Month: January 2017

With local and foreign participants. Saudi Arabia's first specialized cement exhibition to kick off in April

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Reading time: < 1 Minute  In conjunction with a number of specialized exhibitions in the building and construction sector, Riyadh will host the first international exhibition for cement and concrete in late April at the Riyadh International Convention and Exhibition Center, the first exhibition of its kind specialized in cement, which is currently being prepared by Relations for International Exhibitions and Conferences with its international partners, the Arab-German Exhibition Company ... Read more

In line with the bank's expansion strategy Al Ahli Bank announces the opening of 25 new branches in 2016

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Reading time: < 1 Minute Al Ahli Bank has announced the opening of 25 new generation branches in various cities and governorates of the Kingdom during 2016, as part of its continuous endeavor to develop the banking experience for its customers and in line with the bank's strategic direction to open more new generation branches. For his part, Mr. Saeed Al Ghamdi, CEO, emphasized that this step comes as a continuation of the opening of more branches ... Read more

“Labor” launches the “Occupational Safety and Health Pioneers” award for the construction, industry and trade sectors

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Reading time: < 1 Minute  The Ministry of Labor and Social Affairs has identified three sectors targeted by the Occupational Safety and Health Pioneers Award, which are construction, industry and trade, noting that the data and reports of the last three years indicate that these sectors constitute the largest percentage of injuries and work accidents, so the award was focused on these sectors to raise awareness among employers and workers of the importance of ... Read more

Riyadh Development Company faces difficulties in completing the development and investment of Atika Market

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Reading time: < 1 MinuteRiyadh Development Company revealed that the second phase of the construction, investment, operation and maintenance of Atika Central Market, which constitutes 30 % of the project during the second quarter of 2017, and the company pointed out a number of obstacles and difficulties that it faced as a result of the presence of some services of extensions and networks for infrastructure that require relocation and relocation that delayed their completion, and the company ... Read more

Domestic demand declines, cement producers pull back on export orders due to rising fuel costs

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Construction cement.

Reading time: < 1 MinuteThe head of the National Committee of Cement Companies in the Council of Saudi Chambers revealed the disappointment of a number of cement-producing companies in exporting, as their desire faded due to the inadequacy of the specified energy price difference. Jihad bin Abdulaziz Al-Rasheed, chairman of the committee, said that there were six companies that applied for export before the price of the energy difference was set, which was too high to complete ... Read more

Saudi courts finalize financial cases worth 62 billion riyals in 3 months

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Ministry of Justice

Reading time: < 1 MinuteSaudi courts have succeeded in reducing the accumulation of financial bond cases, as their initial indicators in the Ministry of Justice exceeded 62 billion riyals during the past 90 days, with the Riyadh region ranking first in the volume of bonds and the Eastern Province fourth for the number of bonds that exceeded more than 15 thousand executive bonds with a value of more than 7 billion riyals. The ministry's data showed that the percentage of ... Read more

In 9 months, “Justice” returns 12 billion riyals to shareholders and discusses the failure of 169 real estate contributions

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Reading time: < 1 Minute Since mid-1437 AH, real estate contribution cases have witnessed a great movement in the corridors of the judicial bodies in the Kingdom, after the approval of the establishment of the department by His Excellency the Minister of Justice and Chairman of the Supreme Judicial Council, Sheikh Dr. Walid bin Mohammed Al-Samaani on Rajab 3, 1437 AH, where recent data issued by the Ministry of Justice represented by the Real Estate Contributions Department in the General Court in Riyadh yesterday revealed that ... Read more

With specific conditions... ”Off-plan Selling” approves advances from the escrow account for real estate projects

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Off-plan sales

Reading time: 2 MinutesAccording to specific conditions, the Committee for the Sale and Leasing of Real Estate Units on the Map in the Ministry of Housing announced that real estate developers can benefit from the escrow account for projects licensed to sell their real estate units before or during implementation, by requesting a financial advance from the escrow account allocated to deposit financial payments or any other financing for the benefit of the real estate project supervised by the developer himself. ... Read more

subject to off-plan sale. Anan Real Estate Company constructs The Boss office tower in Riyadh

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Reading time: 2 MinutesIn the largest real estate investment deal in Riyadh recently, Anan Real Estate Company signed an agreement with Opal Real Estate Company, which requires Anan to design, develop, construct and market The Boss office tower, which will be sold on the off-plan sales system as the first office showrooms to be offered for sale by this system. The office tower is located in a distinctive and strategic location in the area between ... Read more

124.4 thousand defaulters in the list. The Real Estate Fund reveals 30 billion riyals worth of non-performing loans

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Reading time: < 1 MinuteThe Real Estate Development Fund announced that it has listed 124.4 thousand loan defaulters on the lists of the Saudi Credit Information Company (SIMAH). Sources said that the value of the defaulted loans amounts to 30 billion riyals. The Minister of Housing had announced that the fund would resume loans by announcing the largest payment in its history next month, and it is known that the fund ... Read more

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