Month: October 2018

«SABB completes acquisition of First Bank's assets»

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Reading time: < 1 MinuteSABB Bank and Al-Awal Bank recently signed a binding merger agreement, under which the two parties agreed to take the necessary steps to implement the merger between them. The two banks explained in statements posted on «Tadawul» that, under the terms of the agreement, the merger will be carried out by merging Al-Awal Bank with SABB and transferring all of Al-Awal Bank’s assets and liabilities to SABB. They noted … Read more

Selected by the Financial Times Group... Al Ahli Bank Wins the Award for Best Cash and Trade Banking in the Middle East

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Reading time: < 1 MinuteAl-Ahli Bank was named the Best Bank for Cash and Trade Banking in the Middle East by the Financial Times Group, a global leader in financial and banking news, at the 2018 «The Banker» Awards ceremony. The Financial Times International noted that the key criteria for awarding the prize to the bank included its leadership in providing innovative banking services to corporate clients … Read more

More than 15 real estate companies use modern construction technology in housing projects

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Reading time: < 1 MinuteAbout 15 real estate development companies are currently using modern construction techniques in the Ministry’s projects, according to Mohammed bin Saud Al-Ghazwani, General Supervisor of the Real Estate Development Sector at the Ministry of Housing. The Ministry of Housing recently announced the tenth batch of the 2018 Housing Program, which included 34,533 housing and financing products for beneficiaries. The announced products included 11,705 housing units under construction and 11,928 … Read more

Auctions reveal the valuation! Mr. Abdulaziz Alissa's article

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Abdulaziz Al-Issa: Real Estate Finance

Reading time: 2 MinutesMost buyers or sellers do not know how to appraise their land, as not all land is the same; commercial land may be worth more than residential or agricultural land, and appraising developed properties may be easier than appraising undeveloped land. There is no doubt that land is a very important factor of production. Land is generally divided into three categories: urban, suburban, and rural, or … Read more

Statistics Authority: Saudi Arabia's unemployment rate stabilizes at 12.9 %

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Reading time: < 1 MinuteData from the General Authority for Statistics (GASTA) for the second quarter of 2018 showed a decline in the total number of employed persons based on administrative records in the Kingdom for the second quarter of 2018, reaching 13,018,066 individuals, compared to 13,333,513  in the previous quarter, a decrease of (315,447) individuals from the previous quarter. The number of Saudi employees, as per administrative records, decreased by (25,066) individuals, reaching 3,125,343 individuals … Read more

Ahead of China and Canada in public sector performance Saudi Arabia achieves the highest economic stability index and ranks 39th globally

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Reading time: < 1 MinuteSaudi Arabia, the United Arab Emirates, and Kuwait—countries in the region—ranked at the top in terms of economic stability, according to the 2018 Global Competitiveness Report (GCR) issued by the World Economic Forum (WEF). In the same context, the Kingdom made the greatest progress on the Global Competitiveness Index, rising to 39th place out of 140 countries worldwide. This progress represents the greatest improvement … Read more

“The Mortgage Refinancing Company” Signs an Agreement with Banque Saudi Fransi for Long-Term Housing Finance Solutions

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Real Estate Financing

Reading time: < 1 MinuteThe Saudi Real Estate Refinancing Company signed an agreement with Banque Saudi Fransi, in the presence of Majid bin Abdullah Al-Hogail, Minister of Housing and Chairman of the Board of Directors of the Saudi Real Estate Refinancing Company, with the aim of providing more diverse housing finance solutions at better rates. The agreement was signed at the Ministry of Housing headquarters between the CEO of the Saudi Real Estate Refinance Company … Read more

Custodian of the Two Holy Mosques issues a royal decree approving the organization of the Integrated Logistics Special Zone

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Business activities

Reading time: 5 MinutesThe Custodian of the Two Holy Mosques, King Salman bin Abdulaziz—may God protect him—issued a royal decree approving the regulations for the Integrated Special Logistics Zone. The regulations consist of twenty-one articles, which took effect at the beginning of the current month of Safar. The Official Gazette published the details of the regulation yesterday morning, Friday. The regulation aims to establish a special logistics zone that attracts high-quality investments, where … Read more

Sponsored by Emlak Real Estate Newspaper The Saudi Construction Exhibition welcomes 512 leading companies And 700 projects in the coming months

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Saudi Construction Exhibition

Reading time: 2 Minutes512 companies from 32 countries are participating in “Saudi Construction Expo 2018” to showcase their latest innovations in the construction sector, backed by 38 years of experience in organizing the most prominent exhibitions and conferences leading the growth of the Saudi economy, The exhibition aims to strengthen growing international confidence in the Saudi construction industry, which currently hosts projects worth US$284.3 billion, … Read more

Wide official participation for the Kingdom 4000 global companies to showcase their technologies at GITEX Dubai 2018

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Reading time: < 1 MinuteWith the participation of 4,000 companies from 97 different countries, the government agencies participating in GITEX Dubai 2018 showcased the latest developments in e-services in the Kingdom, attracting a significant number of visitors and interested parties. Representing the Kingdom at the exhibition, which recently concluded, were a number of government agencies, including: the Ministry of Interior, participating with 10 security and service sectors, and the Ministry of Justice, … Read more

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