Month: June 2017

Following trading sessions ahead of the holiday… Notable changes in the ownership structure of Al Rajhi Bank and ”Jabal Omar” and “Safra” shares”

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Reading time: < 1 MinuteAt the close of trading on Wednesday, June 21, 2017, the stock market saw minor changes in the performance of certain companies’ shares, as the stake held by the Suleiman bin Abdulaziz Al-Rajhi Endowment Company in Al-Rajhi Bank fell to 8.46%, a decrease of 0.74% from its previous stake of 9.2%, through the sale of 12 million shares. Meanwhile, Safra continued to reduce its stake in … Read more

The Ministry of Housing of the Kingdom of Bahrain Begins Distributing 4,200 Housing Units Across All Governorates

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Reading time: < 1 MinutePursuant to the decision of Prince Salman bin Hamad Al Khalifa, Crown Prince of the Kingdom of Bahrain and First Deputy Prime Minister, to distribute 4,200 housing units across all governorates of Bahrain, the Bahraini Ministry of Housing has begun distributing owner-occupied apartments in the residential buildings of the 207 Complex project in central Muharraq. The Undersecretary of the Ministry of Housing, Sheikh Abdullah bin Ahmed Al Khalifa, said in … Read more

Only 8 apartments left for sale... A tower in Miami, USA, equipped with private car elevators

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Reading time: < 1 MinuteReports indicate that a 60-story tower in Miami, Florida, called the Porsche Design Tower, overlooks Sunny Isles Beach, and is designed for businesspeople who don’t want to be far from their supercars, as the tower is equipped with private car elevators. Construction of the tower was completed in June 2016, and only eight units remain out of … Read more

The Ministry of Housing pumps more than 27 thousand residential and financial products in the fifth installment of the “Residential Program”

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Residential Program - Residential Properties - Land - Real Estate Finance

Reading time: < 1 MinuteThe Ministry of Housing continued to fulfill its commitment under the ”Sakani” program by developing, allocating, and delivering 280,000 housing units this year. In mid-June (June) the fifth batch of the “Sakani” program, comprising more than 27,339 housing units and financing options—a 32 percent increase over the fourth batch— while the total number of units launched to date stands at … Read more

The Kingdom's inclusion in the Morgan Stanley Index puts Saudi stocks in the global spotlight and attracts international capital  

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Reading time: < 1 Minute  The Capital Market Authority explained that the Kingdom’s inclusion in international indices, including the “Morgan Stanley” (MSCI) Emerging Markets Index, will entail several benefits, including supporting market stability and reducing volatility by promoting institutional investment—which increases the efficiency of the financial market—and enhancing the market’s attractiveness and liquidity, as it makes the Saudi financial market accessible to a large segment of investors … Read more

Ministry of Housing distributes Samba Financial Group's furnished housing units to beneficiaries

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Reading time: 2 Minutes  The Ministry of Housing will receive the fully furnished and ready-to-move-in housing units that Samba Financial Group implemented as part of Samba's community initiative to provide free and fully furnished housing units to needy groups in the community, and the Ministry will in turn distribute these units to the most needy families among the applicants for the Ministry's programs for the purpose of ... Read more

Specialized committees consider reviewing conditions and controls related to cement exports

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Building materials

Reading time: < 1 MinuteJihad Al-Rasheed, Chairman of the National Committee for Cement Companies at the Council of Saudi Chambers, confirmed that the committee has submitted requests to the concerned authorities, including the Ministry of Commerce, to cancel the condition related to the collection of the energy price difference on cement between local and international prices. Mr. Al-Rasheed explained that all other conditions are available, including the existence of a strategic stock of clinker in each factory, not ... Read more

Royal orders: Prince Abdulaziz bin Saud bin Nayef appointed Minister of Interior and Dr. Ahmed Al-Salem appointed Deputy Minister

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Reading time: < 1 Minute  The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud issued a number of royal orders this morning: Appointing His Royal Highness Prince Abdulaziz bin Saud bin Saud bin Naif bin Abdulaziz Al Saud as Minister of Interior. His Excellency Mr. Abdulrahman bin Ali Al-Rubayan, Deputy Minister of Interior, was relieved of his post. Appointment of HE Dr. ... Read more

Royal orders: Prince Mohammed bin Nayef relieved of his post; Prince Mohammed bin Salman appointed crown prince

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Reading time: < 1 MinuteThe Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, with the approval of the Allegiance Council, issued a royal decree on Wednesday, Ramadan 26, 1438 AH, corresponding to June 21, 2017, relieving His Royal Highness Prince Mohammed bin Naif bin Abdulaziz Al Saud of the Crown Prince, the post of Deputy Prime Minister and the post of Minister of Interior, choosing His Royal Highness Prince ... Read more

The value of the property is AED 1 million or more Dubai government sets conditions for property owners to reside in the emirate for two years

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Reading time: < 1 Minute  The Dubai government has set a series of requirements that property owners must meet in order to obtain residency, and *The National* newspaper revealed several of these requirements, including that the value of the property owned by the applicant must be at least one million dirhams. In addition, the property owner’s monthly income must be at least 10,000 dirhams, and this income must not be sourced from Dubai. The property owner applying … Read more

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