Month: December 2021

“Jadwa releases budget report Ministry of Finance and National Debt Management Center prepare annual borrowing plan for 2022

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Jadwa Investment

Reading time: < 1 MinuteJadwa Investment has released a report on the Kingdom’s 2022 budget, stating that the Ministry of Finance is working alongside the National Debt Management Center to prepare an annual borrowing plan for 2022, and likely for subsequent years, such that the new debt will be used for one or all of the following purposes: to repay maturing debt in the future, to take advantage of favorable market opportunities to support … Read more

Mayor of Al-Harak municipality inspects a number of sites and inspects the site of the sixth citrus festival

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Mayor's visit to the fire

Reading time: < 1 MinuteThe Mayor of Al-Hariq Governorate, Mr. Fahd bin Abdullah Al-Damikhi, inspected a number of sites and facilities in the governorate, including a field visit to the site of the New Citrus Festival, located west of Al-Hariq, as well as the courtyards of King Abdulaziz Mosque and the Al-Hariq Lookout. Al-Damikhi inspected the site of the Sixth Citrus Festival, which will be held from 24/5/1443 AH, corresponding to December 29 … Read more

Real estate articles: Sami Abdulaziz writes in his corner real estate terminology: Smart Buildings (1)

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Smart Buildings 1 - Sami Abdulaziz

Reading time: < 1 MinutePeople have always sought a home where they can find comfort and security. Over time, the need for and desire for a more comfortable life have become the driving force behind innovators and scientists, leading to the development of smart homes. It is not just about individual comfort; artificial intelligence is also used to optimize energy use and reduce operating costs through devices that track building occupancy and provide analytical data on occupancy rates… Read more

«Contractors Authority sets January 30th deadline to register for the Contracting Excellence Awards

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Contractors Organization

Reading time: < 1 MinuteAcross 10 diverse categories, the Saudi Contractors Authority has launched the first edition of the 2021 Construction Sector Excellence Awards, which are now open for registration through January 30, 2022. The initiative aims to highlight innovations in the local industry and to develop and promote the construction sector in the Kingdom. It also aims to motivate and support those working in the sector and to work diligently to raise the standards for award eligibility, as entries are subject to evaluation criteria… Read more

Editor-in-Chief Abdulaziz Al-Issa writes about the signing of the Professional Charter: The Mediator… and the Real Estate Oath

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Reading time: < 1 MinuteMeasures to address arbitrariness, lack of discipline, and non-compliance with regulations and rules in the real estate sector require long-term policies; This should be done in a systematic and well-thought-out manner through multiple stages, during which draft regulations are presented to the public and experts for feedback. Perhaps this approach has earned the satisfaction and acceptance of those involved in the sector.    The approval and enactment of the real estate brokerage regulations did not come as a surprise… Read more

The Council of Ministers approves the Kingdom's 2022 budget with spending of 955 billion riyals. Reducing public debt to 25.9 %

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Kingdom Budget 2022

Reading time: 4 MinutesAt its meeting held today, 8 Jumada al-Awwal 1443 AH, corresponding to December 12, 2021, under the chairmanship of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz—may God protect and preserve him—the Council of Ministers approved the State General Budget for the fiscal year 1443–1444 AH (2022 CE), with total expenditures of 955 billion riyals, total revenues of approximately 1,045 billion riyals, and a surplus of approximately 90 billion riyals. Strong support for the health and … Read more

The Ministry of Finance is organizing the 2022 Budget Forum today and tomorrow

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Kingdom Budget Forum

Reading time: < 1 MinuteThe Ministry of Finance is organizing the 2022 Budget Forum today, with the participation of a number of ministers and officials, to shed light on next year’s budget, which was approved by the Council of Ministers at its meeting yesterday, Sunday, chaired by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz—may God protect him. The forum, which will take place on December 13 and 14, consists of five sessions; in the first session, each … Read more

Partnerships with the private sector... require a clear definition of the services provided and a specification of the project’s financial, human, and technical resources

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_Partnerships with the Private Sector: Rules and Regulations

Reading time: 3 MinutesPublic-private partnerships work to build sustainable partnerships to implement effective development plans and achieve national goals and objectives. In this section, we highlight the concept of public-private partnerships, the purpose of these partnerships, the parties affected by them, and the regulations and legislation that support them. A partnership is defined as a cooperation agreement between a government agency and a private entity… Read more

Prince Khalid Al-Faisal hands a number of citizens their real estate deeds in Makkah

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Prince Khalid Al-Faisal honors -1

Reading time: < 1 MinuteIn the presence of Ihsan Bafqih, Governor of the General Authority for State Property, His Royal Highness Prince Khalid Al-Faisal, Advisor to the Custodian of the Two Holy Mosques and Governor of the Makkah Region, presented a number of citizens with their property deeds for properties in the region at the Emirate’s headquarters in Jeddah. His Highness listened to an explanation from the Governor of the Authority regarding the tasks and roles of the committees reviewing applications for real estate ownership, which are composed of six government sectors … Read more

«Mulkia Investments announces the launch of its real estate fund »Mulkia-Mada'in Real Estate Fund«

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Royalty Fund - Mada'in Real Estate

Reading time: < 1 MinuteMulkiyah Investment Company announced today the launch of its real estate fund, “Mulkiyah Fund – Madain Real Estate,” as a closed-end private real estate fund launched in partnership between Mulkiyah Investment Company and Madain Al-Asr Real Estate Company. For his part, Mr. Omar bin Abdulkarim Al-Othaim, Acting CEO of Mulkiyah Investment Company, explained that the fund’s subscription amounts will be invested in the acquisition … Read more

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