Month: January 2017

General Authority for Statistics: Saudi households' home ownership rate rises to 63.1%

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Reading time: 2 Minutes  A recent report revealed an increase in the number of Saudi households that own their homes, with the total number across all provinces reaching approximately 2.16 million, representing 63.1% of the total number of households, compared to approximately 1.17 million households renting their homes, representing 34.2%. Modern Construction Standards The specialized report issued by the General Authority for Statistics explained that the percentage of households owning their homes in … Read more

Malaysia first HolidayMe travel experts identify the top 11 destinations for 2017

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Reading time: 4 MinutesTravel experts at “Holiday Me” have revealed the 11 best tourist destinations for 2017, in line with new trends in the tourism industry that offer a fresh experience for discovering new worlds filled with hiking, sports, and swimming, where comprehensive services are available, including accommodations, comfortable transportation, and suitable restaurants. Malaysia topped the list, followed by the United Arab Emirates, while Saudi Arabia ranked … Read more

Ministry of Housing unveils first phase of Makkah's white land zone

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Reading time: < 1 MinuteThe Ministry of Housing has revealed the geographic scope of undeveloped land in Makkah in accordance with the first phase of the program. The Ministry of Housing stated that this phase covers undeveloped land designated for residential or residential-commercial use, with an area of 10,000 square meters or more, located within the geographic boundaries specified on the attached map. The Ministry called on owners of land located within the boundaries shown on the map … Read more

Ministry of Housing opens the door for foreign companies to compete for housing projects

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Ministry of Housing Projects

Reading time: < 1 MinuteThe Ministry of Housing announced that it has strengthened its partnership opportunities with foreign companies by allowing them to compete directly with national companies in housing construction, Well-informed sources explained that this step aims to increase competitiveness, introduce modern construction methods that provide the best building practices, strengthen partnerships between the local and foreign sectors, and attract the necessary talent to complete housing projects. The Ministry had … Read more

Egypt Offers to Sell Real Estate to Foreigners in Exchange for Temporary Residency... and Expects $5 Billion Annually

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Reading time: < 1 MinuteThe Real Estate Developers Chamber of the Federation of Egyptian Industries plans to launch three initiatives to support the sector. The first involves granting foreigners temporary residency in exchange for purchasing a property valued at approximately $250,000 or more. In this regard, Tarek Shukri, president of the Real Estate Developers Chamber at the Federation of Egyptian Industries, explained in press statements that this initiative is expected to … Read more

Saudi Contractors Authority invites all its members to attend the General Assembly meeting next Tuesday

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Reading time: < 1 MinuteThe Saudi Contractors Authority invites all its registered and full members to attend the first “General Assembly” meeting next Tuesday at the Council of Saudi Chambers of Commerce and Industry in Riyadh, Engineer Thabit bin Mubarak Al-Suwaid, Secretary General of the Authority, explained that the General Assembly is being held in accordance with the Saudi Contractors Authority’s regulations and is limited to inviting the Authority’s full members (Saudi contractors licensed to practice … Read more

The Real Estate Contributions Committee will soon start paying the shareholders of the Shalala scheme in Riyadh

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Reading time: < 1 MinuteThe Real Estate Contributions Committee at the Ministry of Commerce and Investment has called on shareholders in the Shalala project in Riyadh to update their information in preparation for the full disbursement of their entitlements from capital and profits, The committee stated that shareholders’ payments will be deposited directly into their bank accounts. The Real Estate Contributions Committee reported that dividends varied according to the value of the share at the time of contribution; shareholders with shares valued at 250 riyals received dividends equivalent to … Read more

Kuwaiti investor Abdullah Al-Rashdan plans to implement 170 housing units in Al Wesam scheme in Taif

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Reading time: < 1 MinuteKuwaiti businessman and investor Abdullah Al-Rashdan plans to develop a residential project comprising 170 housing units in the Al-Wisam district of Taif, Al-Rashdan highlighted Taif’s appeal to Gulf tourists due to its proximity to Mecca, its mild climate year-round, and the fact that it is a continuously growing tourist destination that Kuwaiti families visit every year. This announcement came during a visit by an investment delegation … Read more

Investment in Hail raises hotel accommodations to 14% this year

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Reading time: < 1 MinuteThe number of apartments and hotels in the city of Hail rose by 14% to more than 190 apartments and hotels in 2017 compared to last year, with a total capacity of 5,980 rooms, due to the high demand for investment in the lodging sector in the Hail region. The number of apartments and hotels rose from 45 apartments and one hotel in 2006 to 186 apartments and five hotels during … Read more

The Ministry of Housing Calls on Real Estate Developers to Implement the First Phase of the 2017 Projects

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Reading time: < 1 MinuteThe Ministry of Housing has called on real estate developers to boost the private sector’s contribution to the ministry’s program through the off-plan sales program (Wafi), and to partner in implementing the first phase of its projects for the year 2017, by participating in a competitive bidding process to design, market, construct, and deliver residential units within multi-story residential buildings on Ministry-owned land. The Ministry revealed that these projects include … Read more

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