Month: October 2017

The Governor of the Riyadh Region Opens the Saudi Construction Expo 2017... with 500 Companies Showcasing the Industry's Latest Technologies

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Reading time: < 1 Minute  With the participation of 500 exhibiting companies from 30 countries around the world, Riyadh Region Governor Ibrahim Al-Sultan officially opened the Saudi Construction Exhibition 2017 yesterday evening. The event will run for four days at the Riyadh International Convention and Exhibition Center. The exhibition is being held concurrently with the “Saudi Stone Technology Exhibition” and the ”Saudi Exhibition for Heavy Equipment, Machinery, and Construction Vehicles,” organized by the Exhibition Company … Read more

Real estate expert: The new government finance company boosts confidence in the real estate market and refutes claims and predictions of its collapse

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Residential Land - Riyadh Future Projects - Real Estate

Reading time: < 1 Minute  The real estate sector welcomed the Public Investment Fund’s decision to establish a refinancing company with a capital of 75 billion riyals, aimed at boosting the sector’s performance and increasing investment opportunities by providing the necessary liquidity. and forecasts suggest that the capital could grow to 170 billion riyals. At the same time, experts and specialists have refuted rumors circulating about an expected market collapse… Read more

. Prince Mohammed bin Salman opens the Future Investment Initiative today, and 2,500 local and international figures lead the initiative

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Reading time: 2 Minutes  With the participation of 2,500 leading figures and influencers from 60 countries, Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister, Chairman of the Council of Economic and Development Affairs, and Chairman of the Public Investment Fund, will today launch the «Future Investment Initiative,» an initiative hosted by the Public Investment Fund in Riyadh. Under the patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdul… Read more

13.5 billion in subscriptions. Makkah Real Estate Development Fund completes the offering and coverage of its units

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Reading time: < 1 MinuteAl-Inmaa Investment Company has successfully completed the offering and subscription of units in the Al-Inmaa Makkah Real Estate Fund, a closed-end income-generating real estate investment fund compliant with Sharia principles and regulations, with total subscriptions exceeding 13.5 billion riyals. The offered units will be allocated to investors (whether individuals or institutions) in accordance with the fund’s terms and conditions on a pro-rata basis to each subscriber relative to the value of their subscription, following the distribution of … Read more

The Ministry of Municipal and Rural Affairs Denies Imposing Fees on Public Utilities... and the “Municipal Real Estate” Regulations Improve Their Efficiency

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Reading time: < 1 Minute  The Ministry of Municipal and Rural Affairs has confirmed that it will not impose fees on public utilities, based on the amendments to the regulations governing the disposal of municipal real estate. The ministry’s official spokesperson, Hamad Al-Omar, denied the accuracy of reports circulating on social media regarding the imposition of fees on public utilities, explaining that the amendments to the regulations governing the disposal of municipal real estate included provisions to facilitate the transfer of … Read more

The Ministry of Housing Launches 9 Off-Plan Projects and 25,000 Housing Units in the Makkah Region

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Real Estate Marketing - Real Estate Marketing - Real Estate Projects

Reading time: < 1 MinuteThe Ministry of Housing announced the launch of 11 projects, including 9 off-plan projects, as part of a housing program in several governorates of the Makkah region, It will also launch five projects with a total of approximately 25,000 housing units, including apartments, townhouses, and villas, in addition to two prefabricated housing projects in Al-Qunfudhah and Al-Khurma. In the coming period, there will be … Read more

Riyad Bank: Deferral of the first loan payment for six months for employees in the public and private sectors

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Riyad Bank - Off-plan Selling - Real Estate Finance

Reading time: < 1 MinuteRiyad Bank has launched a package of exclusive benefits for personal finance customers as part of its recently introduced four-pronged financing offer, which includes mortgage financing, car leasing, and credit cards, as part of its efforts to meet customer needs through innovative financing solutions. Riyad Al-Zahrani, Executive Vice President of Retail Banking, explained that the new benefits include, for the first time, deferring the first installment payment for a period of … Read more

In just one month… “Abdulrahman Al-Rashed” announces that all residential units in the “North Riyadh Housing” project have been fully booked”

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Reading time: 2 MinutesAbdulrahman Al-Rashed & Sons Company announced that reservations for the residential units allocated to the North Riyadh Housing Project have been fully booked, reflecting the tremendous success achieved by the Ministry of Housing’s partnership program with private-sector real estate developers. Meanwhile, the company’s CEO, Sulaiman Al-Rashed, confirmed that the 577 residential units for the project being developed by the company have been fully reserved under the housing program… Read more

The Riyadh Municipality is suspending the issuance of business licenses to shops, restaurants, and hotels that fail to provide parking spaces

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Reading time: < 1 MinuteThe Riyadh Municipality has decided not to issue business licenses to commercial establishments engaged in the following activities (restaurants, furnished apartments, hotels, banks, wedding halls – medical centers and clinics – sports centers – kitchens and mandy shops – schools – recreational centers – and coffee shops) and all activities not mentioned above, unless they commit to providing parking spaces… Read more

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