Month: September 2021

“Jadwa REIT Saudi” is offering additional units at a price of 12.98 riyals to increase its assets by 370 million riyals

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Reading time: < 1 MinuteJadwa Investment Company, the manager of the “Jadwa Saudi REIT” fund, announced the start date for subscriptions to increase the fund’s total assets through a secondary offering to investors, effective from September 26, 2021, through October 7, 2021 (ten business days). The company added in a statement on “Tadawul” that the additional units will be offered at a price of 12.978 riyals per unit, … Read more

“Saudi Arabia to issue tenders for 100,000 workers in Neom City project

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Reading time: < 1 MinuteCNBC Arabia reported, citing its sources, that the Kingdom is currently working to accelerate the pace of work on projects in the city of “Neom.”  The sources explained that Saudi Arabia is preparing to issue tenders for the construction of worker cities with a capacity of up to 100,000 workers. The sources indicated that the relevant authorities are in the process of issuing between 5 and 10 tenders over the coming months… Read more

Gold rises $12 at settlement as risky assets lose ground

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Reading time: < 1 MinuteGold prices rose at the close of trading on Monday, as concerns over Chinese company Evergrande’s debt default rippled through global markets. Investors opted to sell risky assets in favor of safe-haven assets today, pushing the Dow Jones Industrial Average down by more than 800 points during the session, tracking losses in global markets. The Federal Reserve begins its monetary policy meeting tomorrow … Read more

The largest contracting event in the Kingdom ... days away from the “International Contracting Conference and Exhibition”

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الهيئة-السعودية-للمقاولين-1052x526

Reading time: < 1 MinuteThe Saudi Contractors Authority is planning the International Construction Conference and Exhibition, which will take place from September 26 to 28, The Authority is organizing this event, which is the largest of its kind in the Kingdom, to serve as a platform for the construction sector to learn, gain insights, and exchange expertise, as well as to create opportunities for major projects through lectures, workshops, and international events featuring more than 25 local speakers … Read more

with more than 56 million riyals. H.H. the Emir of Sharqiya inaugurates municipal projects in Khafji Governorate

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Reading time: < 1 MinuteHis Royal Highness Prince Saud bin Nayef bin Abdulaziz, Governor of the Eastern Province, launched municipal projects in Al-Khafji Governorate today at his office. These projects, being implemented by the Regional Municipality, have a total value exceeding 56 million riyals. His Highness emphasized the wise leadership’s—may God preserve them—commitment to supporting municipal projects and developing the infrastructure of residential neighborhoods to serve the region’s residents, both citizens and expatriates, … Read more

Enforcement Center announces the liquidation of 26 properties with areas exceeding 500,000 meters

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Real estate auctions

Reading time: < 1 MinuteThe Enforcement and Liquidation Center (Enfaaz) has announced that it will hold five public auctions under its supervision, featuring properties in the Riyadh, Al-Qassim, and Hail regions, from September 26 to 29, 2021. Enfaaz Auctions: These auctions will feature 26 real estate investment opportunities, with a total area exceeding 500,000 square meters, beginning with the Unaizah online auction, which will feature four opportunities… Read more

Dr.. Abdullah Al-Khurmani writes: The real estate sector ... The second source of income after oil and the largest contribution to GDP

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Reading time: 5 MinutesVision 2030 is achieving its strategic goal of diversifying the economy. Riyadh is the target destination and is rising to the forefront of the world’s top ten economic cities. Real estate activity in Saudi Arabia has flourished remarkably and impressively, becoming one of the economy’s most important pillars. Increased demand for real estate is driven by investors’ efforts to pioneer new investment areas. Significant incentives for foreign investment are provided through support in … Read more

China's Evergrande crisis. The new nightmare for global markets (video)

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Reading time: < 1 MinuteGlobal markets, and Chinese markets in particular, woke up to a new nightmare at the end of last week. Borrowing, mounting debt, and defaults to the point where the debt burden reached $300 billion. This development, which took global markets by surprise, heightened fears, coinciding with the ominous 13th anniversary of the collapse of Lehman Brothers. The Evergrande debt crisis did not occur between … Read more

“Zakat, Tax and Customs unveils its new identity

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Reading time: < 1 MinuteThe Zakat, Tax and Customs Authority launched its new identity today (Monday), which aligns with the Authority’s efforts to achieve economic development, facilitate trade, and strengthen customs oversight of the Kingdom’s imports and exports. The Authority emphasized that the identity reflects the significant role played by the Zakat, Tax, and Customs Authority in the development and prosperity of the national economy, amid the collective efforts of society—including individuals and the public and private sectors… Read more

Sudanese government announces confiscation of assets of Saudi businessman Juma al-Juma'a

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Reading time: 2 MinutesLast Thursday, the Sudanese government announced the confiscation of approximately 80 million shares in the «Sudanese Company for Free Zones and Markets» from the shareholder, Saudi businessman Jumaa bin Fahd Al-Jumaa, and two of his sons. Mishaal Al-Sharif, the lawyer representing the shareholders in the case involving Saudi businessman Jumaa Al-Jumah, revealed that action was taken yesterday by sending an urgent telegram to Saudi Minister of Justice Dr. Walid Al-Samaani to contact the Sudanese Ministry of Justice … Read more

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