Reading time: < 1 MinuteThe Emirate of Makkah said that the main committee for monitoring state properties and removing encroachments in the Emirate of Makkah has been able to recover government lands. The Emirate explained on its official Twitter account that the land areas recovered by the committee exceeded 121 million square meters.
Reading time: 2 MinutesThe Public Investment Fund (PIF) today announced the establishment of Al Balad Development Company, the master developer of Jeddah's historic district, Al Balad. This comes as part of the ongoing efforts led by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Prime Minister, to develop the historic area of Jeddah to make it an economic center and a global cultural and heritage destination based on the legacy of ... Read more
Reading time: < 1 MinuteThe National Housing Company (NHC) has signed a SAR 665 million infrastructure development contract with Saad Saeed Al Saadi & Sons Contracting and Maintenance Company for the second phase of Al Fursan suburb. The company explained in a statement that the signing of the contract comes as part of the company's plans and strategies to accelerate the pace of completion in Al Fursan suburb, which includes the launch of infrastructure ... Read more
Reading time: < 1 MinuteData released by the Saudi Central Bank showed that the volume of housing finance provided to individuals by banks amounted to 7.14 billion riyals during August 2023, a decrease of 44% compared to the same period in 2022. The financing provided for residential villas accounted for the largest share of the total financing provided by banks during last August with a value of 4.97 billion riyals ... Read more
Reading time: 2 MinutesROSHN Group, a project of the Public Investment Fund (PIF), has announced the launch of sales for the third phase of its Sidra project, which will add 3,438 residential units to the 1,904 units offered for sale in the initial tranche of sales. ROSHN Group CEO David Grover said: “We are keen to develop concepts that reflect quality of life standards in line with ... Read more
Reading time: < 1 MinuteThe Board of Directors of the Real Estate Development Fund approved the addition of new products to the Tatweer program, which aims to support and enable real estate development companies and institutions to obtain the necessary financing from financial institutions to enable them to increase the real estate supply of housing units at competitive prices, which contributes to the speedy ownership of citizens of the appropriate housing to achieve the objectives of the housing program - ... Read more
Reading time: < 1 MinuteBasma Real Estate Management Company announced that a group of residential apartments of various sizes in the “Gardenia Residence” project will be offered for sale by electronic auction starting from 18/10/2023. The project includes a total of 211 residential units of various sizes and designs, where the apartments vary in multiple spaces, divided into 3-room apartments and 4-room apartments, in addition to penthouse units. The complexes are characterized by the availability of parking ... Read more
Reading time: < 1 MinuteThe Saudi Central Bank (SAMA) revealed that the value of new residential real estate financing increased by about 1.72 billion riyals and by 32% in August compared to July 2023. According to data issued by the central bank, the volume of new residential real estate financing provided to individuals by banks decreased to 7.14 billion riyals during August 2023, a decrease of 44% compared to the same period of ... Read more
Reading time: < 1 MinuteHis Excellency the Minister of Municipal and Rural Affairs and Housing and Chairman of the Board of Directors of the Real Estate Development Fund, Mr. Majid bin Abdullah Al-Hogail, presided over the fifth meeting of the Board of Directors of the Real Estate Development Fund for the current year at the Fund's headquarters in Riyadh. The board discussed a number of topics on its agenda, reviewing the most important achievements during the first half of 2023 from the targets ... Read more
Reading time: < 1 MinuteThe Ministry of Industry and Mineral Resources issued 136 new industrial licenses during August 2023, distributed among a number of industrial activities, led by the activity of manufacturing food products with 29 licenses, the activity of manufacturing other non-metallic minerals with 21 licenses, the activity of manufacturing rubber and plastics products with 15 licenses, the activity of manufacturing paper and its products with 12 licenses, and the activity of manufacturing formed metal products with ... Read more
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