Month: February 2024

Tomorrow. Global Smart Cities Forum kicks off with 40 countries participating in Riyadh

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Smart buildings

Reading time: 2 MinutesTomorrow, Monday, marks the start of the Kingdom’s first Global Smart Cities Forum, organized by the Saudi Data and Artificial Intelligence Authority “SDAIA,” in collaboration with the Ministry of Interior and the Ministry of Municipal, Rural Affairs, and Housing. The event will take place on February 12 and 13 at the Riyadh Arena under the theme “A Better Life,” with the participation of more than 80 speakers representing 40 countries around the world. As …, “SDAIA” seeks to … Read more

Challenges of modern construction technology

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Abdulrahman Al-Qout - Real Estate Sales - Multiple Options - Selling Residential Units

Reading time: < 1 MinuteChallenges of Modern Construction Technology by Abdulrahman bin Ali Al-Qut Modern construction technology is not necessarily ineffective; in fact, construction technologies are constantly evolving to meet the needs and pace of the markets. However, they may sometimes face certain challenges and objections. Here are some reasons why some people might view modern construction technology as ineffective: – Cost: Some may consider … Read more

February. Intense real estate activity

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Abdulaziz Al-Issa - Third Amlak Centennial - Lifting the land moratorium - Saudi Media - Vision 2030

Reading time: 2 MinutesFebruary… Intense Real Estate Activity: Abdulaziz Al-Issa notes that the second half of February is seeing a flurry of activity across various segments and economic areas of the real estate sector, as the period from the 18th to the 29th of the month is considered a prime time for those interested in learning about the latest legislative updates, company products, and various financing programs, in addition to the educational insights provided by … Read more

“Municipality and Housing” celebrates the empowerment of 19 thousand families within the development housing program in 2023

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Reading time: 3 MinutesThe Supreme Committee for Developmental Housing celebrated the achievements of the developmental housing sector and the story of integration and fruitful partnership between the Ministries of “Municipal Affairs and Housing” and “Human Resources” and “Interior,” which helped enable more than 19,000 of the most needy Saudi families to own their own homes in 2023, within integrated residential communities and suburbs across the Kingdom. The ceremony, which … Read more

The Infrastructure Fund. And the features of the future

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Hani Khashoggi - Foreign Ownership - 95th National Day

Reading time: 2 MinutesThe Infrastructure Fund… and a Glimpse into the Future: Hani Khashoggi The Vision 2030 train continues its upward journey, achieving everything the Kingdom has planned, and fulfilling every citizen’s aspiration to live in a strong nation that enjoys all the benefits of sustainability, development, and prosperity. And because the Vision relies exclusively on the scientific method as the guiding principle that lights its path, it considers every possibility to ensure the success of future plans… Read more

9.5 % Saudi Arabia's housing rents rose over the past year

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International Monetary Fund Riyadh office market

Reading time: < 1 MinuteJadwa Investment Company revealed that residential rents in the Kingdom recorded another year-over-year increase last year (2023), averaging 9.5%, compared to an average increase of 2% the previous year (2022). In a report, the company explained that the rise in rents was due to higher mortgage interest rates and increased demand from foreigners for real estate units. Jadwa predicted a rise … Read more

“Saudi Electricity Company organizes Contractor Safety Forum in Riyadh

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Saudi Electricity Company

Reading time: < 1 MinuteThe Saudi Electricity Company organized the 2024 Contractors’ Safety Forum, attended by His Excellency the Governor of the Supreme Authority for Industrial Security, Engineer Ali bin Muhammad Al-Zahrani, and Fouad Musa, Undersecretary of the Ministry of Energy for Saudization and Local Content, with the participation of a number of the company’s employees, contractors, consultants, safety experts, and project managers, at the company’s headquarters in Riyadh. Strategic Objectives of the Forum: This forum stems from the company’s strategic objectives … Read more

Public Investment Fund launches “Contractor Finance” program to boost the construction sector

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Public Investment Fund

Reading time: < 1 MinuteThe Public Investment Fund, in partnership with the National Infrastructure Fund, launched the “Contractor Financing Program,” an initiative aimed at strengthening the local construction sector by providing diverse and specialized financing solutions to construction companies, developing an effective, integrated, and transparent business environment in the sector, and offering projects designed to enhance cash flow for construction companies. This announcement came on the sidelines of the events of the … Read more

Restatex Riyadh Real Estate Exhibition kicks off on February 18

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Real Estate Exhibition - Real Estate Projects

Reading time: < 1 Minute  Riyadh has completed its preparations to host the Restatex Riyadh Real Estate Exhibition, which will take place from February 18–21, 2024, at the Riyadh International Convention and Exhibition Center, The exhibition will feature a number of decision-makers in the real estate, housing investment, and financing sectors—including banks, financing companies, and real estate developers—under the patronage of His Excellency Majid bin Abdullah Al-Hogail, Minister of Municipal, Rural Affairs, and Housing. Participating entities will include … Read more

Steps to exempt the deceased from mortgage loan installments

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Real Estate Development Fund - Mortgage Loan Installments

Reading time: < 1 MinuteThe Real Estate Development Fund has clarified that there are certain cases in which individuals are exempt from paying installments on subsidized mortgages. One such case is when the mortgage beneficiary passes away; in this instance, the exemption is granted by following these steps: First, visit the Real Estate Fund’s website. Second, click on the “E-Services” button. Third, click on the “Deceased Beneficiary Exemption” button. Fourth, submit the application and wait for approval … Read more

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