Month: January 2018

SAGIA issues 7 licenses to local and foreign companies with a total funding of SAR 47 million

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Reading time: < 1 MinuteLast week, the General Investment Authority granted seven licenses to a number of local and foreign companies to begin investing in the Kingdom, with total funding exceeding 47 million Saudi riyals. For his part, Ibrahim Saleh Al-Suwail, Deputy Governor for Investor Services and Consulting, explained that the licenses granted last week covered the industrial and commercial sectors, with five licenses for the service sector and two of them … Read more

Hala Support Services Company Continues to Grow and Opens Its Warehouse in Jeddah Third Industrial City

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Reading time: < 1 MinuteHala Support Services announced the opening of its warehouse, which spans over 36,000 square meters and stands 15.5 meters tall, in Jeddah’s Third Industrial City. In this regard, the company’s CEO explained that the project was designed to contribute to Saudi Vision 2030 and establish the Kingdom as an Arab hub for support services, as the warehouse provides integrated solutions that meet the diverse needs of customers, and the project enables us to serve our customers in an optimal manner. Hala provides service solutions … Read more

The Travel and Tourism Investment Forum kicks off on April 1 with 250 public and private sector participants

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Reading time: < 1 MinuteWith the participation of 250 entities representing the public and private sectors, the Saudi Travel and Tourism Investment Forum will take place from April 1 to 4 at the Riyadh International Convention and Exhibition Center in the capital, Riyadh. More than 250 organizations representing the public and private sectors will participate in the forum, which offers an opportunity to access the Saudi market and connect with investors, operators of tourism facilities and services, and other entities… Read more

The “Jadwa Saudi REIT” fund concludes the subscription period for its units today, Tuesday, with an offering of 47.40 million units

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Ihsan Endowment Fund

Reading time: < 1 MinuteThe “Jadwa Saudi REIT” fund concludes today, Tuesday, January 23, 2018, the subscription period for its units, which began twenty days ago. The fund manager offered 47.40 million units to the public at a subscription price of 10 riyals per unit, with a minimum subscription amount of 500 riyals. The fund plans to distribute 90% of its returns four times a year … Read more

The Real Estate Contributions Committee Sells Land in Banban for a Total Value of More Than 220 Million Riyals

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Reading time: < 1 MinuteThe Real Estate Contributions Committee (“Tasfiya”) announced the completion of the sale of the Jawaher Binban land in Riyadh for a total value of more than 220 million riyals. The Jawahar Binban land parcels consist of five undeveloped commercial and residential plots outside the scope of “white land” fees and within the urban development zone, covering an area of 2.61 million square meters. The Real Estate Contributions Committee had previously announced the postponement of the auction due to the entry of one … Read more

Experts: 2018 is a year of real estate stability. The Ministry of Housing's products redraw the real estate price map and stabilize the market

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Real Estate Index - Real Estate Transactions

Reading time: 2 MinutesReal estate experts predicted that the Ministry of Housing’s 2017 and 2018 initiatives—comprising 580,000 housing units and financing packages—would help reset real estate prices and stabilize the sector by providing affordable options for beneficiaries andhelped lower prices and restore the balance between supply and demand in the market. Some analysts went on to predict that real estate prices would continue to decline this year following … Read more

In cooperation with the Ministry of Housing “Retal launches 768 residential units in Nisaj Town”

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Reading time: < 1 Minute With a total capacity of 768 residential units, Retal Urban Development Company, in collaboration with the Ministry of Housing, today launched the reservation phase for the “Nasaj Town,” which aligns with the Kingdom’s Vision 2030 to strengthen the partnership between the public and private sectors. The “Nasaj Town” project is located on the Riyadh Expressway in one of the most promising locations in the city of Dammam, poised to become the city’s modern and scenic center … Read more

Activating the mechanism of transferring mortgage financing to subsidized financing increases the rate of home ownership

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Residential products

Reading time: 2 MinutesTo streamline and expedite procedures, the Real Estate Development Fund announced the official launch of the ”Conversion of Existing Mortgage Financing to Subsidized Financing” service for those registered on the Fund’s lists and who have obtained ”unsubsidized“ mortgage financing ” from lenders participating in the subsidized financing program. To increase homeownership rates, the Fund’s General Supervisor, Khalid bin Muhammad Al-Amoudi, stated that this service … Read more

Dedicated bankruptcy chambers in commercial courts across the Kingdom

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Title Deed - Real Estate

Reading time: < 1 MinuteAn official decision has been issued designating the Supreme Judicial Council to establish divisions to hear cases “bankruptcy, the imposition of bankruptcy restrictions on debtors, and the lifting of such restrictions” in the commercial and appellate courts. Commercial cases and disputes arising from the application of the bankruptcy system will be heard by a commercial division in five appellate courts, located in: Riyadh, Makkah, Madinah, the Eastern Province, and Asir, in addition to a three-judge chamber at the Commercial Court, … Read more

Sources reveal the development of 3 million meters of white land in Riyadh

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Real Estate - White Land Fees

Reading time: < 1 MinuteMedia sources revealed that the White Land Fees Program has contributed to the development of approximately three million square meters in the city of Riyadh, while the Ministry of Housing announced that it is working to issue fees for the second year in Riyadh in 56 days, in the Eastern Province capital in 88 days, and in Jeddah in 106 days. The Ministry of Housing called on owners of undeveloped land … Read more

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