Month: December 2018

Eastern Chamber calls for forming real estate alliances to build large housing projects

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Contracting - Investment - Real Estate Finance

Reading time: < 1 MinuteThe Real Estate and Urban Development Committee at the Eastern Chamber called on real estate developers to invest in opportunities to implement large residential projects and build different units that suit all desires, this came during the expanded meeting of the real estate sector in the Eastern Province, at the headquarters of the Chamber in Dammam, which was headed by the head of the committee, Engineer Hamed Benhamri, in the presence of Vice President of the Chamber Hamad bin Mohammed Al-Bouali, a number of ... Read more

The largest budget the Kingdom has ever seen. Spending 1.030 trillion riyals. Revenues 975 billion riyals ... and the deficit decreased to 136 billion riyals

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Reading time: 2 MinutesThe Council of Ministers, in its session held under the chairmanship of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud - may God protect him - at the Yamama Palace in Riyadh yesterday, the eleventh of the month of Rabi'II, 1440 AH (December 18, 2018), approved the state general budget (the Kingdom's budget) for the new fiscal year 1440/1441 H. King Salman stressed: "We ... Read more

Amlak's Secretary General of Tasfeeha 144 lots sold for more than SAR 245 million at Nakheel Lakes auction

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Reading time: < 1 MinuteThe Secretary General of the Real Estate Contributions Committee, Mr. Hamza Al-Askar, revealed in a special statement to “Amlak Real Estate” newspaper immediately after the end of the auction of the Palm Lakes scheme organized by Adeer Real Estate Company in Makkah Hall in the Holy Capital on its second day, that 244 separate pieces were sold between residential, commercial and balcony pieces with a total value of more than 245 million riyals, and Al-Askar explained that ... Read more

US$3.9 billion in new hotel investments expected over the next five years

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licenses

Reading time: 2 MinutesThe second edition of the Saudi Hotel Investment Conference (SHIC) is set to feature a host of prominent figures from the Kingdom's hospitality industry, including HRH Prince Sultan bin Salman bin Abdulaziz, Chairman of the Saudi Commission for Tourism and National Heritage, Abdullah bin Mohammed Alissa, Chairman of Dur Hospitality, and Abdullah bin Nasser Al Daoud, CEO of Al Tayyar Travel Group Holding. Implementation of projects ... Read more

Ministry of Housing signs agreements with the private sector to build 6089 housing units (villas and apartments)

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Reading time: 2 MinutesThe Ministry of Housing, represented by the “Sakani” program, signed a number of agreements with real estate development companies to implement and build 6089 housing units: Villas, townhouses, and apartments, this came on the sidelines of the “Sakani” conference yesterday. The signed agreements target 7 regions to establish integrated housing projects in terms of infrastructure and service facilities. The companies signed to build units ... Read more

122 lots sold on the first day, Ader Properties continues to sell at Nakheel Lakes Auction this afternoon

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Reading time: 2 MinutesToday, Tuesday, December 18, Adeer Real Estate Company continues to receive real estate professionals, businessmen, companies and individuals on the second day of the auction of the Nakheel Lakes Scheme at the Makkah Hall in the Holy Capital, and for its part, the Real Estate Contributions Committee announced the success of the first day of the auction and the sale of 122 land plots (residential-commercial) for a total amount of 118,532,280 SAR, and the auction witnessed a large turnout of men ... Read more

Real Estate Fund launches real estate advisor service to introduce financing options and solutions

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Real Estate Finance - Riyadh - Real Estate Fund

Reading time: < 1 MinuteThe Real Estate Development Fund has launched the “Real Estate Advisor“ service, with the aim of conducting a comprehensive analysis of the beneficiary's credit status and introducing him to the financing options and solutions available for real estate financing that suits the beneficiary's capabilities and ambitions. The Fund explained that the launch will help the beneficiary in the process of making appropriate decisions, in addition to increasing the level of satisfaction of beneficiaries with the services provided to them by the Ministry of Housing and the Real Estate Development Fund. He said ... Read more

White Land Fees Violations Committee detects 101 violations and issues fines to violators

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White Land Fees Program

Reading time: < 1 MinuteThe number of violations issued by the White Land Fees System amounted to 101 violations, and the committee to consider violations and objections to the White Land Fees System issued 83 decisions to impose financial penalties on a number of violators of the system or regulations. According to the official account of the White Land Fees System on Twitter, work is underway on the remaining violations. The Ministry of ... Read more

Today, Monday afternoon. Nakheel Lakes Auction in Makkah welcomes businessmen to offer 289 full-service lots

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Reading time: 2 MinutesAdeer Real Estate Company started today to receive businessmen, companies and their agents to register to enter the auction of the Palm Lakes scheme in the Holy Capital, which will be held this afternoon, Monday, December 17, at the Makkah Grand Hall in Makkah, a real estate auction under the supervision of the Real Estate Contributions Committee ”Tasfiqah”. The Nakheel Lakes scheme is located within the Haram boundary, northwest of Makkah, on the extension of Umm al-Mu'mininin Aisha Road. Read more

Abdulaziz Al-Issa writes: Preventing building permits for a model capital

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Abdulaziz Alissa - Riyadh train tracks - 95th National Day

Reading time: 2 Minutes In an advanced and stimulating step to promote a new urban boom in the city of Riyadh, the royal directives were issued to accept the proposals pushed by the Ministry of Municipal and Rural Affairs to stop granting building and urban planning licenses for a number of main streets in Riyadh, in order to raise the quality of urban design in the capital, which is the civilizational address of any country because it is the focus of the world's attention and the impression of its visitors. The decision was signed ... Read more

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