Month: October 2021

Video... Learn about the process of real estate ownership applications submitted through the Ehkam platform

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Reading time: < 1 MinuteThe General Secretariat of the Committees for Reviewing Real Estate Ownership Applications (Ihkam), affiliated with the General Authority for State Real Estate, reviewed the process for real estate ownership applications and formal amendments to title deeds. In a visual presentation broadcast by the Secretariat’s Digital Communications Department, the Secretariat explained that applications submitted through the Ihkam digital platform go through four stages, with the first stage beginning in the Examination and Audit Department, which is responsible for … Read more

It costs 80% less than traditional ... HETRANS: Transparent concrete revolutionizes modern construction

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Reading time: 2 MinutesAt a cost 80 percent lower than that of its traditional counterpart, two researchers from the Polytechnic University of Valencia in Spain have successfully designed and patented a new type of transparent concrete that promises to revolutionize the construction industry, as it can be produced very quickly and at an extremely low cost. The researchers, José Albio and Miguel López, have named their new innovation “Hetrans,” as the concrete allows … Read more

A national fund for infrastructure development, lending and financing support

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Reading time: 2 MinutesThe relevant authorities are currently working to launch the «National Infrastructure Fund» with the aim of developing infrastructure projects, involving the private sector in financing and privatization, and helping to reduce dependence on government subsidies by providing innovative financial and non-financial solutions. The fund will have legal personality, financial and administrative independence, and will be organizationally linked to the National Development Fund. In accordance with the regulations, the fund will provide … Read more

A U.S. city for sale for very little money!

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Reading time: < 1 MinuteA small town in rural Tennessee, home to just 15 people, has been put up for sale for $725,000 in what a local real estate agent described as a «wonderful opportunity,» according to *The Independent*. The town of «Water Valley,» located about 43 miles from downtown Nashville in the «Highland Rim» hills of Tennessee, was founded in the late … Read more

Saudi stocks rise 0.3% and close near 11800 points

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Reading time: < 1 MinuteThe Saudi stock market closed Tuesday’s session in positive territory amid gains led by bank stocks, despite profit-taking that affected petrochemical and energy stocks.The general index closed at 11,792 points, up 34 points, or 0.3 percent, while trading volume reached 7.38 billion riyals, concentrated on shares of Al Rajhi Bank, ACWA Power, and Petro Rabigh, in … Read more

October offering of the Kingdom's Sukuk program closes at 8.5 billion riyals

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Reading time: < 1 MinuteThe National Center for Debt Management announced that it has closed the subscription period for investors in its October 2021 domestic issuance under the Kingdom of Saudi Arabia’s government sukuk program denominated in Saudi riyals. The total issuance size was set at 8.500 billion Saudi riyals (eight billion, five hundred million riyals). The issuance was divided into two tranches, the first amounting to 3.905 billion Saudi riyals (three billion, nine hundred … Read more

Important statement from Al Rajhi REIT regarding Al Narjis, Al Anwar and Rama Plaza properties in Riyadh

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Al Rajhi REIT - Selling Real Estate

Reading time: 2 MinutesAl-Rajhi Financial Company issued a follow-up announcement regarding a previous announcement concerning a material development related to the Al-Rajhi REIT. Al-Rajhi Financial stated that this update follows the announcement published by Al-Rajhi Financial on 07-05-1442 AH, corresponding to December 22,, 2020 AD. Al Rajhi Financial Company wishes to clarify that, following negotiations and court hearings, the company, in its capacity as manager of Al Rajhi REIT, has retained a law firm … Read more

In just 4 steps... Learn how to get an “instant residential” license (Infographic)

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Reading time: < 1 MinuteThe Ministry of Municipal and Rural Affairs and Housing noted that beneficiaries can complete the application process for an “Immediate Housing” permit through the “Baladi” platform in just two minutes and in four steps. The “Sakani” program offers its beneficiaries the option of a subsidized loan, with the aim of enabling Saudi families to own their first home by providing support for the purchase of residential units of their choice from the program’s projects currently under construction … Read more

Discussions on Developing Exhibition and Conference Organization in the Real Estate Sector

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Sidra Residential Project Roshan

Reading time: < 1 MinuteThe General Authority for Exhibitions and Conferences held a meeting with the General Authority for Real Estate to discuss ways to cooperate in developing the organization of exhibitions and conferences in the real estate sector and to promote the marketing of joint events between the two parties.During the meeting, examples of outstanding international practices in this field were reviewed, and discussions were held on how to plan exhibitions and conferences that contribute to improving the efficiency of real estate facilities and engaging target audiences at all levels … Read more

Expert reveals: 10 Problems with Saudi Arabia's Privatization Programs

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Riyadh city

Reading time: 3 MinutesThe Project Management Division of the Saudi Society for Urban Sciences held a specialized evening seminar on project management and its role in national privatization programs, presented by Dr. Faisal Al-Sharif and moderated by Dr. Abdullah Al-Kharmani, attended by a number of specialists and individuals interested in project management and its development in the Kingdom. The event began with a discussion of the concept of privatization and its guidelines, which are based on transparency, clarity, speed of implementation, and the establishment of timelines. The event’s moderator, Dr. … Read more

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