Month: August 2017

Real Estate Fund discusses with 13 banks the transfer of the deceased beneficiary's loan to the heirs

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Real Estate Fund - Real Estate Finance

Reading time: < 1 Minute The Real Estate Development Fund is working with 13 banks and finance companies to develop a mechanism for transferring a deceased beneficiary’s loan to one of the heirs, whether the heir is under 15 years of age or older. A source explained that this step comes after banks and mortgage finance companies refused to extend loans to this group due to the lack of financial income on the part of the heir requesting the loan transfer. The source noted that the Fund … Read more

Saudis Complete 5,366 Real Estate Transactions in Dubai Worth 12.5 Billion Dirhams Over 18 Months

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Reading time: < 1 Minute Saudis completed approximately 5,366 real estate transactions in Dubai during the period from January 1, 2016, to the end of June 2017 (one and a half years), with the value of those real estate transactions totaling approximately 12.5 billion dirhams (equivalent to 12.77 billion Saudi riyals). Reports issued by the Dubai Land Department revealed that Saudis ranked third on the list of leading real estate investors … Read more

Riyadh region accounts for 47% of National Exhibitions and Conferences Program events

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Reading time: < 1 MinuteA report issued by the National Program for Exhibitions and Conferences revealed that the Riyadh region accounted for (47%) of the events that received permits from the program during the second quarter of 2017, followed by the Makkah region (32%), and the Eastern Province (16%). Meanwhile, the total number of events—including conferences, forums, gatherings, and workshops—reached (2,756). These included meetings and training sessions … Read more

“Saudi Exports to participate in five international exhibitions this year

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Saudi exports

Reading time: < 1 Minute  The Saudi Export Development Authority is participating in GITEX Technology Week 2017 in Dubai from October 8–12, with a comprehensive booth designed to support the presence of Saudi products in global markets, open doors for the export of domestic goods, and help secure the Kingdom’s international market share, in line with the Kingdom’s vision to diversify sources of income for the national economy. In addition, … Read more

Recent report: Failure to include cement as a strategic industry will significantly affect the future profitability of companies

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Reading time: < 1 Minute  A recent report revealed that the ongoing weakness in the construction sector and current price levels, coupled with the government’s failure to classify the cement industry as a strategic industry in Saudi Arabia, will significantly impact the future profitability of cement companies. The report, issued by Al-Ahli Capital, added that the outlook for the cement sector in Saudi Arabia remains unclear. Al-Ahli Capital predicted that … Read more

Taif's tourism sector and hotels generate SAR 3 billion in revenue this summer

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Tourism - Taif Tourism

Reading time: < 1 MinuteInvestors in the tourism sector reported growth in the sector’s profits in Taif, with revenues reaching nearly 3 billion riyals during this year’s summer season, a figure not seen in years, due to the large influx of vacationers and tourists to the “City of Roses.” The extended end-of-school-year break also helped boost the province’s appeal to tourists. Markets and shopping centers across the city… Read more

“Itmam” Completes Approval of 45 Plans Covering 44 Million Square Meters for the Construction of 150,000 Square Meters

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real estate - building permits - projects - residential real estate development - projects - schemes - residential projects

Reading time: < 1 Minute With a total area estimated at forty-four million square meters, the Developer Services Center has “Itmam” has obtained approval for 45 development plans from the Ministry of Municipal and Rural Affairs, which will add at least 150,000 housing units. These will help meet the needs of citizens in a number of regions across the Kingdom, distributed across various cities, provinces, and centers throughout the Kingdom, as well as the approval of a comprehensive development plan in … Read more

150,000 companies in Zurich, Switzerland revive border trade centers with neighboring countries

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Reading time: < 1 MinuteThe city of Zurich is one of Switzerland’s most important economic centers, home to approximately 150,000 companies,  while the international trade sector occupies a prominent and leading position, as the country relies on foreign earnings amounting to 50% of the sector’s revenue through these strong investments, coupled with low tax rates, as is customary in the Western world, which further promotes the growth of this industry… Read more

The mansion of the founder of “Ford Motor Company” in New York is on the market for $175 million

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Reading time: < 1 MinuteReal estate agents have listed the most expensive mansion in New York’s Hamptons for $175 million. It spans 6,000 square meters and features twelve bedrooms and guest bathrooms, The mansion is owned by the family of the founder of Ford Motor Company. It is surrounded by green space and features a three-bedroom guest house, as well as playgrounds … Read more

“Real Estate Contributions” Plans to Sell 13 Million Square Meters… Penalties Expected for Shareholders Who Evade Obligations

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Reading time: < 1 MinuteMedia sources have revealed that the Real Estate Contributions Committee is working to sell approximately 13 million square meters of land. The sources explained that shareholders who have not responded to the committee using the contact information it has on file regarding their shares within two months will be placed on a wanted list and brought before the committee in accordance with established procedures, while those who have not responded to the committee within … Read more

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