Month: September 2019

The value of loans granted by banks to the public and private sectors rose to 3%

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Reading time: 2 MinutesThe value of loans extended by Saudi banks to non-financial government institutions and the private sector rose by 3.1% by the end of July 2019, reaching 1,544.7 billion riyals compared to approximately 1,493.03 billion riyals during the same period in 2018. This was revealed in the monthly bulletin issued by the Saudi Arabian Monetary Authority (SAMA), as loans granted … Read more

More than 7,000 factories in the Kingdom with a total capital of over 1.195 trillion riyals

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Reading time: 2 Minutes  The number of factories in the Kingdom stands at approximately 7,563, employing around 1.48 million workers, with a total capital of approximately 1.1952 trillion riyals… «Industrial Activity» … The Ministry of Energy revealed this, and in its report on the Kingdom’s industrial activity through the first quarter of 2019, the Ministry explained that industrial activity ranged from non-metallic mineral industries, accounting for 21.1%... Read more

The value of financing provided to SMEs rises to more than 113 billion riyals

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Reading time: 2 MinutesThe value of financing provided to small and medium-sized enterprisesa significant increase, rising by 6 percent to 11.77 billion riyals, reaching 113.03 billion riyals by the end of the second quarter of 2019 compared to the end of the same period last year, while financing provided by banks and finance companies declined slightly on a monthly basis by 0.1 percent … Read more

 «Ejar»: Three thousand reports on real estate brokerage facilities and 28 thousand monitoring tours

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Reading time: 2 MinutesThe Ministry of Housing’s «Ijar» program has received more than 3,000 complaints against real estate brokerage firms, The program stated that the number of inspection rounds has exceeded 28,000 since the program’s launch, including 12,717 rounds in 2019, during which numerous violations were detected, ranging from exceeding brokerage commission limits to registering contracts outside the system or engaging in … Read more

More than 773 million riyals deposited in the accounts of subsidized mortgage beneficiaries

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Reading time: 2 MinutesThe Real Estate Development Fund deposited more than 773 million riyals into the accounts of citizens who are beneficiaries of the «Sakani» program run by the Ministry of Housing and the Real Estate Fund, for the month of August… «Mortgage Loan»… The Fund announced this in a press release, explaining that the monthly deposit into beneficiaries’ accounts is intended to supplement the profits from subsidized mortgage contracts, with approximately 207 million riyals allocated for this purpose this month… Read more

Real estate accounted for 75%...Saudi courts conduct 100 public auctions in a year  

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Auction - Courts

Reading time: 2 MinutesDuring the past Hijri year, courts in Saudi Arabia held approximately 100 public auctions… Informed sources indicated that commercial and investment properties accounted for about 75 percent of the total auctions, with the Riyadh region hosting 65 of these auctions, followed by the enforcement courts in the Qassim region, then the Makkah region, and the enforcement courts in Al-Ahsa, while non-real estate auctions varied between… Read more

Covering an area of over 40,000 square meters, «Asas Al-Aqar» acquires the «Riyadh Al-Narges 2» residential development

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Reading time: 2 MinutesSheikh Abdullah bin Majid Al-Majid, CEO of Asas Real Estate, announced that the company had completed the acquisition of the «Riyadh Al-Narges 2» residential project in mid-August 2019,  located in the northern part of Riyadh and registered under No. 3848, with an area exceeding 40,000 square meters. Sales were announced to begin immediately, with options for entire blocks or individual residential units… Read more

The Kingdom's imports fell by more than 111% in the second quarter of this year

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Reading time: 2 MinutesSaudi Arabia’s imports fell by 11.5 percent during the second quarter of this year, while G20 exports totaled approximately $3.1 trillion. This was revealed in a report issued by the Organization for Economic Cooperation and Development (OECD). Seasonally adjusted international merchandise trade in the G20, expressed in U.S. dollars, continued its downward trend in the second quarter of 2019. … (Report … Read more

12 million illegal products seized in Saudi Arabia during the second quarter, with an average of 879 reports per day

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Reading time: 2 MinutesThe Ministry of Commerce seized 12 million non-compliant products during the second quarter of 2019, based on 88,730 reports received through the communication channels it provided, at a rate of 879 reports per day… (non-compliant products). The Ministry clarified that the violations included food products, cosmetics and personal care items, detergents, electrical and electronic goods, and spare parts, noting that the number of reports during the first quarter… Read more

In the latest global report, the Saudi market has improved its ranking in the consumer confidence index

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Reading time: 2 MinutesA recent study covering 24 markets around the world revealed that the global consumer confidence index for August 2019 remained unchanged from the previous month, and remains 0.9 points higher than three months ago. The global index shows signs of stability, registering a score above 50 points for the second consecutive time this year, reaching 50.2 points…. Confidence … Read more

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