Month: August 2017

Ministry of Commerce launches Meraas Unified Service Center and offers 40 government services to investors

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Reading time: < 1 MinuteIn the presence of 16 government agencies, His Excellency Dr. Majid bin Abdullah Al-Qasabi, Minister of Commerce and Investment and Chairman of the Executive Committee for Improving Business Performance in the Private Sector, inaugurated the Unified Service Center for the “Marras” initiative yesterday. The center provides 40 e-services from relevant government agencies in a single location, starting with business operations, and includes comprehensive service centers with a single point of access to services… Read more

Granting licenses to foreign companies will increase the localization rate in the engineering sector and boost its contribution to the national economy

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Reading time: < 1 MinuteDr. Majid Al-Qasabi, Minister of Commerce and Investment and Chairman of the Board of Directors of the General Investment Authority, affirmed that the Cabinet’s decision to approve the Authority’s authorization of foreign companies operating in the field of engineering and consulting services to operate in the Kingdom will increase the localization rate of engineering work and its contribution to the national economy, in addition to transferring the specialized expertise accumulated by these companies and what that represents in terms of … Read more

The Real Estate Fund confirms that the subsidized financing amounts have been deposited into beneficiaries' accounts... and the waiting period is limited to five years

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Reading time: < 1 Minute  The Real Estate Development Fund confirmed that the amounts allocated to the subsidized financing program will be deposited into the beneficiary’s account immediately after each installment is paid, in accordance with the installment plan, for a period of up to 300 months, or 25 years, refuting media reports that the financing goes directly to the banks. The Fund said in a press release, “Out of the Real Estate Development Fund’s commitment to … Read more

19,000 women on the Real Estate Fund list. There are no special requirements for them to apply

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Real estate fund

Reading time: < 1 MinuteThe number of applications submitted by women to the Real Estate Development Fund’s waiting lists has reached approximately 19,000. Hamoud Al-Osaimi, the Fund’s official spokesperson, explained that numbers are assigned to women based on their order on the waiting lists, emphasizing that there are no special requirements for women. Al-Osaimi noted that the Fund is not accepting any new applications at this time, as all … Read more

Articles from Amlak Newspaper... By Muhammad bin Malik al-Ahmad: A Review of the Real Estate Market

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Reading time: < 1 Minute  Developing countries seek to bolster their economies through domestic revenue by regulating emerging markets, enacting strict laws and regulations to close the gaps and loopholes that cause chaos and distort investment. which may seem unfair in their early stages but will ultimately have a positive impact on the growth of these markets. Despite the efforts of those in charge of the real estate market, there are factors that have caused a shake-up… Read more

185,000 hotel rooms to welcome this year's pilgrims in Makkah

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Reading time: < 1 MinuteMore than 185,000 hotel rooms classified according to the Authority’s standards—which are in line with the highest internationally recognized accommodation standards—are preparing to welcome pilgrims during this year’s Hajj season, The General Authority for Tourism and National Heritage has called on all investors in the pilgrim accommodation sector to classify their facilities in accordance with the classification system approved by the Authority… Read more

Step by Step Step Home Episode ( 57 )

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Reading time: 2 MinutesOnce the necessary groundwork for plumbing, electrical, and HVAC work has been completed, and a contractor has been hired to handle the project’s plastering, steel door frames are installed during this period. These steel frames are used for the fence entrances and the main building entrances exposed to the elements. It is advisable to use frames equipped with weatherstripping for the entrance doors, as the weatherstripping significantly helps to reduce… Read more

Based on real estate market trends and statements made seven years ago... Ayed Al-Ayed: Supply in the residential sector will be greater in five years... and there will be attractive offers in the commercial sector

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Reading time: 4 MinutesThe Amlak Real Estate newspaper is republishing its interview with Mr. Ayed bin Abdulrahman Al-Ayed, may God have mercy on him, the General Manager of the Al-Ayed Industrial Group, which was conducted seven years ago. The interview was characterized by its fluidity and boldness of approach, as the man is confident in the substance of his answers and recounts stories of his achievements with a charming smile that underscores his character and tenacity in realizing his ambitions. Al-Ayd, may God have mercy on him, emphasized that … Read more

The Ministry of Commerce warns the public against trading and investing in Forex and on suspicious websites  

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Reading time: 2 Minutes  The Ministry of Commerce and Investment, in collaboration with the Capital Market Authority and the Saudi Arabian Monetary Authority, announced the launch of an awareness campaign warning against dealing with suspicious websites that promote investment in securities without obtaining the required licenses from the relevant authorities, including forex trading. The campaign will include awareness messages from the three entities, along with the implementation of measures … Read more

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