Month: April 2017

“Joik” Announces the Launch of the Third Edition of the “Covertec 2017” Exhibition This Coming October

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Reading time: 3 MinutesLast Monday, the Gulf Organization for Industrial Consulting (GOIC) hosted a press conference—organized by the Ibhar Group for International Exhibitions—to announce the launch date of the third edition of the “COVERTECH 2017” COVERTECH, which will be held this year from October 10–12, 2017, at the Doha Exhibition and Convention Center. Speaking at the press conference was Mr. Abdulaziz bin Hamad Al-Aqil, Secretary General of the organization… Read more

Dammam Tops the List of Cities with the Most Active Real Estate Transactions in 2017, with 2,138 Residential and 346 Commercial Transactions

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Reading time: 2 MinutesReal estate indicators from the Ministry of Justice, in its list of the most active cities by number and value of transactions by property type, revealed that Dammam topped the list of cities in the Eastern Province in both the residential and commercial sectors for the first quarter of 2017, In the residential sector, Dammam accounted for 2,138 residential real estate transactions with a total value of 2.15 billion riyals, and in the commercial sector, it accounted for 346 … Read more

GCC investors invested $130 billion in Britain in 2016, most of it in real estate

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Reading time: < 1 MinuteGulf investments in the United Kingdom reached $130 billion in 2016, with most concentrated in the real estate sector. This was confirmed by Abdul Rahim Naqi, Secretary-General of the Federation of GCC Chambers, who explained that there is a significant presence of Gulf investments in the UK, which has contributed to strengthening mutual trade between the two sides. He noted that the British government and the business community there are keen … Read more

“Euromoney Saudi Arabia to present executive summary on real estate investment trusts in May

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Reading time: < 1 MinuteThe Euromoney Saudi Arabia Conference is scheduled to take place on May 2 and 3 in Riyadh, while the executive summary on real estate investment trusts will be presented on May 1. The Kingdom is expected to see growth in major new investment opportunities in 2017, as new laws allow Saudi corporations to list their shares on the stock market, adding new momentum to the entire … Read more

Statistics Authority: Unemployment rate among Saudis rose to 12.3% by the end of the fourth quarter of 2016

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Reading time: 2 MinutesThe unemployment rate for Saudis stood at 12.3% at the end of the fourth quarter of 2016, a slight increase compared to the third quarter of the same year, when it was 12.1%, while the unemployment rate for the total population—Saudis and non-Saudis—stood at 5.6%, a slight decrease compared to the unemployment rate for the third quarter of 2016. The General Authority for Statistics revealed that the number of Saudi men and women seeking employment by the end of … Read more

Strategic Partnership Between the Saudi Contractors Authority and Al-Bawani Limited...

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Reading time: < 1 MinuteThe Saudi Contractors Authority signed a strategic partnership agreement with «Al-Bawani Limited,» which operates in the construction and building sector. The signing ceremony took place recently in Riyadh and was attended by Eng. Thabit Mubarak Al-Suwaid, Secretary General of the Authority; Eng. Fakhr Al-Shawaf, General Manager of the company; a number of Authority staff members; and officials from Al-Bawani Limited. Eng. Thabit Al-Suwaid welcomed this strategic partnership, which … Read more

Bosnia and Herzegovina's Minister of Security Visits the UAE and Praises Dar Al-Ta'laq Real Estate Company's Projects

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Reading time: < 1 MinuteBosnian Security Minister Dragan Mketič, who visited the UAE to attend a conference in Abu Dhabi, made a special visit to Dubai despite his conference commitments, accepting an invitation from the management of Dar Al-Ta’laq Real Estate Company, which recently opened a new branch in the UAE—its headquarters is in Kuwait, and it has a real estate project in Bosnia and Herzegovina. The company’s general manager, Ahmed Tammam, hosted a banquet… Read more

With 270 exhibitors participating, the Riyadh Travel Fair 2017 kicks off tomorrow, Friday, at the Al-Faisaliah Hotel

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Reading time: < 1 Minute  With the participation of 270 exhibitors from 55 countries at the regional and global levels, the 9th edition of the Riyadh Travel Fair 2017 kicks off tomorrow, Friday, This prominent international event will take place at the Al Faisaliah Hotel in Riyadh from April 7–10, 2017. The event will welcome leading travel industry figures, government officials, tour operators, and other stakeholders in the field, with expectations … Read more

“Housing” invites real estate developers to form partnerships to develop housing units.

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Reading time: < 1 MinuteAhmed Hussein Mandoura, Advisor to the Minister of Housing and CEO of the Private Sector Partnerships Unit, emphasized that the Ministry’s role will be that of regulator, facilitator, and overseer, which will contribute to the development of a range of programs that encourage the private sector to partner with the ministry, in line with Saudi Vision 2030 and the National Transformation Program 2020, which emphasize increasing homeownership rates and enacting a number of regulations … Read more

Ministry of Finance agrees to subsidize and finance housing for retirees, but requires salary transfer to the Retirement Institution

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Real estate finance

Reading time: < 1 MinuteThe Ministry of Finance announced its support for financing home purchases for employees and retirees covered by the “civilian and military” pension systems. This came in response to a request submitted by the Pension Authority, and the Ministry’s approval was circulated to all government agencies. The Ministry endorsed the Pension Authority’s request to issue the circular and streamline financing procedures by providing a salary transfer letter and securing it in favor of the Public Pension Authority at the bank, provided that the issuance is from … Read more

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