Month: August 2018

Alternative real estate is booming 350 thousand alternative properties in the UAE worth 67.2 billion dirhams

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Reading time: < 1 MinuteSpecialized global reports have shown that the number of projects in the alternative real estate sector in the United Arab Emirates has reached 350, with a total value of approximately $67.2 billion (18.3 billion), in the education and healthcare sectors, and BNC Network, which specializes in project management and tracking, confirmed that the construction sector leads the sectors benefiting from this trend. The data indicates … Read more

The International Monetary Fund reaffirms its confidence in the Saudi economy and confirms accelerating growth in the non-oil sector

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Saudi Arabia's economic growth

Reading time: < 1 MinuteThe International Monetary Fund (IMF) has reaffirmed its confidence in the Saudi economy, noting that the government is moving forward with economic reforms and that the Kingdom’s non-oil economic growth will accelerate this year regardless of when the Aramco IPO takes place. Reuters quoted Tim Kalin, head of the IMF mission to Saudi Arabia, as telling reporters after annual consultations with the Saudi government: «Aramco is part of the program … Read more

As construction quality standards are set to be implemented, the Ministry of Housing is working to train 1,800 “building inspectors”

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Reading time: < 1 MinuteThe Ministry of Housing is working to certify 1,800 building inspectors to obtain a construction quality certification; they will be trained in phases over the coming period. The construction quality inspection service is expected to begin in the Kingdom’s major cities in the fourth quarter of 2018, with the remaining regions to be covered gradually by mid-2019. In this regard, the spokesperson explained … Read more

Here I am, O Allah, here I am... Millions of pilgrims heading to the Sacred House of Allah arrive at Mount Arafat in a solemn procession...

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Reading time: 2 MinutesAt dawn this Monday, the 9th of Dhu al-Hijjah 1439 AH, the caravans of pilgrims to the Sacred House of God began making their way to the sacred plain of Arafat, filled with a spirit of faith marked by reverence and serenity, surrounded by divine care, they walked in supplication, imploring Allah, the Exalted, to bestow upon them forgiveness, mercy, and deliverance from the Fire. The caravans of the guests of the Most Merciful were accompanied to Mashar… Read more

The Saudi Arabian Monetary Authority lifts the ban on three companies and currency exchange firms and places them under supervision

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Reading time: < 1 MinuteThe Saudi Arabian Monetary Authority (SAMA) announced in a decision that it has lifted the suspension and permitted a number of currency exchange companies and institutions to resume their business activities, following the companies« fulfillment of the technical requirements for compliance with regulatory and supervisory controls, while at the same time reiterating its decision to place Mohammed Hassan Bitar & Sons Exchange Company under enhanced monitoring until it verifies the company’s effective implementation of regulatory controls … Read more

More than two million pilgrims have been heading to Mina since early morning, and the wise leadership is harnessing all resources for the comfort of the pilgrims

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Reading time: < 1 MinuteBy the grace and guidance of Allah, caravans carrying more than two million pilgrims began ascending to the plain of Mina this morning to spend the Day of Tarwiyah, following the Sunnah of the Prophet, peace be upon him, amid the seamless integration of services and resources prepared by the various authorities responsible for Hajj and pilgrims, in accordance with thethe directives of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and His Royal Highness the Crown Prince… Read more

SABIC is accelerating the development of promising and impactful innovative solutions that will create a market for demand

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SABIC

Reading time: 2 MinutesThe Strategic Business Unit for Specialty Products at the Saudi Basic Industries Corporation (SABIC) announced today that it is accelerating efforts to develop innovative, promising, and impactful solutions that will create a market driven by end-user demand, through collaboration with “Nottingham Spark,” a company specializing in product design and innovative business ventures, headquartered in Cleveland, Ohio, U.S.A., … Read more

The subsidy is calculated based on net income... Two important benefits for beneficiaries registered on the lists of the Ministry of Housing and the Real Estate Fund

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Reading time: 2 MinutesKhalid Al-Amoudi, General Supervisor of the Fund, explained in a press statement coinciding with the announcement of the eighth installment of the “Sakani” program that there are two important benefits that beneficiaries registered with the Ministry of Housing and the Real Estate Development Fund will receive: The first is that the subsidy amount they will receive from the Ministry or the Fund will be included in the beneficiary’s net monthly income, and the second benefit is an exemption from the requirement … Read more

8,000 real estate agents have registered with “Ijar Network”... and the number of sales agents remains unknown

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Apartments for rent - apartment rental platform - residential rental - real estate lease

Reading time: < 1 MinuteThe number of real estate brokers who have joined the “Ejar” network has reached approximately 8,000 certified brokers, while the official spokesperson for the Ministry of Housing, Saif Al-Suwailem, clarified that there are no accurate statistics on real estate brokers specializing solely in sales, as they are not registered on the “Ejar” network. Last February, the Ministry of Housing launched the “Ejar” online rental services network, in collaboration with … Read more

The Ministry of Housing has contacted more than 500,000 beneficiaries... and 2.6 million visitors have accessed the “Sakani” online portal

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Housing Scheme - Real Estate Loan - E-Services

Reading time: < 1 MinuteThe Ministry of Housing reported that more than 2.6 million visitors accessed the “Sakani” website to explore the various housing options offered by the Ministry, Meanwhile, the program’s team made over half a million phone calls and sent text messages to beneficiaries of the “Sakani” program to inform them of the housing options provided by the Ministry, as well as to invite them to visit the projects it has launched in various … Read more

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