Month: July 2020

NEOM-led tripartite partnership to build $5 billion hydrogen-based ammonia production facility

by
NEOM Project - Factory

Reading time: < 1 MinuteNEOM has signed a three-party agreement with Air Products and ACWA Power to build a world-class, $5 billion hydrogen-based ammonia production plant powered by renewable energy. The project, which will be equally owned by the three partners, will be located in NEOM and will produce green ammonia for export to global markets. The joint venture marks NEOM’s first partnership … Read more

“SAMA denies rumors of freezing the bank accounts of expatriate workers whose financial transactions exceed the value of their wages

by
International Monetary Authority - Real Estate Finance - Real Estate Finance - Insurance - Finance - Real Estate Finance - Residential - Project Finance - Real Estate Finance

Reading time: < 1 MinuteMortgage Financing – The Saudi Arabian Monetary Authority “SAMA” issued a statement denying rumors circulating on social media that banks operating in the Kingdom were planning to freeze the bank accounts of expatriate workers whose financial transactions exceed the prevailing wage levels for their professions. In the statement, “SAMA” confirmed that banks are applying due diligence procedures to all bank accounts … Read more

The digital transformation strategy in the municipal sector adopts 8 main objectives, 10 programs and 72 initiatives

by
Digital Transformation Strategy - Real Estate

Reading time: < 1 MinuteReal Estate – The digital transformation strategy for the municipal sector, recently adopted by Acting Minister of Municipal and Rural Affairs Majid Al-Hogail, outlined three key pillars aimed at advancing municipal services: Enriching the customer experience through innovative and sustainable business models; enhancing the quality of digital city services; and improving the quality and efficiency of the digital system. The strategy will be implemented through eight objectives… Read more

The Red Sea Project plans to build 16 hotels, including 14 maritime resorts that will provide 3,000 hotel rooms

by
Hotels - The Red Sea Project - Investment Projects

Reading time: < 1 MinuteHotels – The Red Sea Development Company has revealed that the first phase of the Red Sea Project will include an international airport, recreational facilities, and 16 hotels. The company stated on the project’s official account that the hotels—14 of which are beach resorts—will provide 3,000 hotel rooms across five islands, in addition to two resorts in the mountainous and desert regions. The project will also include the necessary infrastructure, comprising … Read more

Royal Commission: 18 projects launched in Riyadh at a total cost of more than one trillion riyals

by
Riyadh - Real Estate in Riyadh - Trade Names System

Reading time: < 1 MinuteThe Royal Commission for Riyadh City has unveiled its plans to implement a strategy to double the size of Riyadh over the next decade and transform it into an economic, social, and cultural hub for the region, as part of the capital’s ambitious strategy; The plan is estimated to cost approximately 3 trillion Saudi riyals ($800 billion) and aims to double the population to 15 million people, in line with Vision 2030. Riyadh is a key economic driver and … Read more

Ministry of Housing issues “Real Estate Developer Evaluation Criteria Guide” and promotes an attractive competitive environment

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

Reading time: < 1 MinuteReal Estate Development – The Real Estate Development Agency at the Ministry of Housing has issued the “Guide to Standards for Evaluating Real Estate Developers,” which sets forth professional standards for evaluating real estate developers, including financial, technical, organizational, marketing, and legal capabilities, with the aim of enhancing developers’ capabilities and promoting the sector’s growth. These standards contribute to creating an attractive and competitive environment for the sector, helping to reduce project risks by ensuring developers’ capabilities … Read more

Adoption of the Executive Regulations of the Commercial Courts Law speeds up dispute resolution

by
Commercial Courts - Real Estate

Reading time: 2 MinutesIt included the involvement of the private sector and technical input. The Minister of Justice and President of the Supreme Judicial Council, Dr. Walid bin Muhammad Al-Samaani, approved the Executive Regulations of the Commercial Courts Law, which included a set of procedures and controls for the provisions of the law, consisting of 281 articles, which define the duties of judicial officers, the regulations governing the use of the private sector, the authorization to seek expert opinions, and the expansion of the pool of experts to include consultation with… Read more

Ministry of Justice launches real estate clearance service via video conferencing through Najeez portal

by
Notarization and Real Estate Clearance

Reading time: 2 MinutesThe Ministry of Justice announced the launch of a real estate discharge service via video call for those who are unable to complete the discharge process through notaries or via the electronic discharge service on the «Najiz» portal (najiz.sa), This is intended to facilitate the process for beneficiaries and save them time and effort. The Ministry clarified that to use the real estate discharge service via video call, users must follow a series of important steps that … Read more

Enforcement Center exclusively handles judicial liquidations issued by enforcement courts

by
- Real Estate - Isnaad Center - Real Estate Auctions

Reading time: < 1 MinuteReal Estate Auctions: Pursuant to an agreement with the Ministry of Justice, the Enforcement and Liquidation Center «Enfaaz» has officially begun carrying out judicial liquidations issued by enforcement courts. The agreement specifies the enforcement tasks assigned to the Center, along with their regulations and governance, with the aim of expediting the fulfillment of rights. Under the agreement, the Center will enable licensed private-sector entities to participate and compete in the sale and liquidation activities related to enforcement cases under … Read more

Due to coronavirus losses. Zara plans to close 1,200 stores around the world

by
Zara - Real Estate Closing

Reading time: < 1 MinuteThe global clothing brand “Zara” plans to to close 1,200 stores worldwide in order to boost sales through its online stores due to the novel coronavirus, while its workforce will remain stable after employees were offered roles in other positions, such as delivering online purchases. (Property Evictions) Media sources reported that the closures are concentrated in Asia … Read more

© 2026 Amlak Real Estate Newspaper | All rights reserved.