Month: January 2019

GCC Commercial Arbitration Center identifies Jeddah, Qassim, Bahrain, Abu Dhabi and Oman to qualify and prepare arbitrators

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Commercial arbitration

Reading time: 2 MinutesThe Gulf Cooperation Council (GCC) Commercial Arbitration Center, “Dar Al-Qarar,” has identified five cities to launch its professional programs for 2019, announcing its intention to train and prepare arbitrators in Al-Qassim, Jeddah, Bahrain, Abu Dhabi, and Amman. Partnership and Cooperation to Support Commercial Arbitration: On this occasion, Ahmed Najm, Secretary-General of “Dar Al-Qarar,” explained that the center continues to … Read more

“Saudi Exports” Participates in Arab Plast Exhibition in Dubai… 17 Saudi Companies Showcase Their Products

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Saudi exports

Reading time: 2 MinutesWith a pavilion featuring 17 national companies, the Saudi Export Development Authority in the 14th edition of the ArabPlast exhibition in Dubai, which will be held from 29 Rabi“ al-Thani 1440 AH, corresponding to January 5, 2019, for a period of three days. This marks the second time ”Saudi Exports“ has participated in the Arab Plast exhibition in Dubai, having also participated in the 13th edition… Read more

“Al Yesser signs a proxy investment agreement with Saudi Kuwait Finance House

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Funding

Reading time: < 1 MinuteAl-Yusr Leasing and Finance Company has signed an investment agency agreement with the Saudi Kuwaiti Finance House, under which Al-Yusr Leasing and Finance Company will act as an investment agent on behalf of (the Bait Al-Tamoil Al-Yusr Fund), which was recently launched by the Saudi Kuwaiti Finance House through a private, closed offering as a financing fund operating in accordance with the provisions of Islamic Sharia. It is worth noting that Al-Yusr has … Read more

The city's economic center was introduced. Jubail presents investment opportunities to Malaysian economic delegation

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Investment

Reading time: 2 MinutesEngineer Mustafa bin Mohammed Al-Mahdi, CEO of the Royal Commission for Jubail, welcomed Malaysian Minister of Economic Affairs Mohamed Azmin bin Ali and his accompanying delegation today at the Visitor Center in Jubail Industrial City. The purpose of this visit was to learn about the economic and investment standing of the Royal Commission for Jubail through the exemplary story of the establishment, operation, and development of Jubail Industrial City, where the Director of the Integration Department presented … Read more

Al Ahli and Riyadh Bank's merger announcement puts pressure on other banks to form strong banking entities

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Real Estate Finance Companies - Riyad Bank

Reading time: 2 MinutesIn a joint move, Al-Ahli Bank and Riyad Bank announced the start of merger talks to form a strong banking entity with assets exceeding approximately 685 billion riyals, Observers and experts believe that the involvement of the Public Investment Fund—the largest shareholder in both banks—will spur and facilitate the merger process, as the Fund seeks to strengthen the banks’ position and create a massive bank capable of competing and keeping pace with the economic transformation … Read more

92 residential schemes approved in 2018 with an area of more than 196.2 million square meters

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real estate - building permits - projects - residential real estate development - projects - schemes - residential projects

Reading time: 2 MinutesThe “Etam” Developer Services Center announced that it had approved 92 residential development plans in 2018, covering an area exceeding 196.2 million square meters across all regions of the Kingdom. This brings the total number of residential development plans approved through “Etam” since its establishment to 159 plans with a total area of 292.3 million square meters, thereby bolstering residential projects in the Kingdom. Providing more residential projects, the supervisor of real estate development explained … Read more

The Minister of Justice issues a judicial circular stipulating that judgments should not be based on mere suspicion or charges... It must be either a conviction or an acquittal

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Development

Reading time: 2 MinutesThe Minister of Justice and President of the Supreme Judicial Council, Sheikh Dr. Walid bin Muhammad Al-Samaani, issued a historic judicial circular regarding the development of substantive principles in the consideration and adjudication of cases, taking into account the criminal description of the conviction prior to issuing the judgment, ensuring that the judgment does not contain any suspicion or accusation, while considering all means of evidence, including admissible circumstantial evidence. … Read more

The White Land Fees Program has issued 132 citations so far... and the penalty could amount to 100% of the specified fee

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Real Estate - Residential Land - White Land

Reading time: 2 MinutesThe total number of violations issued by the Ministry of Housing’s “White Land” Fee System program has reached 132 to date, after the program recently issued 31 decisions imposing fines on a number of residential and commercial landowners who violated the regulations. The fines and financial penalties imposed by the program vary depending on the type of violation, with the maximum amount reaching 100% … Read more

The Real Estate Fund Announces Extension of Unified Call Center Hours to 12 Hours a Day

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Real Estate Fund - Real Estate Finance

Reading time: < 1 MinuteThe Real Estate Development Fund announced the extension of its unified call center’s operating hours to 12 hours a day, from 8:00 a.m. to 8:00 p.m., for six consecutive days from Saturday through Thursday. The Real Estate Development Fund’s decision to extend the unified call center’s operating hours beyond regular business hours is a continuation of the development-oriented approach pursued by the administration… Read more

“Sorting Real Estate Units” program succeeds in sorting 30,414 residential and commercial real estate units representing 8 million square meters

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Real Estate Unit - Housing Construction - Housing Sector

Reading time: 2 MinutesThe number of sorted real estate units reached 30,414, representing eight million square meters of residential and commercial units, since the launch of the online portal for the “Real Estate Unit Sorting” program in March 2017. The program has seen a remarkable increase in classification requests, as it allows beneficiaries to submit classification requests electronically without having to visit the Ministry of Housing, thereby reducing the time required to process the request … Read more

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