Month: September 2017

In conjunction with Cityscape Dubai, “Aldar Properties” launches 2,255 residential units at the “Waters AG” residential project on Yas Island

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Reading time: < 1 MinuteWith a total value of 2.4 billion dirhams and comprising 2,255 residential units, Aldar Properties, a leader in real estate development, investment, and management in Abu Dhabi, launched yesterday the “Waters AG,” a residential project featuring waterfront views on Yas Island, with prices starting at 480,000 dirhams. The company clarified that the project will be open for sale to all nationalities. This move coincides with … Read more

The Real Estate Fund Confirms That Those With a Monthly Income of 14,000 Riyals Are Eligible for Fully Subsidized Financing   

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Real Estate Fund - Real Estate

Reading time: < 1 MinuteThe Real Estate Development Fund reiterated that those with a monthly income of 14,000 or less are eligible for 100% subsidized financing at a profit margin of 0%,  It clarified that the procedures must be carried out through the Subsidized Financing Beneficiaries Service Center and that applicants cannot approach lenders directly. The Fund stated that beneficiaries will receive financing of up to 500,000 riyals without … Read more

Real estate transactions fall 27% in 11 months Riyadh leads the residential sector Jeddah takes over “Commercial”  

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Riyadh city

Reading time: < 1 MinuteThe value of real estate transactions during the first 11 months of 1438 AH fell by 27 % to reach 195.1 billion riyals, compared to approximately 266.9 billion riyals recorded during the same period last year. Transactions in Dhu al-Qi’dah Totaled 21.4 Billion Riyals: Data released by the Ministry of Justice showed that the value of real estate transactions completed during the past month of Dhu al-Qi’dah amounted to … Read more

The “Mada” Network Warns Against Retail Outlets’ Misuse of Bank Card Data

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Reading time: < 1 MinuteThe Saudi Payments Network “Mada” has issued warnings not to allow merchants at retail locations to swipe your bank card through their payment terminal “under any circumstances.” In a warning posted via a tweet on its official Twitter account, the network stated: “Be wary of sellers swiping your card through their own point-of-sale terminal after payment has been completed, as this is not part of … Read more

Jadwa REIT Al Haramain distributes profits of 6.6 million riyals in 75 operating days

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Reading time: < 1 MinuteIn a short period of no more than 75 days, the profits of the Jadwa REIT Al-Haramain Fund from its operating activities amounted to approximately 6.6 million riyals, which will be distributed in cash to the fund’s unit holders for the period beginning on the fund’s operational start date, April 16, 2017, through June 30, 2017. The “Jadwa REIT Al-Haramain” fund revealed that the number of units eligible for the distribution is 66 million, while the share received by … Read more

Riyadh Chamber hosts annual businesswomen's gala on October 3

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Reading time: < 1 MinuteThe Riyadh Chamber of Commerce, represented by its Women’s Branch, will host the annual ceremony for businesswomen on Tuesday, October 3, 2017, at the Abdulmohsen Al-Suwailem Business Club at the Chamber’s headquarters on Al-Dhabab Street, The event will bring together a group of senior female officials from the government sector, as well as a number of female diplomats and the wives of heads of diplomatic missions accredited to the Kingdom. The annual gala for the capital’s businesswomen is considered an important event that attracts significant attention from the business community … Read more

Economic Cities Authority to start applying real estate tax in February

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Reading time: < 1 MinuteThe Economic Cities Authority announced that the implementation of fees for real estate services provided to developers, investors, owners, tenants, and beneficiaries within its cities will begin in February 2018, The list of services includes the registration of a real estate unit for a fee of 100 riyals per transaction, the registration of a deed of undertaking, and the registration of a sale at a rate of 1% of the value of the registered sales contract or the appraisal approved by the Real Estate Administration, whichever is higher. Also … Read more

The pioneer of philanthropy Sheikh Mohammed Al-Subaie - may God have mercy on him - worked as a bartender, builder, employee and banker before founding Bank Albilad

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Reading time: 4 MinutesAt the age of nearly 100, the renowned philanthropist and businessman Sheikh Muhammad Ibrahim Al-Subaie—may God have mercy on him—on Friday, August 18. He was considered one of the most prominent businessmen and founders of the nonprofit charitable sector in the Kingdom, and throughout his life, he set a wonderful example of selflessness, standing by those in need, and supporting charitable projects and Quranic schools… Read more

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