Month: May 2016

Hotel Equipment Exhibition in Jeddah reveals innovative technologies for the sector and an increase in the number of tourists by 43%

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Reading time: 2 MinutesThe 2016 Saudi Arabia Hotel Supplies Exhibition concluded on Thursday, May 19, following a three-day event held at the Jeddah Convention and Events Center, under the patronage of His Highness Prince Abdullah bin Saud bin Mohammed bin Abdulaziz Al Saud, Chairman of the Tourism Committee at the Jeddah Chamber of Commerce and Industry, who graced the opening ceremony … Read more

25.8 million trips expected in 2020 The Vision 2016 conference in Jeddah puts the Kingdom's megaprojects on the table

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Reading time: 2 MinutesData provided by the Tourism Information and Research Center (MAS) projected a 43% increase in the number of tourists expected to visit Saudi Arabia by 2020, as revealed by Deloitte at the Vision Conference, held during the Hotel Supplies Exhibition. According to figures released by the Tourism Information and Research Center (MAS), estimates indicate that the number of international trips to … Read more

Housing Ministry sets three criteria for savings and ownership program

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Reading time: < 1 MinuteThe Ministry of Housing has unveiled three criteria for the savings and home ownership program, which is expected to launch in the coming days and will enable low- and middle-income individuals to acquire housing within five to seven years; The program aims to enable beneficiaries to save for the down payment needed to finance the purchase of suitable housing. The criteria include: monthly household income, with the participation rate inversely proportional to it; and household size, with the participation rate… Read more

 Very soon ... Sheikh Saleh Al Rajhi's estate shakes the real estate market with 90 billion riyals

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Reading time: < 1 Minute  The General Court in Riyadh is close to selecting the (legal and accounting) consortium that will be tasked with liquidating the estate of Sheikh Saleh Al-Rajhi (real estate assets and land only, with a market value estimated at over 90 billion riyals based on current market prices), most of which are concentrated in the Kingdom’s major cities. More than 20 consortia submitted bids, but the competition has narrowed down to four… Read more

The Ministry of Housing Launches a Website for Reporting Vacant Land

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Reading time: < 1 MinuteThe Ministry of Housing has completed preparations to launch an online portal for fees related to unregistered land, in collaboration with the Ministry of Interior (represented by the National Information Center), the Ministry of Justice, the Ministry of Commerce, and other relevant ministries and agencies. This step aims to expedite the procedures for reporting land subject to the system, making it easier for citizens and sparing them the trouble of visiting the Ministry’s headquarters and branches, noting … Read more

Real Estate Fund begins implementing eligibility criteria to disburse loans to beneficiaries

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Reading time: < 1 Minute  The Board of Directors of the Real Estate Development Fund has required borrowers whose applications have been approved to submit a credit report from SIMAH within 30 days and to be current on their payments; This reaffirms that loans will not be granted to those with delinquent payments on their SIMAH records, and that the Fund’s approved application form must be completed. In addition, the Fund has begun implementing these eligibility criteria and controls that … Read more

The Saudi Arabian Monetary Authority and relevant security agencies are pursuing and imposing fines on unlicensed finance companies

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Reading time: < 1 MinuteOfficial sources have warned citizens against dealing with offices and companies that offer financing services through social media, street advertisements, and ATMs, given that most of these institutions are unregulated, on the one hand, and out of concern that those who deal with them may be subject to manipulation of the terms of agreements and contracts, on the other. The Saudi Arabian Monetary Authority (SAMA) has listed 26 financing companies on its website … Read more

The Islamic Trade Fair kicks off today in Riyadh with the participation of more than 30 countries

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Reading time: 2 Minutes  The 15th Trade Fair of the Member States of the Organization of Islamic Cooperation (OIC) kicks off today at the Riyadh Convention and Exhibition Center. Considered the largest Islamic trade fair, it features the participation of more than 30 countries and will be held at the Riyadh International Exhibition and Convention Center from May 22 – 26 May. Meanwhile, the Ministry of Commerce and Investment has completed its preparations for the launch of this important trade event … Read more

Agreement between Riyadh Housing Cooperative Society and the Ministry of Housing to construct 1000 housing units

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Reading time: 2 Minutes  The Riyadh Housing Cooperative Association (RHCA) has revealed a preliminary agreement with the Ministry of Housing to construct 1000 fully finished housing units to be distributed to eligible citizens through RHCA in cooperation with the Ministry's assistance in allocating land to complete the project with the participation of the private sector. This came during the association's annual meeting held recently under the chairmanship of Dr. Abdul ... Read more

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