Month: October 2017

Prince Mohammed bin Salman confirms listing of NEOM and Aramco as part of diversifying the economy

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NEOM Project - Factory

Reading time: < 1 MinuteHis Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister, and Chairman of the Board of Directors of the Public Investment Fund, confirmed the listing of the megacity “Neom” on the financial markets, alongside Saudi Aramco, as part of the Kingdom’s efforts to diversify its economy and reduce its dependence on oil. His Royal Highness the Crown Prince explained that “Neom” is valued at $500 billion and is located … Read more

With 375 suites and 90 residential units… “Four Seasons” partners with “Jabal Omar Development” to open its first hotel in Mecca

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Reading time: 2 MinutesWith a capacity of 375 rooms and suites, and 90 private residential units, Four Seasons Hotels and Resorts has announced the opening of its second hotel in the Kingdom in collaboration with Jabal Omar Development Company, which will be built as part of the Jabal Omar integrated real estate project. The project boasts a unique location adjacent to the Holy Mosque in Mecca, offering easy access to the holy sites and majestic views of … Read more

General Authority for Statistics: The General Real Estate Price Index for the third quarter of 2017 declined by 6.3%

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Reading time: < 1 MinuteThe overall real estate price index for the third quarter of 2017 declined by 6.3% compared to the same quarter of 2016, The General Authority for Statistics attributed this decline to a decrease in the real estate price index for the commercial sector by 8.9%, and by 5.4% for the residential sector, and by approximately 0.8% for the agricultural sector. The General Authority for Statistics had designated 2014 as the base year (100 points) for calculating the index … Read more

Riyadh Is the Most Active City... Total Value of Real Estate Transactions in the Month of Muharram Reached 14.8 Billion Riyals... With 89 % of That Amount Attributable to Land Plots

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Residential Land - Riyadh Future Projects - Real Estate

Reading time: < 1 MinuteThe value of real estate transactions completed during the month of Muharram fell by 29% compared to the same period last year, reaching 14.8 billion riyals, Meanwhile, the value of real estate transactions recorded a 27% decline during the year 1438 AH, amounting to 75.4 billion riyals, compared to the year 1437 AH, continuing its decline for the third consecutive year. Real estate transactions are distributed among … Read more

From Inside the Saudi Construction Expo... Experts: 2018 Will Be an Exceptional Year for the Construction Sector... and Government Projects Are Bolstering the Sector's Strength

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Reading time: 2 MinutesA large number of exhibitors at the Saudi Construction Expo, currently being held at the Riyadh Exhibition and Convention Center, expressed their satisfaction with the high turnout for the products offered by the participating exhibitors. Participants in a tour organized by Amlak Real Estate Newspaper confirmed that the exhibition has achieved its intended goals thanks to its excellent coordination and organization, attracting more than 500 local and international brands. The speakers expressed their optimism regarding the boom … Read more

The Public Investment Fund (PIF) launches 30 initiatives that reflect its 2018-2020 programs based on four main objectives

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Reading time: 2 MinutesWith 30 initiatives, the Public Investment Fund has launched its programs for the next three years. Details of each initiative are provided in the Public Investment Fund Program Document, which aims to increase the value of the fund’s assets to 1.5 trillion riyals ($400 billion) by 2020, and generate 20,000 direct local jobs—more than half of which will require high-level skills—and 256,000 jobs … Read more

During the Future Investment Initiative A $40 billion Saudi-U.S. fund for health and education The Future of the Knowledge Economy

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Investment

Reading time: 3 MinutesDuring the Future Investment Initiative, the Public Investment Fund announced its $20 billion contribution to a $40 billion fund established in partnership with the U.S. private equity firm Blackstone, Al-Rumayyan said during the first session of the initiative, which kicked off in Riyadh yesterday, that the fund will invest in the traditional economy, including sectors such as healthcare and education, and he also touched on … Read more

Cabinet welcomes NEOM as a new future destination for human civilization and smart investment

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Business activities

Reading time: < 1 Minute  At its meeting held yesterday and chaired by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz —may God protect him—welcomed the «NEOM» project, the destination of the future, launched by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister, and Chairman of the Board of Directors of the Public Investment Fund. The «NEOM» region will focus on nine sectors … Read more

Prince Mohammed bin Salman Launches “Neom Project,” Costing Over $500 Billion, to Create the Region of the Future

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NEOM Project - Factory

Reading time: 3 MinutesPrince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Deputy Prime Minister, and Chairman of the Board of Directors of the Public Investment Fund, announced today the launch of “Neom Project,” which is part of the ambitious plans and aspirations of Vision 2030 to transform the Kingdom into a leading global model in various aspects of life by focusing on attracting value chains in industry and technology within the project, … Read more

Special Report by “Amlak”: Saudis Invest More Than 78.6 Billion Dirhams in the UAE Real Estate Market

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Reading time: 2 MinutesSaudi investors have confirmed that the United Arab Emirates is their preferred and safest investment destination, due to the high level of confidence businesspeople have in the UAE market, with the total value of purchase transactions concluded by Saudi investors over the past 16 years exceeding 78.6 billion dirhams in the real estate market across the UAE, including 58.6 billion dirhams in Dubai’s markets, … Read more

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