Month: May 2017

The train project is 54 %% complete... The Riyadh Development Authority approves a series of important plans and projects

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Reading time: < 1 MinuteA meeting of the High Commission for the Development of Riyadh approved a series of important plans and projects for the residents of Riyadh and reviewed the progress of the Riyadh Metro project, which is 54 % complete. The project is proceeding smoothly and according to schedule, and has already overcome its most challenging phases. This was stated by Prince Faisal bin Bandar bin Abdulaziz, Governor of … Read more

The Shura Council is considering exempting those unable to repay their mortgages

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Cabinet of Ministers

Reading time: < 1 MinuteThe Shura Council has begun a study regarding exemptions for those unable to repay mortgage loans. The study includes covering a portion of the installments to assist low- and very-low-income individuals. The Real Estate Development Fund is conducting a study in cooperation with the Ministry of Justice regarding borrowers in arrears, noting that the Fund has a specific mechanism for addressing low-income individuals who are unable to repay their loans. The study indicated that … Read more

Sheikh Saleh Al Rajhi's estate revives the real estate market The second auction in Jeddah sells two commercial centers worth more than 385 million riyals in 4 hours

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Reading time: 3 Minutes  The real estate auctions of the estate of Sheikh Saleh bin Abdulaziz Al Rajhi, may Allah have mercy on him, continued to restore confidence in the real estate market, as the second auction in Jeddah, in western Saudi Arabia, achieved remarkable success with the sale of two commercial centers with a total area of 18,869 square meters for a total value of 385 million riyals at the public auction held today, Saturday … Read more

The second auction takes place this afternoon in Jeddah... Itqan Real Estate and the Liquidation Board excel in marketing and organizing the first auction

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Real estate auction

Reading time: < 1 MinuteThrough careful planning, Itqan Real Estate, the exclusive marketing agent for the estate, achieved great success in marketing the properties and estate of Sheikh Saleh bin Abdulaziz Al-Rajhi, may God have mercy on him, in cooperation with the Liquidation Council. The advertising campaign comprised several phases, most notably the Cityscape exhibition in Qatar, where the estate’s state-of-the-art booth generated significant buzz and positive feedback regarding the properties that … Read more

Abdulaziz Alissa, editor-in-chief, writes: Will the market swallow the upcoming auctions?

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Reading time: 2 MinutesIn less than four hours, the first auction of the estate of Sheikh Saleh Al-Rajhi—may God have mercy on him—achieved unprecedented success, with its final results demonstrating the strength of the Saudi real estate market in preserving its assets and attracting domestic capital to continue investing in this sector. Credit is due to the company marketing the estate and the liquidation board for their excellent and meticulous preparation of the proceedings… Read more

Zart Properties... Bahraini firm Bin Faqih Expands into the Saudi Market and Opens Its First Offices

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Reading time: < 1 Minute  A high-level delegation from Amlak Real Estate Newspaper, led by Mr. Abdulaziz Al-Issa, Editor-in-Chief, paid a visit to Bin Faqih Real Estate Investment Company in Bahrain. The two sides discussed avenues for cooperation and joint ventures, as well as the possibility of the company entering the Saudi market. The meeting also addressed modern marketing techniques and programs, the economic conditions in the region, and the lucrative returns on real estate investment. Both parties expressed their appreciation for the flourishing economic and tourism relations… Read more

 “Tilal City attracts investors and pumps AED 2.4 billion into the city as an integrated residential destination

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Reading time: 2 Minutes“Tilal Real Estate,” a leading real estate development and investment company and the top developer of residential complexes and freehold projects in the Emirate of Sharjah, its flagship project, “Tilal City”—the first mixed-use development of its kind in the emirate, with a total investment of 2.4 billion dirhams—with the aim of introducing a new category of real estate that meets the needs of the sector in the emirate and allows all segments of society to benefit from its advantages… Read more

Ministry of Finance: 26 billion general budget deficit in the first quarter of 2017

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Reading time: < 1 MinuteData released by the Ministry of Finance in its report on the first quarter of the general budget for the current year, 2017, showed that revenues amounted to 144 billion riyals and expenditures to 170 billion riyals, while the fiscal deficit stood at 26 billion riyals, representing a 71 % decrease compared to the deficit for the same period last year, indicating that it was financed from the current account. Total revenue for the first quarter was 144.1 billion riyals, up … Read more

Under the patronage of Prince Mishaal bin Majid, the Jeddah Chamber of Commerce honors “Jabal Omar” for sponsoring the Reckon International Shopping Forum

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Reading time: < 1 Minute  Under the patronage of His Royal Highness Prince Mishaal bin Majid bin Abdulaziz, Governor of Jeddah, Sheikh Saleh Kamel, Chairman of the Board of Directors of the Jeddah Chamber of Commerce and Industry, honored Jabal Omar Development Company for its platinum sponsorship of the RECON International Shopping Forum and Exhibition at the Hilton Jeddah. The commemorative plaque was received by Mr. Ibrahim Abdulhaq Al-Balushi, Head of the Marketing and Corporate Communications Division, in the presence of … Read more

With the aim of protecting all parties, Ibhar Academic Center offers a course on balanced real estate investment contracts

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Reading time: < 1 Minute   In the presence of a large number of law students, real estate investors, and others interested in the field, the specialized training course on drafting balanced real estate investment contracts to protect both contracting parties concluded last Tuesday evening. The three-day course was held in the lecture hall at the Ibhar Academic Center for Management Training. The course, which was led by Dr. Farnas Abdel-Baset, legal advisor … Read more

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