Month: December 2017

100 days away from implementation Saudi Building Code discusses implementation mechanisms and linking it to licenses to increase urban quality

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Reading time: 2 MinutesThe Ministry of Municipal and Rural Affairs confirmed that it attaches the utmost importance to the Saudi Building Code, based on its responsibility in controlling urban development and the role it plays to create a distinctive urban and developmental environment, pointing out the importance of the introductory workshop as it is held before the mandatory application of the code scheduled for 23/7/1439 AH, praising the constructive cooperation by the secretariats and directing their employees to attend and participate ... Read more

“Dubai's Best Blogger 2018” award dominates Dhiyafa International Festival kicking off on January 11

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Reading time: 2 MinutesFor the second consecutive year, Atlantis The Palm Resort in Dubai will host the Dhiyafa International Festivals, which will kick off on Thursday, January 11, 2018, and the festival revealed the launch of the “Best Blogger in Dubai 2018” award, which will be held within the activities of the second edition of the festival, in the presence of a number of celebrities, prominent personalities and invitees from the UAE and the Arab world, in addition to a group of ... Read more

Real Estate Development Fund begins offering 100% subsidized financing program for 2470 beneficiaries

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Real Estate Fund - Real Estate

Reading time: < 1 MinuteThe General Supervisor of the Real Estate Development Fund (REDF), Khalid bin Mohammed Al-Amoudi, confirmed the immediate commencement of the 100% subsidized financing program for “committee beneficiaries”, whose loan applications have been approved by the Studies Committee and number 2470 beneficiaries, in implementation of the vision of the Real Estate Development Fund, as the interest of the citizen is the first and main pillar since its inception. The “Committee Beneficiaries” segment includes a number of ... Read more

122 plots of land. Jeddah's Al Saeed Auction concludes its sales with 40 million riyals

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Al Saeed Jeddah 22 Auction - Auctions

Reading time: < 1 MinuteThe sales of the public auction of Al-Saeed scheme in Jeddah reached 40 million riyals, as 122 pieces were sold in the auction organized by the provincial municipality over two days, and the total area is more than four million square meters, and the municipality limited each citizen to buy only one piece of land so that the largest number of citizens have the opportunity to register in the auction, and the undersecretary of ... Read more

Ministry of Commerce 1.2 commercial registry 23 billion capital of closed companies. Initiatives and Business Improvement Centers

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Reading time: 2 MinutesWithin three years of King Salman bin Abdulaziz's accession to the throne, the Kingdom's trade and investment system has witnessed great leaps, through the amendment and enactment of laws and regulations that are in line with the government's direction in creating an attractive investment environment, which reflects positively on the local economy and contributes to pumping various investments and providing many job opportunities. The Ministry of ... Read more

Al Rajhi REIT launched on January 1, 2018 with a capital of SAR 1621.9 million

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Reading time: < 1 MinuteAl Rajhi Financial Investment Company plans to invest 1621.9 million riyals, where the fund manager intends to offer 42.67 million units at a subscription price of ten riyals per unit, starting from January 1, 2018, and the offering will continue until the 14th of the same month. Al Rajhi Financial said that the offering will be available for investors to start submitting subscription requests during the ... Read more

SABB Bank launches an innovative e-service for choosing and recognizing competitive real estate benefits

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Online Data Update - SAP - Online Data Update - Global Trade

Reading time: < 1 MinuteSaudi British Bank (SABB) has launched an innovative new service to help customers in the process of choosing the right property, in addition to knowing the approximate amount of the mortgage due to the customer by using the mortgage calculator. SABB is the first bank to offer this service in the Kingdom. SABB has entered into a joint agreement with Aqar, one of the ... Read more

Bahrain's Ministry of Housing launches “Mazaya” program to finance and build housing units and completes 2,500 dwellings

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Reading time: < 1 Minute Bahrain's Minister of Housing Bassem bin Yaqoub Al Hamar emphasized the importance of the cooperation document that Bahrain, represented by the Ministry of Housing, recently concluded with the United Nations Development Office (UNDP), which aims to develop housing policies in the Kingdom of Bahrain through the preparation of studies that assess the current status of the social housing file in the Kingdom, and ways to develop housing policies to ensure the sustainability of the housing file ... Read more

Housing subsidy beneficiaries complete booking 50% housing units offered at the “Housing” exhibition in Jeddah

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Reading time: < 1 Minute The Ministry of Housing has revealed that more than 50% residential units have been booked at the “Tahlia Gate” exhibition in Jeddah, where the ministry announced that housing subsidy beneficiaries were able to complete the booking of 1,000 residential units within two weeks of opening the exhibition. The units are located at the intersection of Haramain Road and Prince Mohammed bin Abdulaziz Road, and will be delivered within a period not exceeding ... Read more

Only 150 organizations are registered with the Saudi Contractors Authority. Lack of financial resources delays initiatives and deliverables

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Saudi Contractors Authority

Reading time: < 1 MinuteOsama Al-Afaleq, Chairman of the Board of Directors of the Saudi Contractors Authority, revealed that a number of the Authority's initiatives have been delayed due to its limited resources, which depend on funding and sponsorship, which are very limited, and Al-Afaleq emphasized that the Authority suffers from a shortage of revenues, which caused a delay in the listed works that the Authority intends to accomplish this year according to the announced strategy. Al-Afaleq explained that the number of organizations ... Read more

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