Month: August 2021

12.5 billion riyals of foreign remittances in Saudi Arabia in July

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Reading time: < 1 MinuteRemittances from foreigners in Saudi Arabia fell by approximately 17.7 percent year-over-year in July, reaching about 12.52 billion riyals ($3.34 billion), compared to about 15.2 billion riyals ($4.06 billion) for the same period in 2020, a difference of 2.69 billion riyals. According to monitoring by the Economic Reports Unit at the newspaper “Al-Eqtisadiah,” the data was based on … Read more

With a total of 28.84 billion riyals ... The profits of banks operating in the Kingdom rose 52% in 7 months

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Reading time: < 1 MinuteProfits for banks operating in the Kingdom—both Saudi and foreign—reached 3.76 billion riyals in July, compared to 4.31 billion riyals in the same period last year, marking a decline of 12.8 percent, or 551.3 million riyals. According to data from the Saudi Central Bank (SAMA), profits grew by 52 percent during the first seven months of this year, reaching 28.84 billion … Read more

“White Lands”: 9.2 million riyals allocated for infrastructure development for two housing projects in Al-Ahsa

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White land

Reading time: 2 MinutesThe “White Lands” program announced the disbursement of 9.2 million riyals to complete infrastructure work on two residential projects in Al-Ahsa Governorate in the Eastern Province, noting that this amount represents part of the program’s revenues collected from fees imposed on undeveloped land within the urban boundaries of cities subject to the system in its first phase. The program clarified that Article 15 … Read more

Dr. Mons Shujaa writes: Saudi Arabia: Achievements Despite Global Crises

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Reading time: 2 MinutesThe Government of the Kingdom of Saudi Arabia, represented by the Ministry of Health, has spared no effort in addressing the global pandemic since its emergence in Wuhan, China. From the very first moments following the announcement of the pandemic, the wise leadership —may God preserve them—issued a royal decree on June 1, 1441 AH, establishing a special supreme committee to take all necessary precautionary measures and steps to prevent the spread of the pandemic, and in coordination… Read more

A. Nayef Al-Attawi writes: Real estate development is an integrated vision for future cities

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Reading time: 2 MinutesAs real estate developers, we must have a comprehensive vision of real estate development needs and strike a balance between the environment, the economy, and values. Sustainable development meets the needs of current generations without compromising the ability of future generations to meet their own economic needs. Sustainable planning shapes the future of development and determines the extent to which communities can sustain production and regenerate themselves. Urban areas are considered the most important sources of economic prosperity… Read more

Measures to protect valley streams and reefs, prevent ownership and construction, and remove encroachments

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Reading time: < 1 MinuteHigher authorities have instructed the Ministry of Interior, the Ministry of Justice, the Ministry of Municipal, Rural Affairs and Housing, and the Ministry of Environment, Water and Agriculture to take the necessary measures to protect wadi channels and reefs, prevent land acquisition and construction on them, and remove encroachments on them and their tributaries. The newspaper «Umm al-Qura» reported the Prime Minister’s decisions regarding the final report of the committee investigating the disasters resulting from … Read more

“Tatweer Buildings: 7 educational projects inaugurated in Tabuk

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Reading time: < 1 MinuteTBC, a real estate development company owned by the Public Investment Fund and the implementing arm for the Ministry of Education’s projects, has begun work on a number of educational projects in Tabuk. The projects launched by the company include five projects that TBC is fully implementing and two projects that the company is completing. The projects fully implemented by TBC in the region include the Al-Fara’a Bint Zarara Intermediate School for Girls… Read more

“Municipal Affairs” reveals the total invoices for white land fees in all cities of the Kingdom

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Reading time: 2 MinutesThe Ministry of Municipal, Rural Affairs and Housing stated that the total number of white land fee bills issued by the program reached 6,500 (payment orders) covering approximately 950 plots of land in all cities where the land fee system is in effect. Abdullah Al-Hammad, Undersecretary of the Ministry of Municipal, Rural Affairs, and Housing for Land and Surveying, said that the enforcement system for vacant land fee invoices came into effect on … Read more

Saudi delegation to visit Oman today, headed by investment minister

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Reading time: < 1 MinuteA Saudi delegation, led by Minister of Investment Khalid Al-Falih, begins a visit to the Sultanate of Oman today (Sunday) with the aim of strengthening and expanding economic ties and mutual investment between the two brotherly nations.    Engineer Khalid Al-Falih said that during the visit he will hold a series of meetings with a number of Omani officials in the government and private sectors, noting that the visit’s schedule will also include the convening of the investment forum … Read more

Abdulaziz Al-Issa writes: After COVID-19... Where is the world headed?

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Reading time: 2 MinutesIn the early days of the coronavirus outbreak, we wrote about and envisioned what the situation would be like if it were not quickly contained. Our analysis was based on an economic perspective, and what we predicted came to pass exactly as described, along with its impact on economic and real estate activities. Some commented on what we wrote, saying we were being illogical and expressing surprise at our analysis. Today, everything we mentioned is coming true, and we appreciate everyone’s commitment to following the newspaper. Now… Read more

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