Month: June 2016

24 government agencies are proposing 543 initiatives for the National Transformation Program at a total cost of more than 268 billion riyals

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Reading time: < 1 Minute  The Council of Economic and Development Affairs (CEDA) involved 24 government agencies in the first phase of the mechanism for submitting 543 initiatives to the National Transformation Program for implementation in five phases through 2020, This reflects the commitment of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Deputy Crown Prince, Second Deputy Prime Minister, and Minister of Defense, to coordinating efforts and enhancing the quality and feasibility of … Read more

The Ministers of Housing, Planning, Health, and Education Will Present Their Programs for the National Transformation Today

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Reading time: < 1 MinuteFollowing the Cabinet’s approval of the National Transformation Plan 2020, ministers are today continuing to outline their plans for the next phase through press conferences that began the day before yesterday. Majid Al-Hogail, Minister of Housing, Dr. Tawfiq Al-Rabiah, Minister of Health; Engineer Adel Faqih, Minister of Planning and Economy; Engineer Adel Faqih, Minister of Planning and Economy; and Musaed Al-Eiban, Minister of State and Chairman of the Board of Directors … Read more

Including mortgage guarantees... The Ministry of Housing launches 21 “National Transformation” initiatives at a cost of 59.2 billion riyals

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Reading time: 4 MinutesThe Ministry of Housing has launched 21 initiatives as part of the Kingdom’s “National Transformation Program 2020,” which was approved by the Saudi government. These 21 initiatives by the Ministry of Housing are estimated to cost 59.2 billion riyals. Among the most important initiatives are appropriate solutions for the use of unused or unproductive government-owned land, loan guarantees for real estate financing (excluding the down payment), and the involvement of major private landowners in the development process… Read more

Dubai to build world's largest concentrated solar power plant by 2021

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Reading time: < 1 Minute  As part of its strategy to increase reliance on clean energy, Dubai plans to build a concentrated solar power plant with a production capacity of 1,000 megawatts by 2030, the largest in the world, said Saeed Mohammed Al Tayer, CEO of Dubai Electricity and Water Authority (DEWA), adding that the project to be built within the Mohammed bin Rashid Solar Park includes a first phase with a capacity of 200 megawatts ... Read more

24 billion dirhams worth of real estate transactions in Dubai in 5 months ... and mortgages 27 billion dirhams

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Reading time: < 1 MinuteA report issued by the Dubai Land Department revealed that the value of sales transactions in the market during the last five months of this year exceeded 24 billion dirhams, while the total value of mortgages amounted to more than 27 billion dirhams during the same period in a strong indication that banks are returning to the lending market with great caution and strictness practiced during ... Read more

STC re-launches Inspireio incubator with SAR 75k funding

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Reading time: < 1 Minute  Saudi Telecom Company (STC) has started accepting applications from those wishing to join its business incubator initiative (Inspireio) for the second batch, which will continue until mid-July 2016, providing consultancy, training and seed funding worth SAR 75,000, in addition to providing specialized mentorship from prominent figures in the ICT industry, opening up broad horizons for participants and encouraging them to ... Read more

First Women Entrepreneurs Forum in Hail reveals 70 projects worth 14 million riyals

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Reading time: < 1 MinuteThe first Women Entrepreneurs Forum in Hail revealed the support and establishment of 70 financing projects by the National Women's Entrepreneurship Institute (NWEI), Hail branch, to exchange experiences, said Ibtisam Al-Shammari, director of the NWEI branch in Hail. The forum showcased outstanding projects of successful women entrepreneurs and motivated women entrepreneurs to develop their projects and present modern methods of marketing, said Ibtisam Al-Shammari, director of the Women's National Entrepreneurship Institute branch in Hail. Read more

Report : Sharqiya tourism generates 4 billion riyals, with accommodation and shopping sectors topping the list of visitor spending

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Reading time: 2 Minutes  With the entry of the holy month of Ramadan, the accommodation sectors in the Eastern Province are witnessing a growth in demand and the occupancy rate reaches its peak with the approach of the Eid al-Fitr holiday, which is accompanied by a number of major events and festivals launched by the region's municipality and the Tourism Authority. A specialist in the accommodation sector predicted that the total amount spent by visitors to the Eastern Province will reach four ... Read more

“Credit and Savings” finances entrepreneurs with 17 million riyals to implement 28 technical and craft projects

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Reading time: < 1 MinuteThe Saudi Credit and Savings Bank (SCSB) has provided financing to entrepreneurs to implement 28 technical projects distributed in cities and regions of the Kingdom, as part of the support and financing of entrepreneurs in their various professions and trades, with a total value of about 17.4 million riyals. The bank is keen to support and finance all activities through which it sees the need for ... Read more

Jabal Omar completes its projects by equipping and furnishing 6 5-star hotels in Makkah

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Reading time: < 1 MinuteTo complement its projects overlooking the Holy Mosque, Jabal Omar Company, in agreement with Ruwwad Al Mada'in Construction and Development Company Limited (R C C), has started furnishing and equipping six hotels in the Jabal Omar project worth 492 million riyals within a period ranging from 12 to 18 months. The six five-star hotels comprise 3498 hotel rooms, including the second phase of two hotels ... Read more

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