Month: October 2018

Cabinet approves amendments to the list of types of activity excluded from foreign investment

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Cabinet of Ministers

Reading time: < 1 MinuteThe Cabinet approved today, under the chairmanship of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz, the amendment of the list of types of activity excluded from foreign investment by excluding from the services sector in that list (service services and provision of workers, including recruitment offices - audio and video services - land transportation services - real estate brokerage services). Dr. Awwad Al Awwad explained ... Read more

The system is characterized by balance and transparency Contracting sector awaits the issuance of the new government tenders and procurement system And offers 83 suggestions for improvement

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System of competitions

Reading time: 2 MinutesAs the new government tenders and procurement system is expected to be issued by the Ministry of Finance during the first quarter of next year, the head of the system development team, Dr. Salem Al-Mutawa, confirmed that the expert body has completed the study of the system, which includes many clauses that protect the contracting industry in the Kingdom. During a seminar organized by the Eastern Chamber recently, Al Mutawa added that the new system ... Read more

Land to be transferred to the Public Authority for State Properties Cabinet approves the transfer of assets and liabilities of the mills to the Public Investment Fund

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Housing Subsidy - Estate Liquidation

Reading time: < 1 MinuteThe Cabinet issued a decision to transfer the assets, rights and obligations of the mills to the companies established by the Public Investment Fund (PIF), in implementation of Cabinet Decision No. (35) dated 27/1/1437 AH, during the session held on Tuesday at Al Yamamah Palace in Riyadh, chaired by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, may God protect him. Read more

UAE issues a federal law banning the disposal of all real estate properties belonging to the government It excludes endowments

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Reading time: 2 MinutesSheikh Khalifa bin Zayed Al Nahyan, President of the United Arab Emirates, yesterday issued Federal Decree Law No. (16) of 2018, regarding the real estate properties of the federal government. The decree stipulates that no federal government entity may dispose of any federal property without the approval of the Ministry of Finance, and unless a decision is issued by the Council of Ministers. Read more

Ministry of Finance closes three tranches of Saudi Riyal-denominated Sukuk offering (2018-10)

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Government Procurement - Ministry of Finance - Real Estate Investment

Reading time: < 1 MinuteThe Ministry of Finance announced the completion of receiving investor applications for its local issuance (2018-10) under the Saudi Riyal Sukuk program, where the size of the issuance was set at a total amount of SAR 3.250 billion. The Ministry explained that the issuance was divided into three tranches as follows: The first tranche, amounting to SAR 2.330 billion for Sukuk maturing in the year ... Read more

Riyadh Metro rail installation nears completion The completion rate for the entire project is 75%

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Riyadh train

Reading time: < 1 MinuteThe King Abdulaziz Project for Public Transport in Riyadh, Riyadh Train, revealed that the completion rate of railway installation is 91%, where 342 km of the 376 km of the Riyadh Train project has been completed. The project announced last week that the installation of the last piece of concrete for the Riyadh train bridges has been completed, thus completing the work of ... Read more

During the first marketing forum General Entertainment Authority: 15 million visitors attending 5500 events in 2018.

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Reading time: 2 MinutesThe General Entertainment Authority revealed the development of its programs and the reasons for its success in achieving its goals by defining marketing plans, building communication platforms that are followed by more than 1.8 million people, and enriching the diverse content, and the authority cited figures on what it has reached since its establishment two years ago, as the number of activities increased from 52 activities attended by 100,000 visitors in its year ... Read more

Facilitating off-plan sales procedures An agreement between the Ministry of Housing and the Water Company to transfer the bills to the tenant

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Reading time: 2 MinutesThe Ministry of Housing and the National Water Company agreed yesterday to jointly coordinate to build an electronic mechanism to transfer water service bills in the name of the tenant after signing the lease contract through the “Ejar” program platform, in addition to joint cooperation to correct the addresses and coordinates of real estate units entered in the program's database, and agreed to facilitate the procedures of the off-plan sales program “Wafi”, and joint work to provide ... Read more

“Residential Program 2018” announces the start of reservations in 4 new villa projects announced by the Ministry

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Reading time: 2 MinutesThe Ministry of Housing revealed the possibility of booking in 4 new projects announced by the ministry within the Residential Program 2018, providing 1767 residential villas in four cities (Al Hofuf, Al Aflaj, Hail and Al Bada'i). The ministry said in a press release that they will be handed over to citizens after the final reservation procedures are completed, indicating that it is possible to visit the inspection and reservation villa that has been fully furnished and equipped in ... Read more

Ministry of Housing launches four new projects and pumps 1767 villas in four cities under the Residential Program

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Reading time: 2 MinutesThe Ministry of Housing announced that it has pumped 1767 residential villas within four new projects for residential villas within the framework of the ministry's ready-made projects in the cities of (Al Hofuf, Al Aflaj, Hail, Al Bidaya), through the “Residential 2018” program, which aims in its second year to allocate 300 thousand housing and financing options for beneficiaries. The ministry said in a press release on Sunday that these projects are available ... Read more

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