Month: March 2018

During the March batch. Ministry of Housing signs 9 agreements with real estate developers to implement new housing projects

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Reading time: < 1 MinuteThe Ministry of Housing signed nine new agreements with nine real estate developers to carry out housing projects in a number of regions across the Kingdom, on the sidelines of the announcement of the third phase of the “Iskani” program. In this context, Saif Al-Suwailem, the official spokesperson for the Ministry of Housing, explained that the terms of the agreements include the construction of various residential units, villas, apartments, and townhouses, which cater to the diverse needs and preferences of different segments of society. It was … Read more

Swicorp Wabel REIT launches its units on Tadawul today, targeting SAR 354 million

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Trading-min

Reading time: 2 Minutes“Sweicorp” is offering units of the “Sweicorp Wabel REIT” fund in a public offering on the Saudi market starting today, Monday, March 19, 2018, for a period of 15 business days ending on April 8, 2018. The fund aims to distribute a net return to investors of 7.7% in 2018, 8.14% in 2019 and 8.30% in 2020, bringing the average … Read more

The Real Estate Fund Launches a Self-Build Program... and Revises the Support Contract by Converting It into a “Tripartite Contract”

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Reading time: < 1 MinuteKhalid bin Mohammed Al-Amoudi, General Supervisor of the Real Estate Development Fund, announced the launch of the Self-Build Program in response to requests from beneficiaries as part of efforts to diversify financing options. Al-Amoudi added during a press conference held by the Ministry of Housing that this product will be launched through a group of lenders from the banking sector. He explained that, as part of efforts to strengthen the relationship with beneficiaries … Read more

Auctions to liquidate the assets of Ma'an Al-Sanea and Saad Trading and Contracting Company will begin this afternoon in Al-Sharqia

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Reading time: 2 MinutesToday, the first Sunday of Rajab 1439 AH, corresponding to March 18, 2018 AD, marks the start of the first auction of the assets of businessman Ma'an Al-Sanea and Saad Trading, Contracting, and Financial Services Company. The first auction, which will last five days and take place at the Saad Industrial Center in the Eastern Province, is dedicated to the sale of vehicles and equipment, including more than 900 trucks … Read more

No need to review or visit. Riyadh Chamber invites its subscribers to activate electronic accounts through the “My Business” portal”

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Riyadh Chamber

Reading time: < 1 MinuteThe Riyadh Chamber of Commerce has called on its members to activate their businesses« online accounts through the »Amali” portal—without needing to visit the Chamber in person—to complete the activation process, which allows them to conduct their business transactions electronically, including the document certification service. Ahmed Al-Suwailem, Secretary General of the Riyadh Chamber of Commerce, explained that this measure comes after the Chamber completed the electronic activation service through an agreement signed with … Read more

The deadline expired yesterday... The Ministry of Housing calls on landowners subject to "white fees" in Riyadh to pay their bills

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Housing units

Reading time: < 1 MinuteThe deadline for paying “white land” fees in the city of Riyadh expired yesterday, Saturday, and the program called on all landowners who met the criteria for the fee to promptly pay the amounts owed. The vacant land fee system applies within the urban areas of Riyadh, Jeddah, Dammam, and Makkah, The deadline for Jeddah Province also expires on the 8th … Read more

Computational computing technologies promote sustainable excellence and help accelerate cost-effective project delivery

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Reading time: 4 Minutes  Executives and business leaders in Saudi Arabia overwhelmingly affirmed the positive and transformative impact of cloud computing technologies on various business environments, according to a recent study published not long ago. The study’s findings serve as the latest barometer of current regional trends in cloud computing, drawing on the opinions of 250 senior executives and business owners from the Arab Gulf states, … Read more

Ministry of Housing allocates 21.73 thousand housing units during the third installment of the 2018 Sakany2 program

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Reading time: < 1 MinuteDuring the third phase of the housing program, which took place in March 2018, the Ministry of Housing allocated approximately 21,730 housing units. The ministry said during a press conference on Thursday that the third phase includes 8,080 housing units that are either ready or under construction, in addition to 5,350 plots of land provided free of charge. The Ministry of Housing added that the batch includes 8,300 mortgage loans in partnership with the Fund… Read more

The National Bank injects 20 billion riyals into the real estate finance portfolio. 28 families benefit from its services

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Reading time: < 1 MinuteMr. Mansour Al-Mayman, Chairman of the Board of Directors of Al-Ahli Bank, revealed that more than 28,000 families across various regions of the Kingdom have benefited from residential mortgage financing, with the total mortgage portfolio estimated at 20 billion riyals. Al-Mayman explained that this comes amid continued economic growth and the ongoing implementation of development plans in the Kingdom, supported by the prudent policies of the government of the Custodian of the Two Holy Mosques. … Read more

Housing Minister Confirms 981,000-Unit Year-Over-Year Growth in the Housing Market in January 2018

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Reading time: 2 MinutesHousing Minister Majid Al-Hogail confirmed the ministry’s policy of guaranteeing a down payment of 5 % or offering affordable mortgages to those who lack the financial means,” Al-Hogail noted that the ministry, in cooperation with the Refinancing Company (SARK), is working to invest in sukuk to grow and develop real estate financing. He added that the Kingdom’s loan default rate is the lowest in the world, though he expects it to rise due to the targeting of … Read more

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