Month: December 2019

1.8 billion riyals from white land fees will be used for infrastructure projects in the housing sector, says Majid al-Huqail

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Majid Al-Hogail - Budget Meeting - Real Estate Loans - White Lands

Reading time: 3 MinutesDuring an interview with Al-Ikhbariya TV on the program “Budget Meeting,” Housing Minister Majed Al-Hogail explained that 1.8 billion riyals from white land fees had been invested in infrastructure projects in the housing sector. He noted that 400 million square meters of white land had been billed in four cities, emphasizing that the program incentivizes landowners to develop the land… Read more

Minister of Housing during the budget program: We exceeded the 2019 targets “Completion” approves 99 plans Soon to be issued the owners' association system

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Majid Al-Hogail - Budget Meeting - Real Estate Loans - White Lands

Reading time: 3 MinutesHousing Minister Majed Al-Hogail confirmed that the ministry exceeded its 2019 targets by serving more than 300,000 Saudi families through various housing programs, He revealed that 99 plans were approved in a very short time through the “Etmam” Developer Services Center, and more than 33 million square meters of real estate units were processed, while more than 6,000 cooperatives were registered … Read more

Minister of Housing during the budget program: 14 billion riyals allocated for the building technology incentive program and support for Saudi construction factories

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Majid Al Haqeel - Budget Program - Building & Construction

Reading time: 3 MinutesDuring a television interview with Al-Ikhbariya TV titled “The Budget Meeting,” Housing Minister Majed Al-Hogail revealed that the Construction Technology Incentive Program has been allocated a budget of 14 billion riyals and will support Saudi factories in adopting modern construction technologies. (Construction and Building) Al-Hogail explained that construction technologies in Saudi Arabia are still in the first generation, while most countries around the world have reached… Read more

Housing Minister calls on the private sector to support the “Good Housing” initiative”

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Residential Villas - Renting Real Estate - Buying Real Estate

Reading time: 3 MinutesMajed Al-Hogail, Minister of Housing, called on the private sector and individuals to support the “Good Housing” initiative so that it can continue and build on its positive results. Al-Hogail launched the “Let’s Support Jood” campaign via his Twitter account, which focuses on supporting the “Jood Al-Iskan” initiative. (Real Estate) Al-Hogail emphasized, saying, “We hope for continued support from the private sector with the launch of the ”Let’s Support Jood“ campaign, in light of … Read more

Ejar program concludes 2019 with 570,000 lease contracts and 48,000 inspection tours

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Apartments for rent - apartment rental platform - residential rental - real estate lease

Reading time: 3 MinutesThe number of residential and commercial leases registered by the Ministry of Housing’s “Ejar” program reached approximately 570,000 on the electronic rental services network, while the daily average for contract registration on the network during the past period was 1,727 rental contracts, with a monthly average of 52,000 contracts. (Real Estate Rentals) The “Ijar” program explained that this increase in the number of contracts registered through the network … Read more

Arabian Business Saudi Arabia recognizes Riyad Bank as “Fastest Growing Bank in 2019”

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Riyad Bank - Off-plan Selling - Real Estate Finance

Reading time: 3 Minutes“Arabian Business Saudi Arabia” magazine named Riyad Bank the “Fastest-Growing Bank of 2019,“ at a ceremony held recently at The Ritz-Carlton Hotel in Riyadh, attended by numerous CEOs from various sectors, including ”technology, education, banking, finance, tourism, and healthcare.” (Mortgage Financing) Tariq bin Abdulrahman Al-Sadhan, CEO of Riyad Bank, said that the award… Read more

Saudi Plastics and Petrochemicals Exhibition 2020 kicks off in Riyadh on January 13

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Plastics Expo 2 - Real Estate Exhibition

Reading time: 3 MinutesRiyadh Exhibitions Company Limited has stepped up its preparations for the launch of the 17th edition of the “Saudi Plastics and Petrochemical Industries Exhibition 2020,“ which will be held under the Diamond Sponsorship of SABIC and Advanced Petrochemical Company from January 13 to 16, 2020 (corresponding to 18–21 Jumada Al-Awwal 1441 AH). (Real Estate Exhibition) New innovations and extensive local and regional participation. The exhibition, in its current edition, presents… Read more

Al Rajhi REIT acquires educational properties with a purchase value of 210 million riyals

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Al Rajhi REIT - Selling Real Estate

Reading time: 3 MinutesAl Rajhi Financial Company, represented by Al Rajhi REIT, has acquired two new properties as part of an approved process to increase the fund’s total asset value. According to a statement released yesterday, Wednesday, the fund acquired Rawad Al-Khaleej International Schools in Riyadh for a purchase price of 210 million Saudi riyals. (Real Estate Sale) The company explained that the site includes a plot of land … Read more

Mulkia Investment Company acquires Riyadh hotel apartments worth 50 million riyals

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Property REIT - Real Estate Funds

Reading time: 3 MinutesMalakiya Investment Company announced that Malakiya Gulf Real Estate REIT has signed a contract to purchase a commercial property—“hotel apartments”—in the Al-Namoudijiyah district of Riyadh. The property consists of a building licensed as a lodging facility “3-star” hotel apartments with a total built-up area of 11,613 square meters, comprising 128 furnished units spread across “a basement, ground floor, three upper floors, and an annex,” fully furnished and equipped with appliances. … Read more

Saudi Arabia's transportation sector jumps to number one in the world for ease of doing business

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Reading time: 4 Minutes  Saudi Arabia’s transportation sector has jumped to first place globally in terms of ease of doing business, climbing 72 spots in the “Cross-Border Trade” index, which has reduced the time and costs associated with importing and exporting goods. This achievement is the culmination of concerted efforts by various entities involved in the Saudi logistics platform, such as the Saudi General Authority for Ports and Customs and others, to adapt technology and implement … Read more

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