Month: November 2017

Jeddah: Prices of apartments and villas have fallen... with 812,000 housing units on the real estate market

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Jeddah Real Estate - Real Estate Index

Reading time: 2 MinutesWhile prices for apartments and villas have declined, the value of sales has risen significantly in recent times, as a specialized real estate report showed, showed that sales prices for apartments and villas in Jeddah fell by 10% and 0.5%, respectively, in the third quarter of this year, compared to the same period last year. Rents for villas and apartments declined, and a special report on … Read more

Ministry of Justice provides Housing with data and statistics on 64,620 lands that have been categorized as “white”

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White Land Fees Program

Reading time: < 1 Minute  The Ministry of Justice transferred approximately 64,620 plots of land classified as “white” to the Ministry of Housing, along with data and specifications for those plots. The Ministry of Justice had previously signed a memorandum of understanding with the Ministry of Housing; to establish operational mechanisms aimed at expediting the processing of deeds and the sorting of housing units and planned plots through the Developers Services Center at the Ministry of Housing and its branches. The agreement emphasized the importance of coordination between … Read more

Over the past year, the number of private and closed companies rose to 4,545, with a total capital exceeding 23 billion riyals.

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Reading time: 2 MinutesThe Ministry of Commerce and Investment reported steady increases in the number and capital of privately held companies, with 4,545 companies of various types registered during the year 1438 AH, representing a 9% growth rate in the number of companies compared to the year 1437 AH. The Ministry’s statistics showed that the total capital of companies established and those converted to closed joint-stock companies in 1438 AH amounted to more than … Read more

Saudi banks are launching their ninth awareness campaign under the slogan “It’s Not on Us” to curb banking fraud

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Reading time: < 1 MinuteSaudi banks, represented by the Banking Media and Awareness Committee, are organizing their ninth awareness campaign under the slogan “It’s Not on Us” to raise public awareness among members of society—and bank customers in particular—about the risks of financial and banking fraud. During a press conference held in Riyadh, the committee explained that financial fraud worldwide continues to rise and has become a burden that costs the global economy even more … Read more

Al Rajhi Bank denies reports that the Public Investment Fund purchased 25% of the shareholders' shares

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Reading time: < 1 Minute  Al-Rajhi Bank denied the accuracy of rumors circulating about the Public Investment Fund purchasing a 25% stake in the bank, and stated that there is no truth to rumors regarding the convening of an extraordinary general meeting to change the bank’s name, emphasizing that any significant changes in ownership are announced on the Tadawul website in accordance with regulations and to ensure transparency. The bank said in a statement on … Read more

It’s Time to Invest in Turkey… With 500 Foreign Investors in Attendance, the Amlak Real Estate Exhibition in Turkey Showcases Real Estate Projects and Financing Opportunities

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Reading time: < 1 MinuteUnder the slogan “It’s Time to Invest in Turkey” With nearly 500 foreign investors in attendance, the 2017 Emlak Real Estate Exhibition in Turkey continues its activities with its fifth edition, currently taking place at the CNR EXPO Exhibition Center in the Yeşilköy district of Istanbul.  The international exhibition showcases real estate investment projects and financing. “CNR EMLAK” The exhibition, which runs until … Read more

Saudi-Turkish Business and Investment Forum explores opportunities through strategic partnerships and capital attraction

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Reading time: < 1 Minute  The Saudi-Turkish Business and Investment Forum, which aims to strengthen trade and economic cooperation between the two countries, was held yesterday in Istanbul, Turkey, in the presence of His Excellency Dr. Majid bin Abdullah Al-Qasabi, Minister of Commerce and Investment; His Excellency Nihat Zeybekci, Turkish Minister of Economy; as well as a number of Saudi and Turkish business leaders. In his speech during the forum, Dr. Al-Qasabi emphasized the depth of the relations … Read more

Public Investment Fund acquires King Abdullah Financial Center in a deal worth SAR 30 billion

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Reading time: 2 Minutes  Media sources have revealed that the Public Investment Fund has decided to acquire ownership of the Riyadh Financial Center, which is estimated to cost 37.5 billion riyals ($10 billion), However, no details of the deal have been announced, especially since reports have circulated that its value may exceed 30 billion riyals. According to the U.S. news network “Bloomberg,” the Public Investment Fund controls … Read more

Following the leasing of all units in Phase 3, “Dour Al-Dhiyafa” announces the completion of leasing for Phase 4 of the “Daraq” project

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Reading time: 2 Minutes“Dour Hospitality” announced that all units in Phase 3 of the “Daraq” residential project, located in the Al-Safarat neighborhood of Riyadh, which are designed for elite businesspeople, diplomats, and senior executives seeking a modern lifestyle for themselves and their families in a vibrant and strategic location that offers all the amenities of luxury, privacy, and security.In this context, Mr. Sultan Al-Otaibi, Vice President of Assets … Read more

Ministry of Housing completes arrangements to market 22,000 housing units across the Kingdom in November and December

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Mortgage - Real Estate Finance

Reading time: < 1 MinuteThe Ministry of Housing confirmed that it has finalized arrangements to market 22,000 housing units in eight regions across the Kingdom in the coming days, Engineer Saif Al-Suwailem, the Ministry of Housing’s official spokesperson, explained that in early December, the Ministry will begin marketing more than 10,000 housing units as part of completed projects and off-plan projects in partnership with real estate developers. The ministry’s official spokesperson explained that … Read more

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