Month: May 2017

Under the patronage of the Crown Prince, the Industrial Security Exhibition and Conference kicks off in Riyadh on May 21

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Reading time: < 1 MinuteWith the participation of more than 1,000 experts and specialists, His Royal Highness Prince Mohammed bin Nayef bin Abdulaziz, Crown Prince, Deputy Prime Minister, Minister of the Interior, and Chairman of the Supreme Commission for Industrial Security, is presiding over the Supreme Commission for Industrial Security Exhibition and Conference on Fire Protection, Firefighting, Occupational Safety, and Industrial Health in the Kingdom, organized by the Kingdom’s Supreme Commission for Industrial Security, from … Read more

Featuring an accompanying exhibition and seminars... The First Saudi Smart Cities Conference Kicks Off in Riyadh on May 16

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Reading time: < 1 MinuteUnder the auspices of the Ministry of Municipal and Rural Affairs, the “First Saudi Smart Cities Conference“ will be held from May 16–18 at the King Faisal Conference Hall in the Riyadh InterContinental Hotel, This event stems from the Ministry of Municipal and Rural Affairs’ initiative to transform Saudi cities into smart cities, which is one of the Municipal Transformation 2020 initiatives arising from the National Transformation Program 2030. The aim is … Read more

“Stars Al Salam Holding launches its residential project ”Ithmaar Al Aziziyah Villas” in Riyadh

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Reading time: 2 MinutesNujoom Al-Salam Holding Company has unveiled its residential project, ” Ithmar Al-Aziziyah Villas,” and the launch of its first phase, consisting of 45 residential units in the Al-Aziziyah neighborhood of Riyadh, covering an area of 7,000 square meters, with a variety of types and sizes to suit residents’ needs. The project is scheduled to be ready next October. The development is a full-service, high-density project in a prime location, close to major roads … Read more

Al-Khazama Company Allocates 1.1 Billion for the Development of the Al-Faisaliah Project with Italian Expertise... and 200 Million Riyals to Modernize the Center

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Reading time: < 1 Minute   Al-Khuzama Management Company announced that it has selected the Italian firm Salini Impregilo, (one of the world’s largest companies specializing in construction and infrastructure), to develop the Al-Faisaliah project and its assets, valued at 1.1 billion Saudi riyals, which include a shopping center, hotels, and commercial offices. The announcement of this contract marks another strategic step by Al-Khuzama Management Company toward realizing its modern vision, through which it seeks to … Read more

“Housing” targets businessmen to establish an endowment fund for affordable housing worth 10 billion riyals

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Reading time: < 1 MinuteWith a value of 10 billion riyals, the Ministry of Housing plans to establish an endowment fund for affordable housing with a target return exceeding the current rates of return on endowment investments, The initial size of the fund—through which the Ministry intends to provide specialized financing products to fund and support housing cooperatives—will be 500 million riyals, with a target return competitive with similar real estate investment funds in the region. The Ministry clarified that it aims to … Read more

The real estate market has not been affected by the new regulations... Khalid Al-Mubayyad: Al-Rajhi auction confirms the strength and resilience of the Kingdom’s real estate market

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Khalid Al-Mubaid - Amlak Real Estate - Amlak's Third Centennial

Reading time: < 1 MinuteThe results and sales figures from the first auction of Sheikh Saleh Al-Rajhi’s estate reflected the strength and capacity of the local real estate market to absorb more capital, bolstering investors’ confidence in their real estate strategies, thereby restoring hope among investors and businesspeople that they can inject liquidity into the Kingdom’s real estate market. In the same vein, real estate expert Khalid Al-Mubayyad, General Manager of Basma Real Estate Management, stated in … Read more

The 2017 Saudi Health Expo kicked off yesterday evening with the participation of more than 38 Arab and foreign countries

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Reading time: < 1 MinuteWith the participation of more than 38 Arab and foreign countries, the Saudi Health Expo opened on the evening of Monday, May 8, 2017, and will continue through Wednesday. Organized by Riyadh Exhibitions Co., Ltd., the event is being held at the Riyadh International Convention and Exhibition Center, in the presence of numerous ambassadors from participating countries and prominent figures, amid a large media turnout. Training sessions and lectures: The exhibition features training sessions … Read more

Saleh Al Rajhi's estate holds its second auction to sell the Saudi Business Center and Al Andalus Center in Jeddah Saturday

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Reading time: 2 MinutesFollowing the success of the first auction, the Real Estate Liquidation Council for the estate of Sheikh Saleh bin Abdulaziz Al-Rajhi, may God have mercy on him, in cooperation with Itqan Real Estate Company—the exclusive marketing agent for the estate— the second auction of the estate’s real estate properties will feature two properties in the city of Jeddah on Saturday, the 17th of Sha’ban 1438 AH, corresponding to May 13, 2017 AD. The auction will be held at the “Laylati” Hall … Read more

Ministry of Commerce Warns of Penalties for Companies That Fail to File Their 2016 Financial Statements

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Reading time: < 1 Minute  The Ministry of Commerce and Investment has renewed its call for companies to comply with the requirement to file their 2016 financial statements through the “Qawaem” electronic filing program via licensed accounting firms, accessible through the website qawaem.sa. At the same time, the Ministry warned of penalties for failure to file financial statements, which may include suspension of commercial registrations and the imposition of penalties specified in the law… Read more

Real Estate Fund launches subsidized financing program for applicants with a profit margin of 0%

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Real estate fund

Reading time: 2 MinutesWith a profit margin of 0%, the Real Estate Development Fund launched a campaign targeting citizens who have applied to the Fund—specifically, all citizens with an income of 14,000 riyals or less (up from the previous 11,000) to support all those registered on the fund’s waiting lists over the next five years; the loan amount is 500,000 riyals, in cooperation with banks and specialized mortgage finance companies. The program applies to … Read more

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