Month: January 2017

Industrial Fund provides eight billion riyals to finance 155 industrial projects

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Reading time: < 1 MinuteThe number of approved industrial loans provided by the Saudi Industrial Development Fund reached 155 by the end of the fiscal year 1437/1438/2016, with total financing of 7,943.2 million riyals and total investments of 17,082.9 million riyals. Abdulkarim Al-Nafea, Director General of the Industrial Fund, attributed the continued financing of industrial projects to the significant support the Fund receives from the government of the Custodian of the Two Holy Mosques, which has made industrial development a priority in … Read more

Recorded 595 million square meters White Land Fees Committee receives 53 requests for exemption from fees in Riyadh

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Residential plot

Reading time: < 1 MinuteThe White Land Fees Committee has received 53 requests for fee exemptions in the city of Riyadh alone. This was stated by Mohammed Al-Madiheim, advisor to the Minister of Housing and supervisor of the White Land Fees Program, who noted that these requests are currently under review and will be decided upon shortly.He noted that data related to the city of Jeddah has been sorted and that work is underway to verify the deeds, adding that the region … Read more

“Itmam Holding” and ”Al-Faleh Real Estate Investment” Agree to Market Projects in Al-Khobar and Dammam

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Reading time: < 1 MinuteEtam Holding has signed a partnership agreement with Al-Faleh Real Estate Investment Company to market a number of real estate projects in the Eastern Province, as part of its strategy to expand into key projects in the region.  On this occasion, Ahmed Al-Muheish, CEO of Etam Holding, stated that they are pleased to collaborate with Al-Faleh Real Estate Investment Company to market the Al-Hafiz project in Dammam and the Al-Bayt project in Al-Khobar, given the company’s … Read more

Riyadh Housing Cooperative Association launches its programs at “Eastern Real Estate Restatex”

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Reading time: < 1 Minute  The Riyadh Cooperative Housing Society reaffirmed its support for the Ministry of Housing in achieving its goals of providing adequate housing for citizens. The Society stated, during its participation in the Restatex Eastern Exhibition, which concluded last Thursday, that it is making intensive efforts to ensure the success of its housing programs by inviting those wishing to own a home to make financial contributions to the Society. In turn, Dr. … Read more

Nominated for Cityscape Award, Majd Square is the best architectural design at Restatex Sharqiya

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Reading time: < 1 Minute  Majd Real Estate won the Best Architectural Design Award for 2016 at the Restatex Eastern Province Exhibition for its flagship project, “Majd Square,” in Jubail. His Royal Highness Prince Saud bin Nayef, Governor of the Eastern Province, presented the commemorative award plaque to Mr. Ibrahim Al-Majdouei, CEO of Majd Real Estate. Commenting on winning the award, Ibrahim Al-Majdouei explained that the project… Read more

 Ratal Urban Development signs an agreement with “Bedaya Home Financing” offering special benefits

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Reading time: < 1 Minute  On the sidelines of the Restatex Real Estate Exhibition in the Eastern Province, Retal Urban Development Company signed an agreement with Bedaya Home Finance to provide financing solutions and streamline procedures. The agreement offers a special promotion that exempts beneficiaries from administrative fees and provides financing at a murabaha rate of 2.991%. On this occasion, the Chairman of Retal Urban Development Company, Eng. Abdullah Al-Buraikan, confirmed that the company offers through … Read more

During Restatex Sharqiya Real estate price index ends the phenomenon of fictitious real estate deals

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Value of real estate transactions

Reading time: < 1 MinuteAn official from the General Authority for Statistics confirmed that fictitious real estate transactions are on their way out as a result of the shift to electronic transaction registration.  Ibrahim Al-Humaizi, Director General of the Department of Methodology and Statistical Coordination at the General Authority for Statistics, explained that the current percentage of fictitious real estate transactions is not significant.  He made these remarks during a workshop titled “Real Estate Price Index” as part of the “Restatex” exhibition … Read more

Highlighting the “Sakani” program… The Cabinet approves the regulations governing the practice of engineering professions and the Arab Housing Strategy

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Cabinet of Ministers

Reading time: < 1 Minute  During its meeting chaired by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud—may God protect him—at Al-Yamamah Palace last week in Riyadh, the Cabinet noted the Ministry of Housing’s announcement of the launch of the first phase of the “Sakani” program, which includes 280,000 housing and financing products for allocation and delivery across all regions of the Kingdom, comprising 120,000 units … Read more

During RestaX East, Al-Ahli Bank Wins the Award for Best Mortgage Program in the Eastern Province for 2016

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Reading time: < 1 Minute Al-Ahli Bank was awarded the «Best Retail Mortgage Program in the Eastern Province for 2016» for achieving the highest sales volume in the Eastern Province and its ability to provide outstanding financing solutions, This announcement was made during a ceremony held recently on the sidelines of the Restatex Eastern Region Real Estate Exhibition under the patronage of His Royal Highness Prince Saud bin Nayef bin Abdulaziz, Governor of the Eastern Region … Read more

Workshops and discussions revealed milestones Restatex Eastern Real Estate Exhibition concludes on Thursday evening

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Reading time: < 1 MinuteWith a large turnout of interested parties, experts, representatives of government sectors, leaders of the real estate and housing investment sectors, local finance companies and banks, and prominent figures, the Restatex Eastern Real Estate Exhibition 2017 continued its activities in its third edition, which was launched by His Royal Highness Prince Saud bin Nayef bin Abdulaziz, Governor of the Eastern Province, last Sunday morning at the Dhahran International Exhibition Center. The event witnessed … Read more

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