Month: June 2016

Najran Chamber finalizes preparations for the elections of its new board of directors next Wednesday and Thursday

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Reading time: < 1 Minute  The Najran Chamber of Commerce and Industry has finalized its preparations to receive voters to cast their votes and elect its new board of directors in its 1437H-1441H session, which will be held next Wednesday and Thursday during the evening period from 9:00 pm to 2:00 am, at the chamber's headquarters. The Najran Chamber Secretary Abdullah bin Mansour Al Mansour explained that the Chamber's elections will be held under the supervision of ... Read more

Saudi stock market investors call for companies to disclose their white land holdings

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Reading time: < 1 MinuteA number of traders in the Saudi stock market called on the Capital Market Authority (CMA) to require real estate companies and other companies that own white lands to clarify the effects of the decision to adopt fees on white lands on these companies, in order to prevent interpretations and ambiguity that surrounds these companies, which ... Read more

Real estate specialists: More than 60 sectors in the construction industry will benefit from the fee decision

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Reading time: 2 Minutes  The implementation of the white land fee system has led to almost unanimous opinions that it is better for the public not to buy for the time being until the market stabilizes and its features become clear. A number of them expected that the real estate markets and prices would be affected immediately after the decision, while some had reservations about the impact of the system on land prices. Read more

flynas to list 30% of its shares on the Saudi market

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Reading time: < 1 Minute  Flynas plans to offer 30% of its shares for subscription on the Saudi market, and Banque Saudi Fransi has been appointed as an advisor for the offering, said Bandar Al-Muhanna, CEO of the company, adding that the company is waiting for the required approvals to carry out the offering.  

After being approved by the Council of Ministers ... . Real estate professionals are waiting for the Shura to resolve the “General Real Estate Authority System”

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Reading time: 2 MinutesThe General Real Estate Authority (GRA), which was approved by the Council of Ministers last month, is still awaiting its turn for discussion in the Shura Council, which approved the establishment of an independent body with a legal personality to deal with housing. 14 main tasks of the Real Estate Authority, as the Real Estate Authority Law defines 14 tasks for the authority to achieve its goals, the most important of which are preparing general policies for real estate regulation, proposing ... Read more

Land tax system helps lower prices and incentivizes owners to invest in their land

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Reading time: < 1 MinuteJamil Ghaznavi, head of JLL's Saudi Arabia office, said that the white land tax system that came into effect last week is helping to incentivize some landowners to start implementing their plans to develop their land, to avoid the burden of the additional tax imposed on the possession of undeveloped land, according to the head of JLL's Saudi Arabia office. Gaznavi said that some landowners' tendency to sell their sites to other real estate developers, which ... Read more

Under the patronage of Prince Sultan bin Salman, the Fourth Saudi Forum for Conferences and Exhibitions will be launched next November

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Reading time: 2 MinutesUnder the patronage of His Royal Highness Prince Sultan bin Salman bin Abdulaziz, President of the Saudi Commission for Tourism and National Heritage, the National Program for Exhibitions and Conferences is organizing preparations for the fourth Saudi Forum for Conferences and Exhibitions, which will be held from 13-15 Safar 1438 H, corresponding to 13-15 November 2016, in Medina. The forum will be held for the fourth consecutive year, with the participation and sponsorship of a group of government agencies, and will discuss ... Read more

Prince Mohammed bin Salman hands over the first license to a foreign company in the commercial sector with ownership of 100%

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Reading time: 2 Minutes  His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Deputy Crown Prince, Second Deputy Prime Minister, Minister of Defense and Chairman of the Council of Economic and Development Affairs, handed over the first investment license in the commercial sector with full foreign ownership to Dow Chemical Company, during his current visit to the United States of America. Read more

Al Rajhi Decorative and Iron Company opens its branches in Jazan and Muhayel Asir

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Reading time: < 1 MinuteIn continuation of the expansion plans pursued by Al Rajhi Decorative & Iron Company, the company recently opened its showroom in Jazan, which underwent a development process to keep pace with the company's strategies, as well as inaugurated a new branch in Muhayil Asir, where new products such as fiberglass doors that are an excellent alternative to wood doors are included in the showrooms. On this occasion, the company's CEO, Engineer Mansour Al-Qahtani, who ... Read more

Jabal Omar launches the first Conrad hotel in Makkah

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Reading time: < 1 MinuteThe Conrad Makkah Hotel has begun welcoming guests amid an atmosphere of luxury and excellence inspired by the authenticity and contemporary Islamic character. This is the first hotel of the Conrad Hotels and Resorts International group in Saudi Arabia and the third in the Arab world, after Cairo and Dubai, said Yasser bin Faisal Al Sharif, CEO of Jabal Omar. Yasser Bin Faisal Al Sharif, CEO of Jabal Omar, expressed his delight at Conrad's entry into the Kingdom of Saudi Arabia through ... Read more

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