Month: August 2017

These include submitting a bank statement covering a three-month period... The Real Estate Fund has set six conditions for a beneficiary to transfer a financing loan to a relative

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Real Estate Fund - Real Estate

Reading time: < 1 Minute  The Real Estate Development Fund has set six conditions that must be met for a beneficiary to transfer a loan issued to them by the Fund to a first-degree relative. According to the source, the conditions are as follows: 1. The person to whom the loan is to be transferred must be a male or female employee. 2 – If the father, brother, or son is married, he must be over 21 years of age. … Read more

After being listed yesterday. Al Mather REIT's units start trading  

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Reading time: < 1 MinuteYesterday, Tuesday, August 22, 2017, the Saudi market saw the listing and commencement of trading of units of “Al-Ma’athar REIT” in the real estate fund sector under the ticker symbol 4334, with a daily price fluctuation limit of 10%. The fund’s initial public offering was completed in the first week of last month, with a subscription rate of 1520%, while the total … Read more

Mulkia Gulf Real Estate REIT to launch its units on September 17

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Reading time: < 1 MinuteThe prospectus for the “Mulkiyah – Gulf Real Estate REIT” fund states that subscriptions to the fund will be available through several channels, and this is the first time that subscription to an investment fund has been opened to accept subscription applications through agents independent of the fund manager, in a manner that opens the door to participation by the widest possible range of investors. The subscription will be… Read more

Hajj Housing Committee issues 3902 permits to house pilgrims in the Holy Capital in more than 306,000 rooms

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Reading time: < 1 MinuteThe Hajj Housing Committee at the Holy Capital Secretariat has issued approximately 3,902 permits and renewals to date for pilgrim housing in the Holy Capital, to accommodate 1,745,614 pilgrims across 367,063 rooms with a total area of 7,102,367.05 square meters. In this regard, the Chairman of the Pilgrims’ Housing Committee at the Holy Capital Secretariat, Eng. Mazen Al-Sanari, explained that the Pilgrims’ Housing Committee is responsible for inspecting the buildings designated for pilgrim housing … Read more

Saudi Investment Bank Appoints Faisal Al-Omran as Deputy CEO

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Reading time: < 1 Minute  The Board of Directors of the Saudi Investment Bank has issued a resolution appointing Faisal Abdullah Al-Omran as Executive Vice President of the bank, effective August 20, 2017. Al-Omran is a banking professional with extensive experience in the financial sector, during which he has held leadership positions at the bank and its subsidiaries and affiliates, most recently as Head of the Treasury and Investment Group … Read more

The market value of real estate funds rises by 39% to reach 2.17 billion riyals

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Real estate projects

Reading time: < 1 Minute  Reports indicate that the market value of the real estate fund sector (four funds) has risen by 39 percent since their listing on the market, from 607 million riyals to 2.17 billion riyals, compared to the funds“ nominal value (their size or capital), which stands at 1.56 billion riyals. The increase in market value resulted from a rise in the unit price of the ”Riyadh REIT” to … Read more

Sheikh Zayed Housing Program signs contracts for the construction of 729 houses worth a total of AED 1 billion

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Reading time: < 1 MinuteThe Sheikh Zayed Housing Program in the United Arab Emirates has signed construction, completion, and maintenance contracts for the Al-Muntazah Residential Complex project with China State Construction Engineering Corporation (CSCEC) in the Middle East and Debco Construction. The residential complex is located in the Mohammed bin Zayed area between Sheikh Zayed Road and Sheikh Mohammed bin Zayed Road on a land area of 954 million square meters and comprises 729 … Read more

The Kingdom accounts for 50% of the franchise market share in the Middle East

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Franchise Market

Reading time: 2 MinutesThe magazine *Al-Iqtisad*, published by the Eastern Province Chamber of Commerce, revealed that the size of the franchise market in the Middle East is estimated at $30 billion,  with the Kingdom’s share estimated at approximately 50%. Consequently, further activity is expected in this sector, particularly in light of Vision 2030, one of whose pillars is supporting those wishing to invest in the franchise system, noting … Read more

With a capital of 6.09 billion riyals. The Capital Market Authority approves the offering of units of Alinma Makkah Real Estate Fund

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Trading

Reading time: < 1 MinuteWith a capital of 6.09 billion riyals, the Capital Market Authority has approved the public offering of units in the Makkah Real Estate Development Fund following a request submitted by Al-Inmaa Investment Company, with the fund’s term set at five years, extendable for a similar period. The Al-Inmaa Makkah Real Estate Fund is a closed-end, publicly offered income-generating real estate investment fund that complies with the standards … Read more

714.3 thousand real estate transactions since the beginning of the year The number of real estate transactions topped 246.7 thousand transactions

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Ministry of Justice

Reading time: < 1 MinuteThe number of real estate transactions since the beginning of the current Hijri year, 1438 AH, has reached approximately 714,327. The First Notary Office in Riyadh accounted for 94,087 of these transactions, representing 51.301% of the total, followed by the First Notary Office in Jeddah, which accounted for 89,193 transactions, representing 48.71% of the total. Ranking of regions by transactions: The Riyadh region recorded 188,039 transactions. The Makkah Region recorded 150,090 transactions. The region … Read more

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