Month: March 2018

Launches the day after Wednesday. Wafex invites interested parties to register their data online

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Reading time: < 1 MinuteThe “Wafix” off-plan sales and leasing program has invited real estate sector stakeholders to attend the events of the first forum and exhibition for off-plan projects (projects under construction) “Wafix” to register via the forum’s website. The exhibition will take place from March 28–31, under the patronage of His Excellency the Minister of Housing, Mr. Majid bin Abdullah Al-Hogail. A number of companies are participating in the exhibition… Read more

Agreement with a Chinese Company to Carry Out the King Khalid Road Bridge Project in Ahad Governorate

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Reading time: < 1 MinuteThe Minister of Municipal and Rural Affairs, Eng. Abdul Latif bin Abdul Malik Al Sheikh, signed a contract for the King Khalid Road Bridge project at the Suwam al-Ghalal intersection in the Municipality of Ahad Rafidah, valued at 93,965,961 riyals, with a Chinese company for a duration of 720 days. The Mayor of Ahad Rafidah Province, Muhammad Salim Al-Wadai, expressed his gratitude to the Custodian of the Two Holy Mosques and his trusted Crown Prince for their support … Read more

Emaar Properties launches Collective at Dubai Hills Estate“

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Reading time: < 1 MinuteEmaar Properties plans to launch the “Collective” buildings as part of the “Dubai Hills Estate” project, which the company began developing in partnership with Meraas Holding. Sources indicated that the “Collective” buildings are located near the ”Park Ridge” complex, which the company sold earlier last year. The “Dubai Hills Estate” project spans 11 million square feet and includes … Read more

Determining the value of subsidized financing for beneficiaries is the responsibility of the Real Estate Fund, not the banks

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Reading time: < 1 MinuteTalaat Hafez, Secretary-General of the Media and Banking Awareness Committee and spokesperson for Saudi banks, confirmed that the Real Estate Fund determines the amount of subsidized financing for beneficiaries and whether they are eligible for the full amount of 500,000 riyals or a lower amount, noting that the banks have no involvement in this matter. Hafez explained that the process is based on specific criteria determined by the Fund … Read more

Al-Ahsa Municipality Disburses Compensation for 525 Properties Totaling 487 Million Riyals

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Reading time: < 1 MinuteThe Al-Ahsa Municipality announced the disbursement of compensation payments for property expropriations to make way for major roads and streets within Al-Ahsa and its outskirts. A total of 525 properties were expropriated, with a total value of 486,711,480 riyals. In this regard, Al-Ahsa Mayor Engineer Adel bin Muhammad Al-Melhem confirmed that the municipality is in the process of taking possession of the expropriated properties to complete the removal and demolition of properties located on King’s Road … Read more

 Khamis Mushait's early preparations for summer 2018   

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Reading time: < 1 MinuteThe Khamis Mushait Governorate, represented by the Governorate’s Tourism Development Committee, has begun its preparations for “Summer in Khamis Mushait 2018,” kicking off with three events this month. The first of these is a brand-new event (Let’s Play), supported by the Entertainment Authority, sponsored by the Tourism Development Committee of Khamis Mushait Province, and organized by Oasis Events for Exhibitions and Conferences. The event will be held at the Prince Sultan Cultural Center in Khamis Mushait for a duration of … Read more

A contemporary vision on the future of real estate investment according to the National Transformation Program and the Kingdom's Vision 2030

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Reading time: 4 MinutesPrepared by / Turki bin Saad Al-Bawardi When the Council of Economic and Development Affairs designated 2030 as the year to complete the renaissance of the Kingdom of Saudi Arabia and set it on the path to becoming an industrial and technological nation—based on the goals of Vision 2030, which are grounded in the National Transformation Program—it thereby sent a clear message to the private sector to immediately begin restructuring the sector to align with the goals of Vision … Read more

Prince Mohammed bin Salman described NEOM as a place of dreamers, moving the world to a new reality. and changing the Kingdom's landscape to lead the world

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Reading time: 3 MinutesTabuk – Muhammad Al-Saad His Royal Highness Crown Prince Muhammad bin Salman affirmed that the Kingdom possesses tremendous economic opportunities and that its locations near the Red Sea enhance its investment potential, which has reached $500 billion in the «NEOM» project, noting the significant opportunities the Kingdom is seeking to realize and capitalize on; His Royal Highness also noted that the «Neom» project … Read more

Dr.. Dr. Hossam Youssef writes: Scorpions of time

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Management - Intelligence - Management Science - Real Estate

Reading time: 2 MinutesI’ve thought a lot about the daily events and occurrences that pass us by—where do they go once they’ve happened, and what is this vast repository where they’re archived, to be retrieved when needed? For every single day—indeed, every hour, or to be precise, every second—hundreds of events and situations occur that pass without return, but where they go, I do not know… And I wondered… Read more

Daraya REIT begins listing its units on Monday

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Reading time: < 1 MinuteOn Monday, March 26, 2018, the Daraya REIT will begin listing and trading its units under the ticker symbol 4339 within the real estate investment trust (REIT) sector, with a daily price fluctuation limit of 10%. In the same vein, the Saudi Stock Exchange (Tadawul) announced in a statement that, in accordance with the regulations governing real estate investment trusts issued by the Capital Market Authority on Sunday, October 30… Read more

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