Month: July 2017

Prince Khaled Al-Faisal reveals the details of the Al-Faisaliah project in Makkah, the airport, seaport and tourism are its most important features

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Reading time: < 1 MinutePrince Khalid Al-Faisal, Advisor to the Custodian of the Two Holy Mosques and Governor of Makkah, revealed in a press conference held yesterday the details of the Al-Faisaliah project, which is located west of Makkah and extends to the Red Sea. Prince Khalid Al-Faisal explained that the project will be carried out in 7 executive stages to be completed in 2050, indicating that the project is an extension of the city of Makkah ... Read more

Ministry of Justice issues directive banning encroachments, construction, evacuations and contracts in AlUla governorate

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Ministry of Justice

Reading time: < 1 MinuteThe Ministry of Justice has issued a directive to the competent authorities to prevent encroachments and developments of any kind in AlUla governorate. According to the sources, the directive also included stopping the issuance of any ownership documents or sukuk in the governorate, stopping the emptying of all lands and properties, as well as farms, and stopping the issuance or renewal of any licenses, permits, leases, or licenses to drill wells. Read more

In the presence of the Ministers of Economy, Labor, Housing and Communications Statistics Authority launches the National Statistical Indicators Bank

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Reading time: 2 Minutes  His Excellency the President of the General Authority for Statistics (GASTAT), Dr. Fahad Al-Tukhaifi, confirmed that the National Statistical Data Program “Masdar” The program is a bank of national statistical indicators to support decision makers and policy makers. This came during the launching ceremony of the program in Jeddah, which was attended by His Excellency the Minister of Economy and Planning Eng... Read more

Wafi approves the marketing of four projects in Dubai

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Reading time: 2 MinutesThe off-plan sales and leasing committee “Wafi” issued four licenses to market off-plan properties in real estate development projects in Dubai, United Arab Emirates, after the companies completed the statutory requirements to obtain marketing licenses for these projects. The Secretary General of the Wafi Committee for Sale and Leasing on the Map, Mohammed bin Saud Al Ghazwani, explained that obtaining a marketing license on ... Read more

Ministry of Housing invites real estate professionals to the launch ceremony of the Saudi Real Estate Institute on August 2

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Reading time: < 1 MinuteThe Ministry of Housing has invited real estate professionals and specialists to attend the launch ceremony of the Saudi Real Estate Institute in Riyadh on Wednesday morning, Dhu'lqa'dah 9, 1438 AH. Corresponding to August 2. The institute is the first scientific body and entity specialized in providing real estate science through optimal educational content, as it works to raise the knowledge and cultural level of those working in the real estate market by providing ... Read more

“Emaar Properties invites specialized contracting companies to submit their bids for Mina Al Khor tower

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Reading time: < 1 MinuteEmaar Properties has invited specialized contracting companies to submit their bids for key works in the construction of the Mina Al Khor tower. The move reflects the company's desire to complete the tower before 2020 and indicated that Emaar wants to provide pre-construction services within a period of 6 months. In early February 2016, Emaar Properties unveiled the Al Khor Tower project, which is comparable to ... Read more

Ministry of Finance Sukuk applications exceed coverage by 300% with investments of 51 billion riyals

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Reading time: < 1 Minute  The Ministry of Finance revealed the total number of subscription requests for the local government Sukuk, which amounted to SAR 51 billion, confirming the high demand from investors, while the issuance size was set at a total of SAR 17 billion, with a coverage ratio of 300%. The strong demand for the local Sukuk comes as a confirmation of ... Read more

Statistics Authority reveals second quarter real estate prices fell by 8.6%  

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Reading time: < 1 Minute  The General Authority for Statistics (GASTAT) revealed that the real estate price index for the second quarter of 2017 decreased by 8.6%, compared to the second quarter of 2016, on an annual basis, while it decreased by 0.6%, compared to the first quarter of 2017. In a statement, the authority attributed the annual decline to changes in the constituent sectors of the index to a decrease in the residential sector by 7.9%, and was ... Read more

Minister of Commerce and Investment Launches Project and Strategy Performance Dashboard

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Reading time: < 1 MinuteThe Minister of Trade and Investment, Dr. Majid Al-Qasabi, inaugurated on Sunday morning the project and strategy performance measurement board for the Trade and Investment System, which is concerned with following up the system's performance indicators and its strategic objectives related to Vision 2030 and Vision 2020, as the board displays and documents the performance of various initiatives and strategic projects in the system with direct integration between projects, initiatives and objectives to ensure follow-up and measure the progress of ... Read more

Ministry of Justice launches real estate ownership inquiry service in its online portal

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Reading time: < 1 MinuteRiyadh - Mohammed Bakhshan The Ministry of Justice has launched an e-service to provide full information on real estate ownership and its areas through e-services on the Ministry of Justice portal on the Internet. These services include inquiring about real estate ownership through the Ministry of Justice portal by entering the instrument number or plot number and the plan. On the main page of the e-services menu, select: Property Inquiry ... Read more

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