“Industry” launches initiative to hire 1,400 officials in construction quarries and crushers

Reading time: 2 MinutesThe Ministry of Industry and Mineral Resources launched today an initiative to train and employ 1,400 officials in construction materials quarries and crushers, as part of its endeavor to achieve the objectives of the comprehensive mining strategy, which includes creating job opportunities for citizens. Read more

Tomorrow. Compulsory insurance for residential buildings in Saudi Arabia

Real Estate Registration - Real Estate Transactions

Reading time: < 1 MinuteCompulsory insurance for residential buildings in the Kingdom, consisting of three floors and less, will come into effect tomorrow, Thursday, to cover construction defects and other elements that weaken the strength and stability of buildings, and the duration of the policy will be ten years. The policy will have a ten-year term and will not be subject to manipulation. Read more

On World Architecture Day Saudi Arabia's architectural renaissance

Reading time: 2 MinutesThe Kingdom of Saudi Arabia joins the countries of the world in celebrating the World Architecture Day, which falls on July 1 of each year, and has achieved a wide urban renaissance that included various regions. The Kingdom is based on a rich stock of architecture or building engineering called “architecture”, which is defined as the science and art of designing and constructing buildings, through which the principles of technology are applied ... Read more

Unemployment rate among Saudis falls to 11.7% in Q1 2021

Reading time: 2 MinutesThe General Authority for Statistics (GASTAT) released the Labor Market Bulletin for the first quarter of 2021, according to the estimates of the labor force survey that GASTAT conducts on a quarterly basis, as the results showed that the unemployment rate of the total Saudi and non-Saudi population (15 years and above) decreased from the estimates of the labor force survey for the first quarter of 2021 to (6.5%) compared to (7.4%) ... Read more

“Enforcement oversees 4 auctions offering more than 35 investment opportunities

real estate

Reading time: < 1 MinuteThe Attribution and Liquidation Center (Enforcement) has announced the holding of several auctions that vary into: Attendance, electronic auctions, and direct sales through (closed envelopes).The auctions are as follows: «Makarem Real Estate Auction», which showcases 32 investment opportunities of commercial and residential properties with a total area of approximately 27 thousand square meters in Riyadh, and the direct sale of «Al Rawabi Properties», which are residential properties with an area of more than 11 ... Read more

Crown Prince launches the National Transportation and Logistics Strategy The main pillars of Vision 2030

Reading time: 3 MinutesHis Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Deputy Prime Minister, Chairman of the Council of Economic and Development Affairs and Chairman of the Supreme Committee for Transport and Logistics, launched today, Tuesday, 19/11/1442 AH, corresponding to 29/6/2021 AD, the National Strategy for Transport and Logistics, which aims to establish the Kingdom as a center ... Read more

“Investment” partners with Janssen to boost healthcare and pharmaceutical capabilities

Investment

Reading time: 2 MinutesThe Ministry of Investment yesterday signed a Memorandum of Understanding (MoU) with Janssen, one of Johnson & Johnson's leading pharmaceutical companies, in the presence of H.E. Minister of Investment Khalid bin Abdulaziz Al-Falih, H.E. Minister of Health Dr. Tawfiq bin Fawzan Al-Rabiah, H.E. Minister of Industry and Mineral Resources Mr. Bandar bin Ibrahim Al-Kharif, and a number of their excellencies and officials from relevant authorities ... Read more

17.4 thousand new housing finance contracts worth 9 billion riyals were registered in May

Reading time: < 1 MinuteNew residential mortgage contracts for individuals during May of this year 2021 recorded about 17,460 contracts, a growth of more than 11% compared to May of last year 2020, which recorded 15.73 thousand contracts worth 7.9 billion riyals, while mortgage financing during May 2021 grew to more than 9 billion riyals by 14%, according to the monthly bulletin issued ... Read more

Saudi Arabia is second globally and first in the Middle East and Asia in a cybersecurity index

Riyadh - Housing Supply

Reading time: 2 MinutesThe Kingdom of Saudi Arabia has achieved a new global achievement by ranking second out of 193 countries and first in the Arab world, the Middle East and Asia in the Global Cybersecurity Index, issued by the United Nations specialized agency for information and communications technology (ITU), achieving a jump of 11 places from 2018, ... Read more

“Refinance” signs an agreement to purchase a “real estate portfolio” to provide liquidity in the residential sector

Reading time: 2 MinutesThe Saudi Real Estate Refinance Company (SRC), in the presence of His Excellency the Minister of Municipal and Rural Affairs and Housing, Mr. Majid bin Abdullah Al-Hogail, signed a partnership agreement with the Arab National Bank, with the aim of providing long-term liquidity in the residential real estate financing market to contribute to increasing the ownership rate to 70% by 2030 according to the targets of the housing program, one of the programs of the Kingdom's Vision 2030. Read more