Month: July 2017

Real Estate Fund: The percentage of subsidized financing will not change with the increase in salary

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Reading time: < 1 MinuteThe Real Estate Fund (REF) has reassured those registered on its lists that the percentage of the Fund's support for beneficiaries of subsidized financing will not change if the salary rises. The fund explained that this is because the calculation of the subsidized financing ratio is based on the value of the beneficiary's salary at the time of obtaining the financing. The fund explained that all recipients of subsidized financing with a monthly income of 14,000 riyals ... Read more

Tens of billions have been spent on housing renovation and improvement over the past two years

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Reading time: 2 MinutesThe volume of consumer loans allocated for home renovation and improvement during 2015 and 2016 amounted to approximately 123 billion riyals and 129 billion riyals, respectively, before beginning to decline toward the end of the fourth quarter of 2016 to 29 billion riyals, according to data from the Saudi Arabian Monetary Authority (SAMA). This was accompanied by a decline in maintenance costs and rents in the residential sector. Multiple loans … Read more

Bank Al Jazira organizes «Personal Productivity» course for labor leaders in Hafar Al Batin

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Reading time: < 1 MinuteAl-Jazira Bank concluded its corporate social responsibility activities, represented by the “Khair Al-Jazira for the People of Al-Jazira” program, in collaboration with the Leadership Development Foundation, by conducting a course on “Personal Productivity” for a number of social work leaders in Hafar Al-Batin Governorate. Dr. Fahd bin Ali Al-Olayan, Head of the Corporate Social Responsibility Group at Al-Jazira Bank, explained that this course, in which sixteen trainees participated … Read more

Articles from Amlak, Issue No. 130... Abdulaziz Al-Issa writes: The Private Sector Faces the «Housing» Test»

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Reading time: 2 MinutesIn its policies toward the private sector, the Ministry of Housing has demonstrated a strong commitment to supporting its partnership with major real estate companies and developers and to advancing a number of ambitious initiatives and programs that were first outlined in the ministry’s strategic objectives. Accordingly, the Ministry announced in its phased plans the construction of 280,000 housing units in 2017 under the «Sakani» program, and it aims to complete … Read more

Mons Shujaa congratulates Crown Prince Prince Mohammed bin Salman... Towards further development, prosperity and leadership

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Dr.. Dr. Moans Shujaa writes about: Teamwork and Startups

Reading time: 2 MinutesMr. Mons Shujaa extended his warmest congratulations and best wishes to His Royal Highness Prince Mohammed bin Salman bin Abdulaziz on the occasion of his selection as Crown Prince, his appointment as Deputy Prime Minister, and his continued service as Minister of Defense. On this occasion, he said… “We pledge our allegiance to His Highness the Crown Prince, promising to listen to and obey him; we also congratulate His Highness on the royal trust placed in him by his selection as Crown Prince, affirming that the people and the leadership…” Read more

Saudi Courts Seize More Than 7,000 Properties Over Debts

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real estate

Reading time: < 1 MinuteOfficial statistics revealed that the number of properties seized by Saudi courts due to debt reached approximately 7,221 during the past eight months of the current Hijri year. Sources said that banks and companies registered 70% of these mortgaged properties as a result of borrowers taking out loans from them. They noted that courts in the Riyadh region recorded the highest percentage at 40 %, with the total reaching … Read more

Articles from Issue 130 of Amlak Real Estate Newspaper Dr. Hussam Youssef writes : Are you smart?

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Management - Intelligence - Management Science - Real Estate

Reading time: 2 MinutesHave you ever looked in the mirror and asked yourself, "Am I smart?" The question may have crossed your mind, perhaps with the same scenario, and your answer was of course that you are very smart, and when you ask yourself the reasons for the failures you have experienced in your life, you will immediately answer that luck, circumstances, fate and other things are the reason, and if we accept that you are a smart person ... Read more

For the purpose of building and purchasing educational buildings «Gulf Training and Education announces the establishment of an income-generating real estate fund

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Reading time: < 1 MinuteGulf Training and Education Company announced the establishment of a real estate income fund aimed at focusing on the education sector in the region, following the signing of a memorandum of understanding with Al-Arabi National Investment Company last week. The fund aims to construct educational buildings or purchase existing ones to develop the education sector in line with global trends. Gulf Training Company also plans to … Read more

Apartment rental prices expected to fall as real estate rental market stagnates due to the implementation of expatriate companion fees

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Grandma

Reading time: < 1 MinuteThe implementation of the ruling mandating the collection of a fee from male and female dependents of expatriate workers in the private sector has cast a shadow over the real estate sector, particularly the rental market, as many landlords have been adversely affected by foreign tenants vacating a large number of residential units, which have become vacant; this is due to the tenants’ desire to repatriate their families and their unwillingness to renew their lease agreements, as the decision stipulates the collection of an amount of … Read more

Dozens of Agreements Signed... The Ministry of Housing Shifts Responsibility for Providing Housing to the Private Sector

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Reading time: < 1 MinuteFollowing the Cabinet’s approval of the Ministry of Housing’s partnership program and the establishment of its new framework, the Ministry aims through this program to strengthen cooperation with qualified real estate developers—both local and international—to help increase the supply of housing units and bolster market supply, thereby contributing to the development of the and its advancement, thereby enabling citizens to own suitable housing at reasonable prices and of high quality. Responsibility lies with… Read more

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