Month: September 2021

Saudi REITs: A good indicator of a strong economy and the figures testify to a prosperous real estate future

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Reading time: 3 MinutesSaudi Arabia's economy has returned to growth despite the coronavirus pandemic, which has infected a quarter of a billion people so far, according to a recent report by Al Jazeera Capital. The report monitored the Saudi economy's resistance to the changes imposed by the COVID-19 pandemic, as the economy is recovering from the double impact ... Read more

Calls for the Shura to set a timetable for completing fiber optic coverage in cities

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Reading time: 2 MinutesThe Shura Council discussed on Monday the annual report of the Ministry of Communications and Information Technology (MCIT) for the fiscal year 1441/1442 AH. Shura Council member Mona Al-Fadhli called on the Ministry of Communications and Information Technology (MCIT) to specify the timeframe for completing fiber optic coverage in cities and wireless broadband networks in villages, and to promote the localization of jobs and indicate the job levels of localized jobs, according to what the council posted on its official account ... Read more

“Ejar launches new features and e-services

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Reading time: 2 MinutesThe Ejar program has launched a package of new services, features and improvements to the electronic network for rental services, which contributes to raising the efficiency of the network, facilitating the procedures of the rental process and expanding areas of cooperation with private sector partners. Read more

Royal decree authorizes ownership of land located within an industrial plan in Sharqiya

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Reading time: < 1 MinuteA royal decree was issued to authorize the ownership of land within the industrial plan No. 1/697 (Area C) approved by the Eastern Province Municipality. The deed had been studied by the permanent working group at the Ministry of Justice formed by a noble decree to consider those affected by the suspension or cancellation of their land deeds. The efforts of the task force contributed to the finalization of ... Read more

32 speakers discuss the impact of technology on the construction industry

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Reading time: 3 MinutesHis Excellency the Minister of Municipal and Rural Affairs and Housing, Mr. Majid bin Abdullah Al Haqeel, inaugurated the second Virtual International Contracting Conference and Exhibition, organized by the Saudi Contractors Association, which will run for three days, from September 26-28.The conference aims to be a platform for the contracting sector to learn, learn, exchange experiences and establish a platform for huge projects from ... Read more

To announce a material event... Trading of Saudi Group and Petrochem shares is suspended at the request of the two companies

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Reading time: < 1 MinuteSaudi Tadawul announced the suspension of trading of the shares of the Saudi Industrial Investment Group and the National Petrochemical Company on the market starting today, Monday, September 27, 2021, for one trading session, based on their request in accordance with the provisions of the listing rules and the procedures for suspending the trading of listed securities, in preparation for the announcement of a material event. Tadawul said that trading on the two stocks will be resumed as of ... Read more

Public Investment Fund acquires 25% shares of Emaar Economic City

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Reading time: 2 MinutesThe Public Investment Fund (PIF) and Emaar Economic City (EEC) today announced the completion of an investment transaction in which PIF will become a major shareholder in the company with a stake of 25%. The transaction is in line with the Fund's 2021-2025 strategy to build strategic economic partnerships. It will develop synergies between the company and the Fund's portfolio companies, while the transaction will contribute to improving the infrastructure ... Read more

Saudi Arabia to invest $37 billion in digital infrastructure by 2024

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Reading time: 2 MinutesThe World Economic Forum's Edison Alliance organized a symposium on promoting and scaling digital inclusion, held against the backdrop of the Edison Alliance's 1 Billion Lives Challenge, a challenge to improve the lives of one billion people globally by 2025 through accessible and affordable digital solutions. According to a recent report by the Middle East Institute, it was expected ... Read more

reached 25%. The real estate market is witnessing a record decline in all sectors since July

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Reading time: 2 MinutesThe weekly activity of the local real estate market recorded a record decline of 25 percent, as the total value of real estate transactions stabilized at the end of last week at the level of 2.7 billion riyals, and the decline in the value of real estate transactions included all its main sectors, as the value of residential sector transactions decreased for the second week in a row by 18.9 percent, stabilizing on ... Read more

Starting today. Linking violations “registered on contractors” to classification

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Reading time: < 1 MinuteThe Ministry of Municipal and Rural Affairs and Housing announced today the start of linking violations “registered on contractors” to the classification. It explained that linking the violations registered on contractors to the electronic classification system will affect the classification scores of contractors and the issuance of alternative licenses. She explained that the violations monitored on the facility can be checked and the status of the violation can be corrected through the “Baladi“ platform.

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