Month: April 2022

The completion of the procedures of the marginalization mechanisms on sukuk is linked to the restriction and approval of the real estate developer

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Marginalization of instruments

Reading time: < 1 MinuteThe Federation of Saudi Chambers noted the importance of registering the real estate developer in the Ministry's registry and obtaining a certificate of accreditation in one of the approved real estate development activities included in his commercial register, in order to complete the procedures of the marginalization mechanisms on the instruments according to the rules and regulations of the off-plan sale or rental committee, based on the directive issued by the Ministry of Municipal and Rural Affairs and Housing. ... Read more

Saudi Arabia prepares to welcome 100,000 electric vehicles in the coming years

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Electric cars

Reading time: < 1 MinuteThe Kingdom is preparing to receive 100,000 electric vehicles, according to an agreement with Lucid to purchase electric vehicles over ten years, with the aim of diversifying its vehicle fleet to be environmentally friendly. The agreement is an important step in line with the objectives of the Kingdom's Vision 2030, which seeks to achieve wide-ranging reforms at the level of the economy, society and quality of life, and to diversify the economy of ... Read more

Civil Aviation Authority takes direct action to review domestic flight ticket prices

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Reading time: < 1 MinuteThe Civil Aviation Authority announced that it is taking a package of direct measures to review the prices of tickets for domestic flights. The authority said in a statement, “It has recently noticed a change in the pattern of prices of some categories of air tickets, and followed with interest the information circulating about the prices of tickets for domestic air travel.” The authority confirmed that its actions will result in reviewing the pricing structure of air transportation and increasing the seating capacity ... Read more

Ministry of Industry and Mineral Resources offers 13 sites for investment in Riyadh region

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Ministry of Industry and Mineral Resources

Reading time: < 1 MinuteThe Ministry of Industry and Mineral Resources has offered 13 sites for investment in the limestone complex in Nassah Lake in the Riyadh region through competition, targeting investors interested in the stone industry, and the ministry has set May 8 as the deadline for receiving the qualification requirements to compete in the complex. It aims to organize the procedures for competition processes to obtain a building materials quarry license, to exploit the blocks of ... Read more

Eastern Province Development Authority offers investment opportunities in maritime transportation projects

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2 Eastern River Transportation Investment

Reading time: < 1 MinuteThe Eastern Province Development Authority, in partnership with the General Authority for Transport and the Eastern Province Municipality, invited those wishing to invest in maritime transportation projects and related tourism activities to express their interest in investing in these projects through the website of the Eastern Province Municipality during the period from April 24 to May 16, 2022. The CEO of the Eastern Region Development Authority, Engineer Fahad Al Mutlaq, explained ... Read more

18,383 real estate deeds merged since the beginning of the current Hijri year

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Riyadh - Price Control -

Reading time: < 1 MinuteReports showed that the number of properties that have been merged in Saudi Arabia since the beginning of the current Hijri year (260 days), while investment and commercial properties accounted for about 45 percent of these properties, whose owners requested to merge them from the notaries. Notaries in the Riyadh region recorded the highest number of 7554 real estate deeds with a percentage of 41.1 percent, ... Read more

Itqan Real Estate launches its marketing campaign for the sale of Al Hajoun real estate Auction sale coming soon

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Al Hajoun Real Estate Auction by Itqan

Reading time: < 1 MinuteItqan Real Estate Company today launched its marketing campaign for the auction sale of the Al-Hujoon property, which is 600 meters away from the third Saudi expansion of the Holy Mosque, where the total area of the property exceeds 15 thousand square meters, and is characterized by its strategic location and the diversity of investment fields in the holiest places in the world. Mr. Abdulaziz bin Abdulaziz bin ... Read more

“National Housing Company (NHC) launches the second phase of Saraya Al Jawan project north of Riyadh tomorrow

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Saraya Aljawan Projects

Reading time: < 1 MinuteNational Housing Company (NHC) announced the launch of the second phase tomorrow of the “Saraya Al-Jawan” project for beneficiaries of the “Residential” program in the city of Riyadh, within the projects under construction developed by the company in partnership with the private sector north of Riyadh, as an extension of its efforts to increase the supply of residential real estate and provide housing solutions to increase the ownership rate of Saudi families to 70% by 2030 according to the targets of the housing program - ... Read more

10,489 thousand factories under construction in the Kingdom with a capital of 1.345 trillion riyals

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Reading time: < 1 MinuteThe bulletin issued by the National Industrial and Mining Information Center of the Ministry of Industry and Mineral Resources revealed that the number of factories produced and under construction in the Kingdom until the end of the first quarter of 2022 amounted to 10,489 thousand factories, with an estimated capital of 1.345 trillion riyals. According to the bulletin, national factories lead the factories produced and under construction, by type of investment, by 85 percent... Read more

Medina Municipality plans to develop Mishraf and Al Ghurra lands“

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Medina Municipality

Reading time: 2 MinutesThe Medina Municipality plans to develop the “Mashraf” land and the “Al-Ghurra” land development project, following the signing of an agreement between Al-Maqr Company for Development and Development, the investment arm of the Medina Municipality, and a number of national companies, in the presence of the Regional Secretary and Chairman of the Board of Directors of Al-Maqr Company, Fahd bin Mohammed Al-Balishi, in the presence of the Regional Secretary. The agreements aim to achieve a number of objectives through the development of the land of the two projects. Read more

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