Month: November 2019

Saudi Real Estate Company starts developing the facilities of Al Widyan project northwest of Riyadh

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Real estate project

Reading time: < 1 MinuteThe Saudi Real Estate Company has signed a partnership agreement with the U.S.-based Arabian Dream to develop a shopping and entertainment center on the site of the Al-Wadiyan project, located northwest of Riyadh and wholly owned by the Saudi Real Estate Company. (Real Estate Project) The project is expected to cost $5 billion, and work will be carried out over the next six months to finalize agreements, complete designs, and obtain permits… Read more

Ministry of Justice authorizes GCC nationals to dispose of land they own

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Sale of real estate

Reading time: 2 MinutesThe Ministry of Justice issued a circular to all its departments stipulating that the Ministry shall grant authorization to citizens of the Gulf Cooperation Council (GCC) states to dispose of the land they own before the expiration of the four-year period specified in Article 3 of the Regulation on Real Estate Ownership by Citizens in Member States of thefor residential and investment purposes, issued by Royal Decree No. (M/22) dated 3/4/1432 … Read more

Real estate prices fell by 2.7% in the third quarter

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Riyadh - Real Estate in Riyadh - Trade Names System

Reading time: 2 MinutesThe real estate index recorded a 2.71% decline in property prices during the third quarter of this year compared to the same quarter last year, and a quarterly decline of 0.41% compared to the second quarter of this year, according to the quarterly report on the real estate price index issued by the General Authority for Statistics. In detail, the report stated that the general real estate price index … Read more

CMA approves Aramco's IPO and registration of a portion of its shares

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Aramco Shares - Economy - Aramco IPO

Reading time: 2 MinutesThe Capital Market Authority announced the issuance of a decision by the Authority’s Board approving Saudi Arabian Oil Company (Saudi Aramco)’s request to register and offer a portion of its shares for public subscription. The prospectus will be published prior to the start of the subscription period. (Aramco shares) The prospectus contains the information and data that investors need to review before deciding whether or not to invest, including … Read more

British firm designs Red Sea Project airport to accommodate 900 passengers per hour

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Hotels - The Red Sea Project - Investment Projects

Reading time: 2 MinutesThe Red Sea Development Company has begun taking the first steps toward implementing the airport for the Red Sea Project, having signed a contract for its design with the British firm “Foster and Partners.” The airport will have a capacity of one million passengers and will serve both domestic and international flights, with a total peak capacity of 900 passengers per hour. The airport will also feature a sustainable, environmentally friendly design … Read more

The Real Estate Fund Call Center completes 63% of the total mortgage contracts for residential products

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Real Estate Finance - Mortgage Loans

Reading time: 3 MinutesThe Real Estate Fund’s call center in Riyadh has achieved significant milestones through the services it has been providing since its establishment in March 2018 to beneficiaries of the “Sakani” program who are registered on the waiting lists of the Ministry of Housing and the Real Estate Fund, highlighting the quality standards and follow-up procedures it applies in providing services to beneficiaries. The center has contributed to the completion of 63% out of the total number of real estate financing contracts… Read more

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