Month: July 2016

“Al Muzaini Real Estate starts selling East Gate villas today at SAR 650,000 per villa

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Reading time: < 1 Minute The sale of villas in the East Gate residential project, developed by Hamad and Ahmed Mohammed Al-Muzaini Real Estate Company, which specializes in housing development, will start today, Wednesday, at a price of 650 thousand riyals per villa, and the offer includes those who have been approved by the Real Estate Development Fund in Riyadh, and beneficiaries of housing support, in easy payments. The East Gate residential project, which ... Read more

U.S. firm sets aside $1.3 billion to buy British real estate post-Brexit

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Reading time: < 1 MinuteIn the wake of Brexit, a giant American company has allocated 1 billion pounds (1.3 billion dollars) to spend on the real estate sector in Britain in the coming period, following one of the largest Gulf companies investing in Britain, which recently announced that it is looking for new investments and considering expanding its operations in the United Kingdom. According to the Financial ... Read more

Financing hurdles and high land prices challenge “middle class” home ownership

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Reading time: < 1 MinuteThe real estate sector in the United Arab Emirates is facing many obstacles that limit the medium housing projects, which target a large segment of people who are burdened by rents to move to own housing units suitable for their financial solvency, while real estate experts stressed that the high prices of land, construction and financing costs are among the most prominent obstacles. However, real estate officials pointed out that the profit margins of medium-sized real estate developers do not ... Read more

The Real Estate Fund sets 12 requirements for female heads of household to obtain a loan, buy a property or transfer a loan

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Reading time: < 1 MinuteThe Real Estate Development Fund (REDF) has cut 12 conditions for female heads of households to obtain three types of services provided by the fund, namely applying for a loan, buying a mortgaged property for the fund, or requesting the transfer of the deceased's loan to one of the heirs, if her husband is sick or disabled, or if her husband is not Saudi. The conditions that ... Read more

Global report warns of Saudi Arabia's aging population and calls for demographic reforms

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Reading time: < 1 MinuteSaudi Arabia's aging population could put pressure on public finances and government debt over the next three decades if government reforms are not made to contain age-related costs, global reports warned on Monday. The Standard & Poor's ratings agency predicted in its report, titled “Global Population Aging 2016,” that Saudi Arabia's aging population will ... Read more

Abha Shopping Festival welcomes more than 500 national and Gulf companies in mid-Shuwal

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Reading time: < 1 MinuteWith the participation of more than 500 national, Gulf and international companies and institutions, the Abha Shopping Festival will be launched in mid-Shuwal in the presence of His Royal Highness Prince Faisal bin Khalid bin Abdulaziz, Governor of Asir Region, and the organizing committee has prepared a special pavilion for productive families and is expected to provide more than 600 jobs in its 18th edition. In the same context, the director of the ... Read more

Minister of Commerce reviews G20“s national transformation programs

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Reading time: < 1 Minute  Dr. Majid Al-Qasabi, Minister of Trade and Investment, reviewed the objectives of the National Transformation Program 2020 and the Kingdom's Vision 2030 and discussed the promising investment opportunities in the Kingdom and the facilities provided for them and foreign investment incentives for the G20 trade ministers and the possibility of cooperation with them at all levels of trade and investment. Algosaibi met with the Minister of Trade and Investment of the United Kingdom and the Minister of Trade ... Read more

“Tourism Authority” sets special determinants to control the prices of hotels and accommodation centers and links them with the Zakat Commission

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Reading time: 2 MinutesMr. Omar Al Mubarak, Director General of the Licensing Department at the Authority, confirmed that the tourist accommodation sector in the Kingdom has witnessed significant growth over the past few years, which created a balance between supply and demand in many regions, which was reflected in the drafting of the tourism system, which began to be applied from the beginning of Ramadan this year, and indicated that the system gave the Authority ... Read more

Report: Saudi ports succeed in passing 233 million tons of cargo. Revenues of 4.5 billion riyals

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Reading time: 2 MinutesSaudi Arabia's nine major commercial and industrial ports handled 233 million tons of cargo, excluding crude oil, in 2015 achieving an increase of 10.95% over the 210 million tons handled in the previous year. A special report issued by the General Ports Authority (GPA) for 2015 confirmed that the organization achieved profits and surplus in ... Read more

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