Month: May 2018

The Off-Plan Sales and Leasing Committee Grants Licenses to the ”Jabal Omar Al-Anwan,“ ”Louloua Al-Diyar,“ and ”Jawhara Al-Yasmin” Projects”

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Wafi-sale-on-plan

Reading time: < 1 MinuteThe Off-Plan Sales and Leasing Committee at the Ministry of Housing has issued renewal, sales, and marketing licenses to a number of real estate development companies. It granted Jabal Omar a license to market its project “Jabal Omar Al-Anwan,” comprising 741 hotel units adjacent to the Grand Mosque in Mecca. The licenses also included off-plan sales authorization for Al-Diyar Al-Arabiya Real Estate Development Company to construct 1,182 residential units of the … type. Read more

11.63 billion riyals worth of real estate transactions during the month of Shaaban

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Rental Properties - Real Estate - Real Estate - Real Estate Funds - Rental - Licensing -... Real Estate Deals - Real Estate Exchange

Reading time: < 1 MinuteThe value of real estate transactions completed during the month of Sha'ban 1439 AH reached 11.63 billion riyals, a decrease of 39 % compared to the same period last year. According to data released by the Ministry of Justice, last month’s transactions recorded a slight increase of approximately 1 % over the previous month, when the total for the month of Rajab stood at 11.56 billion riyals. The value of transactions … Read more

Riyadh Chamber plans to qualify 1000 trainees in digital marketing in Shawwal

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Riyadh Chamber

Reading time: < 1 MinuteThe Riyadh Chamber, represented by its Human Resources and Labor Market Committee, plans to train and qualify 1,000 trainees in digital marketing—including job seekers and employees at small and medium-sized enterprises of both genders—through a free training program to be launched next Shawwal,  as part of its initiative aimed at developing specialized job skills for job seekers to meet the emerging needs of the private sector. The Vice Chairman explained… Read more

Mawtin Real Estate Selects New Board of Directors and Recommends a Cash Dividend of 55 Million Riyals

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Reading time: < 1 MinuteThe General Assembly of Mawtan Real Estate Company approved the Board of Directors’ recommendation to distribute cash dividends totaling 55 million riyals, representing 5% of the capital, The meeting also approved the Board’s report on the company’s activities during the past period, which resulted in net profits of 15.5 million riyals, as well as the financial statements … Read more

The Off-Plan Sales and Leasing Committee Issues a Marketing License for Dar Al-Arkan’s ”Shams Al-Riyadh” Project”

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Reading time: < 1 MinuteThe Off-Plan Sales and Leasing Committee at the Ministry of Housing has issued a license to “Dar Al-Arkan” to sell off-plan real estate units for its “Shams Al-Riyadh” project, located north of Riyadh. The Shams Al-Riyadh project is divided into five phases. The first phase involves a comprehensive development; the second phase consists of a project developed by SABIC for its employees; the third and fifth phases are awaiting approval from the municipality; as for the … Read more

Real Estate Development Fund’s investment portfolio totals 21 billion… and its revenue-generating capacity has been increased to 6 billion riyals annually

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Reading time: < 1 MinuteThe Real Estate Development Fund’s current investments in the capital markets total approximately 21 billion riyals, Khalid Al-Amoudi, the fund’s general supervisor, explained that the fund uses the profits from these investments to pay interest on loans to individuals, noting that Saudi Arabia is the only country that offers a 100% profit-sharing service to a large segment of its citizens. Al-Amoudi confirmed that work is currently underway … Read more

Asas Real Estate Begins Selling 1,500 Mixed-Use Lots in the Basateen Al-Zubair Project

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Reading time: < 1 MinuteAsas Real Estate, the real estate arm of Sharjah Islamic Bank, announced the start of sales for approximately 1,500 mixed-use land plots, with sizes starting at 5,000 square feet and priced at 340,000 dirhams, in the Basateen Al Zubair project. The plots offered for sale—which are available to UAE nationals and citizens of Gulf Cooperation Council (GCC) countries—are located within a fully serviced development and include residential plots, mixed-use residential and commercial plots, and … Read more

Ministry of Housing statistics reveal 45 projects to create more than 13.8 thousand housing units

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Reading time: < 1 MinuteIn statements released regarding projects for prefabricated housing units, the Ministry of Housing revealed that it is overseeing 45 projects to construct more than 13,800 housing units in various regions of the Kingdom. Of these, 28 projects have been completed, while approximately 17 are currently under construction. The Ministry has begun handing over units in 20 completed projects.

Ministry of Finance: Revenue from rents on state-owned land and farms in Al-Ahsa exceeds 13 million riyals

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Reading time: < 1 MinuteThe Ministry of Finance—Al-Ahsa Branch announced that annual revenue from the leasing of state-owned land and farms in the cities, villages, and hamlets of Al-Ahsa exceeds 13 million riyals, noting that the total number of lease contracts for real estate, farms, and gas stations, and cell towers owned by the state and «leased out» exceeds 800 lease agreements, representing 90% of agricultural land. This was clarified by the director … Read more

Turkish Ambassador to Amlak: Saudis are the second largest investor group in Turkey in terms of the total number of residential unit purchases

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Reading time: 6 MinutesHis Excellency Ambassador Erdoğan Kok, Ambassador of the Republic of Turkey in Riyadh, expressed his deep satisfaction with his work as Turkey’s ambassador to the Kingdom of Saudi Arabia, He said he feels at home here, more than four months after assuming his duties as Ambassador of the Republic of Turkey in Riyadh. In this report, His Excellency Ambassador Erdoğan Kök spoke with Amlak Real Estate newspaper, which met with him in his office … Read more

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