Month: March 2018

A Saudi-U.S. consortium plans to build 25,000 housing units in northern Riyadh

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Reading time: < 1 MinuteAt a total cost estimated at tens of billions of dollars, the General Investment Authority has awarded a license to a consortium of American and Saudi businesspeople to build a mixed-use real estate project covering an area of 9.75 million square meters in the capital, Riyadh. Government authorities are seeking to form partnerships with global investors to participate in their public-private partnership programs as part of the economic plan … Read more

Ministry of Housing Wins 200 Lawsuits Filed Against "White Fees"… and 573 Homeowners in Dammam Await Reimbursement

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Reading time: < 1 MinuteThe Ministry of Housing has won 200 lawsuits filed against the “white land” fee program by landowners who objected to the ministry’s procedures, Meanwhile, 573 landowners in Dammam are expected to pay fees for the 112.9 million square meters of undeveloped land they own, as they are required to develop it and have been given until the 20th of Sha’ban to do so. The ministry noted that … Read more

The Ministry of Housing is considering new financing policies to revitalize cities abandoned by Saudis

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Reading time: < 1 MinuteHousing Minister Majid Al-Hogail revealed that the ministry is currently working to study new financing policies for the coming phase aimed at revitalizing cities abandoned by Saudis, or through other financing policies to renovate homes there, noting that the off-plan sales rate stands at 3 % and that we are currently working to raise it to 50 %. He also indicated that the government may need to purchase land … Read more

Abdulaziz Al-Issa writes: Tabuk ... And the «NEOM» exam»

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333 Abdulaziz Alissa - Riyadh Chamber - E-commerce - Real Estate Market

Reading time: 2 MinutesWith rapid and confident strides, the Tabuk region is undergoing a steady transformation as it prepares to welcome the massive «Neom» city, thereby completing the Kingdom’s journey toward global prominence as the world’s largest project, for which the state has allocated more than $500 billion to ensure that the generations of Vision 2030 take the lead in harnessing post-digital technologies for the benefit of humanity and the human mind, as the project expands across three countries. According to the announcement … Read more

“Basma transforms its real estate services into an online portal to facilitate supply and demand

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Reading time: < 1 MinuteBasma Real Estate Management Company announced that it has transitioned all of its real estate services to advanced electronic services powered by artificial intelligence (AI) systems—a first of its kind in the real estate services sector in the Middle East. Khalid Shaker Al-Mubayd, General Manager and Executive Partner of Basma, confirmed this during a press conference held at the company’s headquarters in Riyadh on this occasion … Read more

Riyadh to Host Annual Transportation and Infrastructure Forum Next April

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Reading time: < 1 MinuteThe Saudi Council of Engineers is organizing the Fifth Annual Transportation and Infrastructure Forum on April 9–10, 2018, to showcase major railway infrastructure projects and investment opportunities in the Kingdom as well as in the Middle East. This event serves as a platform for international and regional leaders to meet and learn about current and future infrastructure contracts. The event focuses on the development of infrastructure… Read more

Travel and Tourism Forum kicks off in Riyadh on April 1

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Reading time: < 1 MinuteUnder the slogan “Tourism: A Meeting Point for Industries” His Royal Highness Prince Sultan bin Salman bin Abdulaziz, Chairman of the General Authority for Tourism and National Heritage, is sponsoring the 11th edition of the Travel and Tourism Investment Forum, which will take place from April 1–4 at the Riyadh International Convention and Exhibition Center. The forum’s sessions will feature the participation and attendance of a select group of tourism, investment, and business leaders from the Kingdom … Read more

Bank Albilad showcases its achievements and outlook for 2018 at the Ambassadors' Forum

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Reading time: < 1 MinuteAbdulaziz Al-Anizan, CEO of Al-Bilad Bank, reviewed the bank’s most notable achievements in 2017 and outlined its aspirations for the coming year, 2018, This took place during the annual forum for the bank’s ambassadors in Riyadh at the Crowne Plaza Hotel, attended by senior executives and regional and branch managers from Al-Bilad Bank across all regions of the Kingdom. The forum also featured interactive sessions and a raffle… Read more

“Completion Center completes multi-floor exception procedures for 10 residential projects. 11 applications are under consideration

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real estate - building permits - projects - residential real estate development - projects - schemes - residential projects

Reading time: < 1 MinuteMohammed bin Saud Al-Ghazwani, General Supervisor of the “Etam” Developer Services Center, explained that there are 11 requests for exemptions currently under review in Riyadh, Makkah, Jeddah, Jizan, Dammam, and Al-Qatif, with a total project area estimated at 3.5 million square meters and an expected number of residential units to be exempted exceeding 20,000, bringing the approximate total to 35,000 units … Read more

Abu Dhabi's real estate market added more than 6,000 residential units last year

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Reading time: < 1 MinuteAbu Dhabi’s real estate market added nearly 6,000 new residential units last year, accompanied by a gradual decline in rental rates due to increased supply, according to data from the emirate’s Statistics Center. The center noted that 3,575 residential buildings entered the leasing phase after being completed by construction companies, out of a total of 4,179 buildings completed last year, and these varied … Read more

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