Month: November 2022

Majid Al-Hogail Welcomes South Korean Minister of Land, Infrastructure, and Transport

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The visiting Korean delegation with Housing Minister Majed Al-Hogail

Reading time: < 1 MinuteHis Excellency Majid bin Abdullah Al-Hogail, Minister of Municipal, Rural Affairs, and Housing, received at the Ministry’s headquarters yesterday His Excellency Won-kyu Heo, Minister of Land, Infrastructure, and Transport of South Korea, and his accompanying delegation at the ministry’s headquarters, in the presence of the Ambassador of the Republic of South Korea to the Kingdom, Mr. Park Joon-young, and a number of senior officials from both ministries. The two sides reviewed the depth of the relationship between the two countries and its historical roots … Read more

Riyad Bank incentivizes corporate clients to invest in privatization projects

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Riyad Bank with the National Center for Privatization

Reading time: < 1 MinuteRiyad Bank announced its initiative to encourage its corporate clients to invest in privatization and partnership projects in the Kingdom of Saudi Arabia, by signing a joint cooperation agreement with the National Privatization Center, as the banking sector is considered one of the most important strategic partners in the success of privatization and partnership operations. The National Privatization Center signed a joint cooperation agreement with Riyad Bank today, with the aim of establishing a framework for cooperation … Read more

Riyadh leads the rise in residential real estate prices among the Kingdom's cities

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Rising real estate prices

Reading time: < 1 MinuteA real estate report released by Jadwa Investment confirmed that real estate prices in the Kingdom’s markets rose by 1.5% year-over-year in the third quarter of 2022, and by 0.3 % on a quarterly basis, indicating that residential real estate prices continue to drive overall prices upward, while commercial real estate prices continued to decline on a year-over-year basis. The report indicated that prices … Read more

Amlak Articles... Sami Abdulaziz writes: Managing Administrative Affairs

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Sami Abdulaziz - Real Estate Articles

Reading time: 2 MinutesAdministrative Affairs Department, Sami Abdulaziz: A healthy work environment is one of the most important factors for the success of any organization or company, and senior management must appoint a director and an appropriate number of staff whose primary responsibility is to improve the work environment and provide the necessary tools and services to help all departments of the company operate without administrative problems resulting from a lack of—or even a mere delay in the availability of—the necessary tasks and tools… Read more

The “Malak” Program Launches an Inquiry Service… and Enables the Purchase of Condominium Units

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Malak Program Enables Query Service

Reading time: < 1 MinuteThe “Malak” program has launched a service for inquiring about homeowners’ associations and their dues, which enables users to check whether a property has a homeowners’ association and what its dues are, with the aim of protecting rights and reducing disputes to enhance the sustainability and efficiency of the real estate market. This service allows prospective buyers of units in condominiums to check whether a homeowners’ association exists for the property and to find out if … Read more

 (4) Factors driving the growth of e-payments in Saudi Arabia

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E-commerce

Reading time: < 1 MinuteSpecialized financial reports have forecast growth in the Kingdom’s payments over the coming years, projecting that total revenues will reach $28.3 billion by 2031, The analytical study included in the report “Global Payments 2022: New Trends in Growth” focused on the drivers that will boost the compound annual growth rate to 11.2% between 2021 and 2031, such as revenue generated from … Read more

500 businessmen participate in Egypt's investment promotion summit

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Promoting investment opportunities in Egypt

Reading time: 2 MinutesMinisters from the Economic Group are participating in the opening ceremony of the fifth edition of the Fingerprint Summit, which is being held in Cairo under the title “The First Forum for Promoting Investment Opportunities in the Public and Private Sectors.” The summit is being held in line with President Abdel Fattah El-Sisi’s directives on the need to involve all segments of society in achieving economic integration—a goal that Egyptian civil society organizations are committed to achieving through … Read more

Real estate reports expect central London properties to fall to 12.5% next year

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Reading time: < 1 MinuteSpecialized real estate reports predict that property prices in the British capital, London, will fall by 12.5% next year, while prices across the UK as a whole are expected to fall by only 10%, according to a report released by the real estate brokerage firm Savills. London is considered a preferred destination for real estate investments from the Arab Gulf states, Russia, and China, as a large proportion of major properties … Read more

99.4 billion riyals worth of new housing finance contracts for individuals   

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Residential Real Estate - Housing Subsidies

Reading time: < 1 MinuteThe total value of residential financing contracts provided to individuals reached approximately 99.4 billion riyals from the beginning of the year through the end of last September, according to the monthly bulletin issued by the Saudi Central Bank “SAMA” revealed new growth in residential mortgage financing for individuals provided by mortgage lenders, including both banks and finance companies, with 126,356 new residential mortgage contracts issued to individuals. And … Read more

State Real Estate concludes SAR 611 million real estate deal with a logistics company

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Public Authority for State Properties - «Lease System» contracts»

Reading time: < 1 MinuteThe General Authority for State Real Estate today signed a contract with a company specializing in logistics complexes worth more than half a billion riyals, for a lease term of 25 years, Under the agreement, the company will invest more than 611 million riyals to develop 576,000 square meters of undeveloped land south of Jeddah in the Al-Mahjar area and transform it into a massive logistics complex by establishing … Read more

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