Month: April 2020

Riyadh Chamber reviews initiatives to mitigate the impact of the coronavirus pandemic

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Riyadh Chamber - Businessmen Ceremony

Reading time: 2 MinutesAjlan bin Abdulaziz Al-Ajlan, Chairman of the Riyadh Chamber of Commerce, expressed optimism about the promising future of the Saudi economy despite the repercussions of the COVID-19 pandemic, and affirmed that the Kingdom has a strong economy. He praised the role of the Saudi Arabian Monetary Authority (SAMA) in supporting the private sector to overcome this phase. He commended the efforts of the government of the Custodian of the Two Holy Mosques and his trusted Crown Prince—may God protect them—and their support for the private sector, emphasizing the strength … Read more

Economist Dr. Sami Al-Nuwaisar sets the bar for the best real estate auctions

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Real Estate Auctions Economist

Reading time: 2 MinutesEconomist Dr. Sami Abdulaziz Al-Nuwaiser put forward a number of proposals and recommendations for achieving the best results and returns in real estate auctions, and called for the need to conduct marketing and advertising campaigns in a professional manner, He called for adopting the British approach in this regard and outlined several points that must be adhered to, including: 1. When designing marketing materials for the auction, the source of the auction organizer must not be mentioned, … Read more

«Amlak Polls Real Estate Professionals on the Future of Auctions Mixed opinions on online real estate auctions The odds of success are stacked in their favor

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Real Estate Auctions Survey

Reading time: 4 MinutesThe online real estate auction service recently launched by the Ministry of Justice has received mixed reactions from real estate professionals, particularly in its current phase, which coincided with measures taken by the government to curb the spread of the novel coronavirus, It attributed this to the promotion of transparency, increased competition among members of society, the ease of verifying participants’ eligibility, and the reduction of the hassle associated with in-person attendance. Newspaper … Read more

Mohammed Hassan Al-Hassan writes: Specialized online auction sites offer multiple options for selling, specific and direct bidding, and buying without competition

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Reading time: 2 MinutesMy personal experience with online auctions dates back to 2014, when I created a website dedicated to auctions. However, I didn’t have much luck with the Ministry of Justice, so I didn’t return to it—but I was certain I would need it someday.  And indeed, I started thinking about relaunching the site at the onset of the COVID-19 crisis, and currently, thank God, I’m working on improving the site and adding new features. And that’s it… Read more

Royal orders limit unlicensed finance activity and set controls to prevent the exploitation of defaulters

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Retail Housing Finance

Reading time: 2 MinutesThe Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud—may God protect him—issued a royal decree establishing regulations to limit the practice of financing activities by unlicensed entities, in accordance with the Law on the Supervision of Finance Companies, to ensure the accurate identification of violators, expedite their prosecution, and impose the penalties prescribed by law; thereby safeguarding the economy and preventing the exploitation of the public’s needs … Read more

Royal orders modify curfew times and allow some economic activities, including contracting and factories, to operate

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Royal Orders - Private Sector - Labor Market

Reading time: 2 Minutes (Royal Decrees) In light of the deep concern shown by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud —may God support him—who places the utmost importance on the health and safety of citizens and residents, and based on reports submitted by the relevant health authorities regarding the measures taken by the Kingdom to combat the novel coronavirus (COVID-19), and the possibility of transitioning to a partial curfew and the resumption of certain activities … Read more

Real Estate Contributions Liquidation Committee sells the entire land of the Airport Jewel contribution in Dammam

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Real Estate Contributions - Real Estate Contributions - Real Estate

Reading time: < 1 MinuteThe Real Estate Investment Committee announced the sale of the entire Jawharat Al-Matar investment plot in Dammam, in the Eastern Province, which covers an area of more than 10.2 million square meters. «Airport Jewel» is considered one of the stalled real estate contribution projects, with more than 2,000 shareholders and a capital of nearly half a billion riyals. It is worth noting that «Tafseeh» has worked to identify the shareholders in preparation for completing … Read more

Abdulaziz Al-Issa, editor-in-chief, writes: Modification. Post-pandemic investment

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Reading time: 2 MinutesThe blessed month of Ramadan, the best of months, is upon us. Muslims rejoice at its arrival as a month of goodness, love, and connection, and they prepare to welcome it. However, this year will be different due to the coronavirus pandemic, which has deprived the Muslim community of their mosques for fear of the virus spreading. This catastrophic pandemic may, in fact, hold a blessing for us, as it has given us cause for reflection on the greatness of God and His power to change circumstances. Everyone is in… Read more

Online real estate auctions will change the concept of bidding in the sector

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Online Real Estate Auctions-1

Reading time: < 1 MinuteA number of experts and specialists in the real estate sector have affirmed that the electronic real estate auction service launched by the Ministry of Justice will open the door wide to take advantage of the digital infrastructure provided by the state, may God support it, so that the widest possible segment of interested parties throughout the Kingdom can benefit, regardless of location or the need for in-person attendance—a requirement that has previously prevented many from taking advantage of … Read more

As part of its contribution to the fight against the “coronavirus”... Al-Inmaa Bank provides intensive care equipment worth 100 million riyals

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Al-Inmaa Bank - Coronavirus

Reading time: 2 MinutesAl-Inmaa Bank has launched a number of diverse and comprehensive initiatives to help address the repercussions of the coronavirus, starting from the issuance of the first measures approved by official authorities at the onset of this pandemic. These initiatives aim to safeguard the well-being of the bank’s employees, Al-Inmaa’s partners, customers, and beneficiaries of Al-Inmaa Bank’s services, in recognition of the bank’s responsibility and in accordance with the directives of the Kingdom’s government.  The bank has activated its business continuity plans and is operating… Read more

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