit of delinquent borrowers, their inclusion in the «Sama» credit bureau, the lack of cooperation from government agencies in collecting installments owed by their employees, and increases in monthly installment payments. Al-Nasser described these statements as »misconceptions» spread by some in the pursuit of sensational headlines. Al-Nasser said: … Read more

Riyadh Metro 33% complete and localization of jobs begins

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Reading time: < 1 MinuteWork on the Riyadh Metro project (King Abdulaziz Public Transportation Project in Riyadh—train and buses) has made significant progress, with 33%  of the actual work plan. Prince Faisal bin Bandar bin Abdulaziz, Chairman of the Riyadh Development Authority and Chairman of the Supreme Committee overseeing the project’s implementation, inspected the progress of the work and presided over the ceremony marking the completion of the work… Read more

Confident steps for the Ministry of Housing Abdulaziz Al-Issa

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Reading time: 2 MinutesWith confident strides, the Ministry of Housing is steadily moving toward fulfilling the aspirations of the Saudi people by resolving housing issues—whose intricate interconnections and thorny complexities have baffled experts and specialists—through an accurate and sound diagnosis of the root causes of the housing problem. Since Mr. Majid bin Abdullah Al-Hogail took the helm at the Ministry of Housing, he has begun to bring together the various stakeholders in the housing issue to gather their views and recommendations… Read more

“Housing” announces the launch of its first subsidized products for beneficiaries

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Reading time: < 1 MinuteThe Saudi Ministry of Housing recently announced that 100,000 housing units have been prepared for allocation and delivery starting in Sha'ban 1437 AH in monthly phases over the course of a year, covering the needs of 12.5% of eligible applicants registered on the waiting lists under the support program. The ministry clarified that the 100,000 housing units will cover all regions of the Kingdom, noting that several projects will be delivered in the month of Sha’ban… Read more

Burkina Faso's president opens doors to Saudis, invites them to partner with the government

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Reading time: < 1 MinuteHis Excellency President Roch Marc Christian Kabore, President of the Republic of Burkina Faso, called on Saudi businessmen and companies to invest in his country, emphasizing the provision of guarantees to facilitate the investments of Saudi businessmen in Burkina Faso, this came during his meeting with them at the Riyadh Chamber. The President of Burkina Faso invited Saudi investors to partner with his government to implement the country's plans to enhance the infrastructure ... Read more

45 Canadian companies showcase investment opportunities to businessmen

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Reading time: < 1 MinuteWith the participation of 45 Canadian companies, a trade delegation from Canada reviewed investment opportunities for businessmen and women in a number of commercial fields, and the meeting organized by the Riyadh Chamber for the delegation with their counterparts from Saudi companies discussed ways to find outlets for the products of these Canadian companies to the Saudi market. The delegation's visit comes within the framework of the Chamber's efforts to provide more opportunities ... Read more

CMA enacts new amendments to encourage foreign investment in the stock market

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Reading time: < 1 Minute  The Capital Market Authority (CMA) announced its approval to lower the minimum required value of assets managed by foreign companies wishing to invest in listed shares to be 3.75 billion riyals or more instead of 18.75 billion riyals or more. This came in a statement issued by the CMA regarding the amendment of the rules governing the investment of qualified foreign institutions in listed shares, as it agreed ... Read more

Minister of Housing inaugurates the Developer Services Center «Tamamam» to build one million housing units»

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Reading time: < 1 MinuteWith the participation of ten government sectors, Housing Minister Majid bin Abdullah Al-Hogail will inaugurate the Developer Services Center (Etmam) this Tuesday evening. This initiative marks the first step in supporting the housing development sector, in line with the official directives of Saudi Vision 2030, and toward achieving the goal of constructing one million housing units by 2020. The Developer Services Center “Itmam” aims to achieve a number of objectives, most notably accelerating the licensing process … Read more

Saudi Housing Finance Company “Sahl” participates in the Riyadh Real Estate and Housing Exhibition

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Reading time: < 1 MinuteThe Saudi Housing Finance Company “Sahl” recently concluded its participation in the Riyadh Real Estate, Housing, and Urban Development Exhibition (Riyadh Restatex 2016), held at the Riyadh International Exhibition Center under the patronage of His Excellency Minister of Housing Majid Al-Hogail, where it presented its distinctive offerings to visitors and clients attending the exhibition. “Sahl,” continuing its long track record of participation and attendance at various events focused on … Read more

Reports confirm growth in global real estate investment in 2016

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Reading time: 2 MinutesPrepared by: Manal Al-Asiri. Although the world has witnessed numerous economic fluctuations over the past year, this has not affected the real estate market, as real estate markets around the world continue to see sustained activity amid these fluctuations, These markets have continued to attract capital, with expectations that real estate investment values will remain stable or rise in 2016 compared to … Read more

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