Month: September 2016

Abdulaziz Al-Ammar: The memory of National Day will remain eternal for generations to come as they enjoy a homeland of security and safety

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Reading time: < 1 MinuteAbdulaziz bin Abdulrahman Al-Ammar, CEO of Ayar Real Estate, praised the heroic epic led by King Abdulaziz bin Abdulrahman Al Saud —may God have mercy on him— to unify the Kingdom, bring together the scattered tribes under a single leadership, and establish the fledgling Kingdom of Saudi Arabia. Al-Ammar expressed his sincerest wishes and congratulations on this occasion to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz … Read more

Fawaz Alhokair buys New York's most expensive and tallest apartment for $87.7 million

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Reading time: < 1 Minute  The American magazine “The Real Deal” reported that Saudi businessman Fawaz Al-Hokair completed the deal to buy the top apartment in a skyscraper in the “432 Park Avenue” area in Manhattan in the US state of New York, worth 87.7 million dollars (about 330 million riyals), and the purchase of Fawaz Al-Hokair's apartment is the most expensive deal in New York since the beginning of this year, as Fawaz paid ... Read more

“Trade” incentivizes investors and companies by reviewing 30 laws and regulations and opens horizons for economic activities

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Reading time: 2 MinutesIn line with the changes in the map of the national economy, the Ministry of Trade and Investment announced that it is conducting a comprehensive review of the laws and regulations governing trade, investment, consumer protection, free professions and consulting, to provide a stimulating environment for economic activities in accordance with best practices, and it is expected that the reviews will include guidelines that address existing challenges and open horizons for economic activities for society and individuals efficiently and effectively in line with Vision 2030. Providing ... Read more

Hamad Al-Muzaini: National Day is an important occasion and an opportunity to instill the principles of loyal citizenship

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Reading time: < 1 MinuteHamad Mohammed Al Muzaini, Chairman of Hamad & Ahmed Al Muzaini Real Estate Company, expressed his great pleasure and gratitude on the occasion of the 86th anniversary of the unification of the Kingdom, considering that the 23rd of September every year is a memory that renews the march of the epic led by King Abdulaziz bin Abdulrahman Al Saud - may God rest his soul - especially that it culminated in the unification of the components of the homeland, which we reap ... Read more

Jabal Omar announces the sale of 55 residential units in Makkah in cooperation with Albilad Financial“

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Reading time: 2 Minutes  Jabal Omar Company announced on Tuesday that it has sold 55 residential units in Makkah, according to a contract with Albilad Financial, the manager of the Albilad Hospitality Fund in Makkah, with a value equivalent to one billion riyals. This contract comes as a follow-up to the memorandum of understanding that was signed on 14/11/1437 H corresponding to 17/8/2016 AD between the company and Albilad Financial, under which the fund was established after taking ... Read more

Housing starts implementing white fees in Makkah and Madinah Three cities to be announced soon

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Reading time: < 1 Minute  The Ministry of Housing confirmed that it will start applying land fees in Makkah and Madinah in the month of Rabi' I next month (1438 AH), and announce the scope of application, in preparation for the start of the first phase of land fees in these two cities; making the total number of cities that will be applied in eight cities after it announced that it continues to implement its strategy for the application of white land fees, where ... Read more

With broad diplomatic participation, the Riyadh Chamber of Commerce is organizing its annual ceremony for businesswomen next Monday evening

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Reading time: < 1 MinuteThe Riyadh Chamber of Commerce has completed its preparations to host the annual Businesswomen’s Gala on the evening of next Monday, September 26, 2016, at the Businessmen’s Club at the Chamber’s headquarters. The event will host a gathering of senior female officials from the public and private sectors, as well as a number of female diplomats and the wives of heads of diplomatic missions accredited to the Kingdom. The annual gala for the capital’s businesswomen community has attracted attention from the sector… Read more

Riyad Bank appoints Abdulmajeed Al Mubarak as CEO. Riyad Bank thanks Talal Al-Qudaibi after his retirement

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Reading time: < 1 Minute  Riyad Bank, through its Board of Directors, announced its approval of the appointment of Abdulmajeed Abdullah Al-Mubarak as the bank’s acting CEO, effective October 31, 2016. He succeeds Talal Ibrahim Al-Qadibi, who expressed his desire to retire at the end of October. This announcement was made during the Board meeting held on September 19, 2016. For his part, Rashid Al-Abdulaziz Al-Rashid, Chairman of the Bank’s Board of Directors, praised … Read more

Ministry of Housing confirms on-time implementation of second phase of white land fees

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Reading time: < 1 Minute  The Ministry of Housing confirmed that it will continue to implement its programs related to the vacant land fee system, denying reports that the second phase of the fees has been postponed. The Ministry noted that the next (second) phase will begin after the current (first) phase ends—one year after the issuance of the fee payment decisions. The Ministry of Housing had previously renewed its call for owners of unutilized land to register quickly so as not to … Read more

Real estate reports: Supply of housing units in Riyadh has reached more than one million units

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Reading time: < 1 MinuteSpecialized real estate reports have confirmed that the total number of hotel rooms set to open in Riyadh will reach more than 8,000 by the end of 2018, with significant delays expected that may ease pressure on prices. The report noted that 11,000 residential units entered the market during the second half of the year, most of which were homes owned by Saudi families or small developers, … Read more

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