Month: April 2018

Reading time: 2 MinutesThe “Subsidized Loan” recently approved by the Real Estate Development Fund targets about 430,000 eligible Saudi families on waiting lists, as the “Subsidized Loan” contributes to increasing the number of beneficiaries of the Fund's support, which is an influential step for the issue of home ownership for citizens, as it will support banks and financing companies and enable them to increase the segment of their customers and beneficiaries of their services. The subsidized loan mechanism remains ... Read more

Reading time: < 1 MinuteThe Minister of Housing, Mr. Majid Al-Hogail, confirmed that the privatization program contributes to regulating and facilitating a balanced and sustainable housing environment that enables demand and supports supply through the participation of the private sector. The Council of Economic and Development Affairs, chaired by Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Chairman of the Council, approved the implementation plan of the privatization program. Read more

Reading time: < 1 MinuteIn order to accelerate the work of real estate developers, the Wafi Committee recently issued 8 off-plan sales licenses and 12 marketing licenses for projects inside and outside the Kingdom, in addition to renewing 5 other marketing licenses and qualifying 12 real estate developers to work on off-plan sales projects “under construction”. The committee agreed to grant 7 projects in Riyadh, Taif, Khamis Mushait, ... Read more

Reading time: < 1 MinuteUnder the patronage of His Royal Highness Prince Faisal bin Bandar bin Abdulaziz, Emir of Riyadh, SABIC recently inaugurated its residential complex “Al Wasil Hills” in the presence of a number of Their Highnesses, senior officials from the public and private sectors, and the company's executive leadership. With the completion of the final phase of the project, more than 1,200 residential units will have been built, after the company ... Read more