Month: October 2023

Al-Khatib: Saudi Arabia to invest more than $800 billion in tourism

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Minister of Tourism Ahmed Al-Khatib

Reading time: < 1 MinuteHis Excellency the Minister of Tourism, Mr. Ahmed bin Aqil Al-Khatib, affirmed that the Kingdom is the fastest-growing G20 country in the tourism sector, with the number of tourists in the Kingdom reaching more than 30 million—representing 40 % of the tourism sector’s target— It is also one of the most important sectors contributing to economic growth. His Excellency stated during … Read more

Saudi Contractors Authority organizes Construction Technology Conference 2023 to explore digital applications

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Saudi Contractors Authority - Contracting Industry

Reading time: < 1 MinuteThe Saudi Contractors Authority, in collaboration with “Ventures,” organized the Construction Technology Conference in the Kingdom on October 23–24, with the participation of 50 specialized companies, 70 speakers, and more than 600 attendees. The conference was attended by numerous key government agencies, project developers, contractors, consultants, and companies specializing in construction technology, real estate technology, and urban technology, to showcase examples of applications… Read more

Riyadh tops the list. The Rental Index monitors transactions in 160 cities and governorates during September

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Rental index

Reading time: < 1 MinuteThe “Rental Index” recorded more than 294,000 residential and commercial rental transactions last September, according to reports and data released by the online rental services network “Ejar” in integration with the “Sakani” platform; The index covers more than 160 cities and provinces, encompassing most of the Kingdom’s cities and regions, with an increase of over 22% compared to September 2022. The index’s September report showed … Read more

“Real estate's role in economic growth at the Future Investment Initiative

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Roshan Real Estate Company - Residential Projects

Reading time: 2 MinutesRoshon—one of the major projects wholly owned by the Public Investment Fund—is sponsoring the seventh edition of the Future Investment Initiative (FII) Forum as a strategic partner. Roshen’s partnership with the initiative represents an opportunity to combine the new and distinctive lifestyle it offers in the Kingdom with the efforts of the global investment community to explore markets and broad prospects for economic development. As a strategic partner, Roshen will participate in presenting … Read more

Real Estate Services Real Estate Identity Real Estate Description Correction 5 requests for real estate ownership

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Reading time: 2 MinutesReal Estate ID for Modern Real Estate Title Deeds: The Real Estate ID is assigned to modern real estate title deeds, ensuring that there is no duplication of title deeds and no overlap in ownership, as it is issued for each property individually. The Ministry of Municipal and Rural Affairs is responsible for issuing the ID, and this is notarized by the Ministry of Justice. The aim is to streamline a number of procedures, expedite the approval of plans, and ensure the accuracy, integrity, and transparency of information… Read more

120 billion dollars in Future Investment Initiative investments in 7 years

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Richard Attias, CEO of the Future Investment Initiative Foundation

Reading time: 2 MinutesRichard Atias, CEO of the Future Investment Initiative (FII), revealed that the total value of investments made through agreements, contracts, and deals during the Future Investment Initiative over the past seven years amounted to approximately 120 billion U.S. dollars. He made this statement in an interview with the Saudi Press Agency ahead of the seventh edition of the Future Investment Initiative (FII7), scheduled to take place in Riyadh from … Read more

The seventh edition of the Future Investment Initiative kicks off with 6,000 participants from 90 countries

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Future Investment Initiative

Reading time: 3 MinutesThe seventh session of the Future Investment Initiative began today at the King Abdulaziz Conference Center in Riyadh, under the title “The New Compass,” with the participation of nearly 6,000 attendees from more than 90 countries and 500 speakers from various sectors both within and outside the Kingdom. The event will continue for three days. At the start of the conference, Richard Atias, CEO of the Future Investment Initiative Foundation, welcomed the attendees… Read more

959 million riyals deposited in the accounts of “Residential” beneficiaries for the month of October

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October Housing Subsidy

Reading time: < 1 MinuteThe Real Estate Development Fund announced today that it has deposited 959 million riyals into the accounts of “Sakani” beneficiaries from the Ministry of Municipal, Rural Affairs, and Housing and the ”Real Estate Fund” for the month of October 2023, as part of its ongoing efforts to support beneficiaries, and to achieve the objectives of the housing program, one of the programs under the Kingdom’s Vision 2030. Mansour bin Madi, CEO of the Real Estate Fund, explained that the total support for October amounted to 959 million … Read more

survey: In the real estate market. «Brokers» defy the recession

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Real Estate Market Survey Real Estate Brokers

Reading time: 2 MinutesIn the Real Estate Market… «Brokers» Defy the Slump Survey: Abdullah Al-Salih Real estate brokers are facing a number of challenges in attracting clients and closing deals during the current period, due to several factors, most notably the ongoing slowdown in the residential sector, which continues to be adversely affected by rising interest rates that have reached their highest levels in more than two decades. The real estate newspaper «Amlak» conducted … Read more

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