Month: November 2016

Saudi investment projects in Sudan are valued at more than $26 billion

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Reading time: < 1 MinuteSaudi investment projects in the Republic of Sudan have seen significant growth, rising to 512 projects worth more than $26 billion. Osama Faisal, the Sudanese Minister of State at the Ministry of Investment responsible for Saudi and Gulf investments, explained this in a press statement, noting that the projects in question are distributed across three sectors—manufacturing, agriculture, and services—and pointing out that … Read more

Under the patronage of the Custodian of the Two Holy Mosques, the Arab International Mineral Resources Conference kicks off in Jeddah

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Reading time: < 1 MinuteThe Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, may God protect him, is sponsoring the 14th Arab International Conference on Mineral Resources, organized by the Ministry of Energy, Industry, and Mineral Resources at the Hilton Jeddah Hotel,from November 22–24, 2016, in coordination with the Arab Organization for Industrial Development and Mining. Ahmed bin Mohammed Faqih, Acting Assistant Minister for Mining Investments, confirmed that this conference … Read more

Enforcing the requirement for contractors to be members of the Saudi Contractors Authority to enter tenders

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Reading time: < 1 MinuteWell-informed sources have indicated that a requirement for contractors to become members of the Saudi Contractors Authority will soon be implemented, in order to allow them to compete for government project bids. This step is intended to strengthen the Authority’s role in reorganizing the contracting sector in accordance with principles and guidelines that align with the sector’s economic aspirations and objectives. For his part, the president of the Arab Contractors Union and a member of … Read more

The number of trade shows and conferences in Saudi Arabia increased by 55 %

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Reading time: < 1 MinuteThe first half of 2016 saw a 55 % increase in the number of exhibitions and conferences in the Kingdom compared to the same period last year.  Ziad Ali Al-Mushayqih, Secretary General of the Al-Qassim Chamber of Commerce, explained that organizing exhibitions and conferences has evolved into a specialized industry and has become a focus of the Kingdom’s efforts to diversify its sources of income, as it is one of the professional fields… Read more

Next Wednesday, under the patronage of the Minister of Housing, Riyadh will host the Kingdom’s first facilities management conference

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Reading time: 2 MinutesHis Excellency the Minister of Housing, Mr. Majid bin Abdullah Al-Hogail, will open the first Facilities Management Conference in the Kingdom, which will be held in the capital, Riyadh, on November 23–24, 2016, at the Raffles Kempinski Hotel. The Minister of Housing’s patronage of the conference is part of the Ministry of Housing’s ongoing efforts to develop the housing sector through facilities management, which will be implemented through the Landlords’ Union program… Read more

The Ministry of Housing Is Issuing a Tender for the Construction of Several Thousand Housing Units in Sharqia

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Reading time: < 1 MinuteThe Ministry of Housing has finally issued a tender for the construction of 5,000 housing units in the city of Dammam, open to local real estate developers. The construction costs for apartments in the new project, located on Dammam Road – Riyadh Road, range from 280,000 to 500,000 riyals, with floor areas ranging from 125 to 500 square meters. Earlier this month, the Ministry of Housing signed … Read more

Draft law gives families of martyrs of duty priority in «real estate» and land

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Reading time: < 1 Minute   The Security Committee of the Shura Council, chaired by Major General Abdullah Al-Saadoun, has completed its review of members’ comments and opinions regarding the draft regulation on martyrs in the line of duty and those deemed equivalent to them. According to the final draft of the regulation, its provisions apply to any military or civilian personnel who were assigned, seconded, or contracted to work abroad on a regular basis, and who died or became disabled there, provided that the death or disability was caused by … Read more

More than 12 thousand housing units owned by Saudis in Turkey

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Reading time: < 1 MinuteFikret Özar, the Turkish Consul General in Saudi Arabia, revealed that Saudis own approximately 12,000 residential units in Turkey, comprising both apartments and villas, while the number of plots of land owned by Saudis stands at around 3,000. Ozar explained that the number of properties owned by Saudis in Turkey is distinct from other real estate investments, as there are broader investments through … Read more

The Bahraini real estate market remained largely stable through 2017

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Reading time: < 1 Minute A recent report revealed that Bahrain’s real estate sectors showed remarkable stability during the second half of the year, a trend that is likely to continue into 2017, despite the economic slowdown, which continues to pose a challenge to the real estate markets. A report titled «Outlook for the Real Estate Market in Bahrain,« published by Cluttons, a real estate consulting firm, noted that »the high resilience … Read more

Residential rents in Qatar are falling by 30%

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Real Estate Transaction Value Real Estate Index

Reading time: < 1 Minute Residential rents in Qatar are continuing to decline,  Abdulrahman Al-Najjar, Executive Vice President of Sak Holding Group, explained, “Even if they don’t fall, their stability implies a decline, since there is supposed to be an annual increase of 10% – 20%, but this year that increase has not materialized, and in our assessment of the market, we consider the lack of an increase to be a decline,” he noted … Read more

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