Month: July 2016

Ministry of Commerce receives 1,436 applications to establish companies during the first half of 2016

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Reading time: < 1 MinuteThe Ministry of Commerce and Investment received 1,436 online applications to establish companies during the first half of 2016, Limited liability companies led the way with 1,263 incorporation applications, while the number of applications for sole proprietorships reached 122 electronic applications completed to establish single-partner limited liability companies, since the new Companies Law came into effect, which permitted this type … Read more

Ain Seih shareholders receive their financial entitlements and a dividend of 268%

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Reading time: < 1 MinuteShareholders of Ain Al-Saih, a subsidiary of Baghlaf Al-Zafar Holding Group in the Eastern Province, will begin receiving their financial proceeds from the sale of the company’s shares next week via direct bank transfers to their accounts. The Real Estate Shares Committee at the Ministry of Commerce and Investment had announced its decision to distribute the full capital and profits at a rate of 268% to the shareholders of Ain Al-Seih, who … Read more

Riyadh Shopping and Entertainment Festival kicks off with a tourist bus touring the city's ancient landmarks

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Reading time: 2 MinutesPrince Faisal bin Bandar bin Abdulaziz, Governor of the Riyadh Region, recently launched the Riyadh Shopping and Entertainment Festival for the summer of 1437 AH, He also inaugurated the Kingdom’s largest snow park at Al-Othaim Mall, which spans an area of 5,000 square meters, at a total cost of approximately 100 million riyals, and has a capacity of up to 350 people per hour. His Highness honored the entities participating in the festival, … Read more

Led by 2,366 companies Saudi Arabia invests $4.3 billion in the UAE, with real estate leading the way

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Reading time: 2 Minutes  The Saudi presence, in all its aspects, has been a crucial and defining pillar in the development of the UAE economy, through both direct and indirect support via various investments. Emirati officials have confirmed that Saudis are the most active investors in Dubai’s real estate market, with a report by the Dubai Land Department showing that Saudis are the second-largest investors in Dubai’s real estate sector … Read more

Renovated 414 hotel units at Sheraton ... ” Al Tayyar offers hotel apartments in front of the Holy Mosque for sale

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Reading time: < 1 MinuteAl-Tayyar Travel and Tourism Holding Group has completed the full renovation of the 5-star hotel located in front of the Grand Mosque, which is part of the global Sheraton hotel chain. The renovations included the hotel’s exterior facades, the layout and interior design of its floors, public facilities, lobbies, elevators, and prayer rooms. Additionally, 304 guest rooms and 110 hotel apartments were redesigned, along with the necessary service facilities. In the same vein, the group signed a contract with Starwoods … Read more

“Taif Tourism” issues 190 licenses for furnished tourist housing units and intensifies its control campaigns

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Reading time: < 1 MinuteTo bolster efforts in the tourism accommodation sector across all local tourist cities, the Taif branch of the General Authority for Tourism and National Heritage has issued 190 licenses for new furnished tourist accommodation units throughout the province, according to a report released by the Authority. Taif is considered the capital of Arab summer resorts after being awarded the title for the third time by experts from the Arab Tourism Organization, and it features a range of hotels and apartment buildings… Read more

Emir of Qassim inaugurates Buraydah Shopping Festival 2016 and invites businessmen to invest

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Reading time: < 1 MinuteHis Royal Highness Prince Dr. Faisal bin Mishaal bin Saud bin Abdulaziz, Governor of the Qassim Region, Chairman of the Region’s Tourism Development Council, launched the 2016 Buraydah Shopping Festival in the city of Buraydah on Thursday evening. The festival will run for one month, featuring a variety of events and programs tailored to the needs of families and shoppers. Upon his arrival, His Highness cut the ribbon to mark the start of the festival, which is organized by the Chamber … Read more

Turkish life is returning to normal Turkey to continue economic development, targets 50 million tourists for 2016

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Reading time: < 1 MinuteIn response to a call by Turkish President Recep Tayyip Erdoğan, thousands of Turkish citizens took to the streets last night, Friday, to condemn the failed coup attempt and show support for the democracy that brought the elected government to power through the ballot box. Crowds of young people confronted the military tanks led by the rebels, forcing them to return to their normal positions in army barracks. Turkish President Recep Tayyip Erdogan had held a press conference at the airport… Read more

 Turkey regains control after failed coup attempt on Friday night

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Reading time: < 1 MinuteIn the wake of the failed coup attempt led by a faction of the Turkish military late Friday evening, President Recep Tayyip Erdogan warned those behind the chaos his country witnessed that they would pay the price for their actions, regardless of their political affiliation. During a press conference held at Istanbul Airport, he said: “I am here now, and the coup plotters no longer exist. Those involved in…” Read more

Specialized international reports : Turkey's Istanbul is the third city in the world in terms of rising real estate prices

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Reading time: < 1 MinuteDespite the security unrest the region has been experiencing for some time, Turkey has maintained the strength of its real estate market, attracting investors; with a British magazine specializing in the real estate sector ranking Istanbul third among 150 major cities worldwide in terms of the rate of increase in property prices. It was revealed … Read more

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