Month: September 2016

“Emaar Properties Sells First Phase of Urbanana Homes... and Issues Sukuk Worth $750 Million

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Reading time: < 1 MinuteEmaar Properties announced the complete sale of the first phase of Urbana homes as part of the first phase of the “Emaar South” project. The townhouses in “Urbana” range in size from 1,205 square feet for two-bedroom units to approximately 1,525 square feet for three-bedroom units, The company has established a payment plan starting at 10% upon purchase and ending at 30% upon the expected delivery date in September 2019. It was … Read more

It intends to sell 19 properties. Australia bans foreigners from buying real estate without government permission

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Reading time: < 1 Minute  The Australian Treasury has decided to sell 16 properties purchased by foreigners without government approval. In this regard, Australian Treasurer Scott Morrison stated that, since May, Australia has mandated the sale of 16 properties purchased by foreigners without government approval. The ministry had issued a statement explaining that “foreign investment provides significant benefits to Australia, but we must … Read more

Real Estate Contributions Committee continues “Your Rights are Honest” campaign and recovers 145 million riyals in six months

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Reading time: < 1 MinuteThe Real Estate Contributions Committee at the Ministry of Commerce and Investment plans to continue the “Your Rights Are Sacred” campaign, which was launched at the beginning of the second quarter of this year, to reach as many shareholders or heirs as possible so that they may receive their rights to contributions that have been stalled for decades.  The committee called for support for the campaign until the rights of all shareholders are restored, and aims to deliver the funds due to citizens … Read more

Competitive prices and stunning designs Vincitore Palacio's residential project impresses visitors at Cityscape Global 2016“

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Reading time: 2 Minutes   During its participation in “Cityscape Global 2016,” Vincitor Real Estate Development showcased its flagship residential project “Vincitor Blachio,” which was met with great enthusiasm by visitors, including end-users, investors, and local and international media. Through its exhibition platform, the company revealed the architectural features and distinctive characteristics unique to the “Fincitor Plashio,” and informed visitors about … Read more

Report: Financing, labor and recruitment are the main challenges for the Kingdom's construction sector

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Reading time: 2 Minutes The Saudi construction sector faces many internal challenges, chief among them being financial pressures, labor shortages, and government measures to limit the recruitment of foreign workers, as well as reduced spending on development projects and the priorities set forth in the 2030 Economic Transformation Plan, This has led to a severe crisis and the likelihood of restructuring for many large and medium-sized construction companies, and portends the exit of a large number of companies… Read more

Saudi Electricity Company (SEC) signs agreements with three local banks

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Reading time: < 1 Minute  Saudi Electricity Company has signed a five-billion-riyal financing agreement with three local banks—including Samba Bank, Al-Ahli Bank, and Banque de France to finance its expansion projects in the electricity sector. This comes several months after the company signed a five-year direct commercial financing agreement worth 5.6 billion riyals with the Industrial and Commercial Bank of China (ICBC) … Read more

Recent Report: Digital Technologies Are Transforming the Real Estate Market and Positively Impacting Customer Satisfaction

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Reading time: 3 MinutesThe real estate sector in the Gulf Cooperation Council (GCC) countries has experienced remarkable growth in recent years, maintaining resilience and responsiveness despite recent global fluctuations in oil prices. In the United Arab Emirates, the real estate sector is expected to continue growing at a compound annual growth rate of 6.4 percent between 2015 and 2019. While … Read more

Riyadh acquires 26% of the Kingdom's white lands with an area equivalent to 504.4 thousand square hectares

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Reading time: < 1 MinuteStatistics released by the Ministry of Municipal and Rural Affairs indicated that the area of undeveloped land in Saudi Arabia reached approximately 1.91 million square hectares in 1436 AH, The statistics showed that the total area of used residential land was 1.33 million square hectares, while the total area of planned residential land was 855,500 square hectares. According to the statistics, the Riyadh region ranked first in terms of area … Read more

Completed all preparations. The Real Estate Development Fund will launch the accelerated loan for beneficiaries in the coming days

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Reading time: < 1 MinuteThe Real Estate Development Fund has finalized all arrangements to launch its accelerated loan product for citizens applying to the Fund in the coming days, in partnership with Al Rajhi Bank. The accelerated loan targets citizens who remain on waiting lists, providing them with immediate financing for ready-to-move-in residential units, whether villas or apartments, in accordance with the criteria and requirements previously established by the Real Estate Fund. The “accelerated loan” product is considered one of … Read more

Special Report: 51 Hotels Under Construction and Development in the Kingdom to Open in 2017

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Reading time: < 1 MinuteA report specializing in the hotel and hospitality sector projected that 316 hotel projects would open in the Middle East and North Africa region in 2017, adding approximately 85,000 new rooms. The UAE topped the “Overview of Hotel Construction in the Middle East and Africa” report issued by Top Hotel Projects, with approximately 59 hotel projects (20% of the development projects mentioned), followed by … Read more

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