Month: November 2023

Establishments: 1.27 million SMEs in the Kingdom, up 3.5% from the second quarter

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Franchising - Facilities

Reading time: 2 MinutesThe General Authority for Small and Medium Enterprises (Monsha'at) released the “Monsha'at Observatory” report for the third quarter of 2023, which revealed an increase in the number of small and medium enterprises in the Kingdom, reaching 3.51% compared to the second quarter of this year, reaching 1.27 million enterprises, most of which are concentrated in the capital, Riyadh, at 43.31%, followed by the Makkah region at 18.31%. The Observatory, which released … Read more

World Bank: Non-oil sectors continue to grow in Saudi Arabia

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Private Sector - Saudi Economy - Construction Contracts in Saudi Arabia

Reading time: 2 MinutesThe latest issue of the World Bank report, titled “Structural Reforms and Social Norm Shifts to Increase Women’s Labor Force Participation,” the latest economic developments in the Gulf Cooperation Council (GCC) countries, indicating that economic diversification efforts in the GCC region are beginning to bear fruit, though further reforms are still needed. The number of private sector employees is rising… Read more

The Future of Architecture and Urbanism Forum in Jeddah reviews city development experiences

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Jeddah Governor inspects the Future of Architecture and Urbanism Forum

Reading time: < 1 MinuteHis Highness Prince Saud bin Abdullah bin Jalawi, Governor of Jeddah, yesterday inaugurated the forum “The Future of Architecture and Urban Planning: Enhancing Quality of Life,” organized by the Saudi Society for Urban Sciences, in the presence of Dr. Ghazi Al-Abbasi, President of the Saudi Society for Urban Sciences, the forum’s CEO and head of the Jeddah branch of the Saudi Society for Urban Sciences, Engineer Anas Sirafi, and a number of representatives from the Architects Authority and Union, … Read more

4 trillion riyals targeted investments in real estate development in Saudi Arabia in 10 years

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Public Investment Fund

Reading time: < 1 MinuteAhmed Al-Shangiti, Head of the National Development Program at the Public Investment Fund, revealed that the Fund and its subsidiaries aim to invest approximately 4 trillion riyals in the Kingdom’s real estate development sector over the next ten years. In a speech delivered during his participation in the Northern Border Investment Forum, Al-Shankiti said that one of the most important real estate development projects is the Downtown project… Read more

Al-Fadhli: Investment portfolio exceeds two billion riyals for “environment” projects in the northern borders

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Minister of Environment, Water and Agriculture Engineer Abdulrahman bin Abdulmohsen Al-Fadhli

Reading time: 2 MinutesHis Excellency the Minister of Environment, Water, and Agriculture, Engineer Abdulrahman bin Abdulmohsen Al-Fadli, confirmed that the value of water projects in the Kingdom over the past eight years exceeds 150 billion riyals, including environmental and development projects launched in the Northern Border Region amounting to approximately 2 billion riyals. He made these remarks during his participation in the ministerial session at the Northern Border Investment Forum 2023 … Read more

53.9 billion riyals total support for the residential program since its launch in June 2017

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Real Estate Development Fund

Reading time: < 1 MinuteThe Real Estate Development Fund announced today that it has deposited 970 million riyals into the accounts of beneficiaries of the “Sakani” program from the Ministry of Municipal, Rural Affairs and Housing and the ”Real Estate Fund” for the month of November 2023, as part of efforts to improve beneficiaries’ ability to afford suitable housing, in line with the objectives of the Housing Program, one of the Kingdom’s 2030 initiatives. The Fund’s CEO, Mansour bin Madi, explained that the total support for the month … Read more

Municipality of the Holy Capital calls on owners to issue building compliance certificates

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Al Nakaseh neighborhood in Makkah - Real Estate

Reading time: < 1 MinuteThe Holy Capital Secretariat has called on owners of residential and commercial buildings in the Holy Capital to obtain a building compliance certificate in accordance with the guidelines recently issued by the Ministry of Municipal, Rural Affairs, and Housing. Addressing visual distortions, the Secretariat emphasized the necessity of issuing the certificate before the end of the grace period, as part of its ongoing efforts to improve the urban landscape, remove all elements of visual distortion, and raise the quality of life in various areas … Read more

Steps to inquire about housing subsidies and new disbursement dates

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Real Estate Marketing - Lana Al-Shabaneh - The Line

Reading time: < 1 MinuteSteps to Check Housing Subsidies and New Payment Dates: Log in to the Sakani online platform. A new window will open with several options. Select the Services icon at the top of the window. Click on the Check Eligibility Status icon. Log in to the platform by entering your National ID number or Residence ID number along with your password. Enter the CAPTCHA code displayed in front of you … Read more

300,000 housing units expected to be built in Saudi Arabia by 2025

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Abdulrahman Al-Tawil, Undersecretary of the Ministry of Municipal and Rural Affairs and Housing

Reading time: < 1 MinuteAbdulrahman Al-Tawil, Deputy Minister of Municipal, Rural Affairs, and Housing, predicted that 300,000 housing units would be built in Saudi Arabia by the end of 2025, noting that the ministry has already completed approximately 50,000 housing units. In remarks to Al-Sharq News Channel, Al-Tawil said that the Kingdom is working through companies affiliated with ministries, as well as the private sector, to increase the number of units … Read more

970 million riyals deposited in the accounts of beneficiaries of the residential program for the month of November

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Residential Real Estate - Housing Subsidies

Reading time: < 1 MinuteThe Real Estate Development Fund announced today that it has deposited 970 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 November 2023. Earlier, the official ‘Beneficiary Care’ account on Twitter had clarified that work is still underway to deposit housing subsidy amounts for beneficiaries, and that the housing subsidy will be deposited into the account … Read more

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