Month: July 2017

“Dhahran Expo organizes more than 10 exhibitions until the end of 2017

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Reading time: < 1 Minute  Abdulrahman bin Ibrahim Al-Jalal, CEO of Dhahran International Exhibitions (“Dhahran Expo”), announced that the company will host 10 major exhibitions by the end of 2017 at its exhibition centers in Dammam. Al-Jalal emphasized that the company is preparing well in advance to organize these important economic events, the most notable of which include: the Young Businesswomen and Businessmen Exhibition and Forum, the Saudi International Exhibition for Shipping, Transportation, and Warehousing, the ”Sanati” Productive Families Exhibition, and the … Read more

Al-Ahly Expresses Appreciation for the Custodian of the Two Holy Mosques’ Patronage of the Souk Okaz Cultural Festival

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Reading time: < 1 Minute  Mr. Mansour Al-Mayman, Chairman of the Board of Directors of Al-Ahli Bank, expressed his appreciation for the interest and patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz—may God protect him—toward the Souk Okaz Cultural Festival. On all major national occasions that reflect our beloved country’s glorious history and flourishing present, Al-Mayman emphasized that the Custodian of the Two Holy Mosques’ patronage of Souk Okaz reflects the extent of his commitment… Read more

Saudi Ceramics Company Appoints Sultan Al-Murshed as Head of the Marketing Department

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Reading time: < 1 MinuteSaudi Ceramics—one of the largest national companies operating in the sector of building and construction supplies and sanitary ware—announced the appointment of Mr. Sultan Al-Murshid as head of the company’s marketing department, His selection is based on his thorough knowledge of the Saudi market and his experience, which has been honed through professional and academic training. Al-Murshid is considered one of the national talents who has made his mark on the landscape of major companies by developing and implementing … Read more

Rental values for residential units and villas in Jeddah fall by 25%... and supply lags behind demand

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Jeddah Real Estate - Real Estate Index

Reading time: < 1 MinuteRental values for residential apartments in Jeddah have declined significantly, exceeding 25% in some residential neighborhoods, compared to previous years, attributing this to the impact of the severe recession currently affecting the sector, as some real estate experts have monitored rental price trends for residential units. For his part, Abdullah Al-Ahmari, chairman of the Real Estate Appraisal Committee at the Chamber of Commerce … Read more

The Council for the Liquidation of Sheikh Saleh Al-Rajhi’s Estate Announces the Resumption of Its Auctions and the Sale of Riyadh Gallery Following the Eid al-Adha Holiday

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Riyadh real estate

Reading time: < 1 MinuteThe Real Estate Liquidation Council for the Estate of Sheikh Saleh bin Abdulaziz Al-Rajhi, in cooperation with Itqan Real Estate—the exclusive marketing agent for the estate—announced the resumption of its auctions after Eid al-Adha, and the end of the Hajj season, so that the largest possible number of businesspeople and real estate professionals can attend and participate in the economic activity generated by the Al-Rajhi estate auctions. The fourth auction, which coincides with the return from … Read more

“Real Estate Contributions” Announces That 6 Contributions Seized by Aramco Are Outside Its Jurisdiction… and May Be Referred to the Competent Court

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Reading time: < 1 MinuteThe Real Estate Contributions Committee revealed in a statement issued yesterday by the Ministry of Commerce and Investment that the liquidation of six contributions in Dammam—located within Saudi Aramco’s seized properties—falls outside the Committee’s jurisdictional authority. The statement noted that the contributions in question are Golden Gate, Dammam Industrial, Namaa, Abu Hadriya Land, Jawahir Al-Nimr, and Dammam Industrial Land. According to the statement, the fact that the joint ventures fall outside the Committee’s jurisdiction … Read more

Specialized Report: General Decline in the Residential, Hospitality, and Commercial Space Market in Riyadh  

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Residential Land - Riyadh Future Projects - Real Estate

Reading time: 2 MinutesA specialized real estate report predicts that the supply of residential units in Riyadh will remain stable over the next three years, with 77,000 units expected to be completed (an average of 26,000 units per year). Sales prices for apartments and villas in Riyadh fell by 3 % during the second quarter of 2017 compared to the same period the previous year, according to … Read more

 Jabal Omar signs an agreement to develop a new hotel just meters away from the Haram

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Reading time: < 1 Minute  Mr. Yasser bin Faisal Al-Sharif, CEO of Jabal Omar Development Company, reaffirmed the company’s commitment to providing luxurious and exceptional hospitality services to pilgrims and visitors to the Holy City in accordance with the highest international standards. This announcement came during the signing of an agreement between Jabal Omar and Dubai Holding to develop the five-star “Jabal Omar Jumeirah Makkah” hotel in Makkah. Under the agreement, … Read more

Suspicious corporate behavior Identifying steps and mechanisms to minimize collusion in government tenders and contracts

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Reading time: 2 MinutesGovernment agencies are working in coordination with the Competition Council to curb collusion in government transactions and tenders by establishing new mechanisms and specific steps through the identification of patterns and indicators of collusion when entities submit bids. There are practices that suggest signs of collusion in tenders, with such cases being particularly prevalent in the subcontracting and project sectors… Read more

Al-Falih: The Industrial Energy City saves 22.5 billion riyals annually and promotes the localization of supporting service industries

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Reading time: < 1 MinuteThe Minister of Energy, Industry, and Mineral Resources, Chairman of the Board of Directors of Saudi Aramco, and Chairman of the Board of Directors of the Saudi Authority for Industrial Cities and Technology Zones (MODON), Engineer Khalid Al-Falih, revealed that the Industrial Energy City to be established in the Eastern Province will contribute 22.5 billion riyals to the gross domestic product annually. In addition to creating thousands of direct and indirect jobs. Al-Falih expressed his gratitude to the Custodian of the Two Holy Mosques … Read more

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