Month: March 2024

Emir of Madinah sponsors the launch of the “Madinah Real Estate” exhibition”

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Emir of Madinah inaugurates Madinah Real Estate Exhibition

Reading time: < 1 MinuteHis Royal Highness Prince Salman bin Sultan bin Abdulaziz, Governor of the Madinah Region, presided over the opening of the “Madinah Real Estate” exhibition organized by Al-Mukarrar Development and Investment Company, the investment arm of the Regional Secretariat, in the presence of His Excellency the Regional Secretary, Engineer Fahd bin Mohammed Al-Baleeshi. Upon his arrival at the company’s headquarters, His Royal Highness the Governor of the Madinah Region toured the components of the accompanying exhibition … Read more

Omran Tech Group exchanges building technology expertise with international companies

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Construction techniques

Reading time: < 1 Minute  The Omran Tech Group has signed agreements with similar companies in Turkey, Slovenia, and Serbia, with the aim of increasing mutual exchange to develop and improve production quality and advance the construction industry in the Kingdom to keep pace with the world’s most advanced construction technologies. The group explained that its efforts to develop the construction industry are intended to meet all the needs of Saudi citizens in accordance with the latest … Read more

The Governor of Riyadh Presides Over the Inauguration Ceremony of Al-Yamamah Cement Company’s New Plant

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His Highness the Governor of the Riyadh Region Presides Over the Inauguration Ceremony for Al-Yamamah Cement Company’s New Plant

Reading time: 2 MinutesHis Royal Highness Prince Faisal bin Bandar bin Abdulaziz, Governor of the Riyadh Region, today presided over the inauguration ceremony for Al-Yamamah Cement Company’s new plant, in the presence of His Excellency the Minister of Industry and Mineral Resources, Mr. Bandar bin Ibrahim Al-Khorayef. Upon His Highness’s arrival at the new plant, he was received by His Highness Prince Nayef bin Sultan bin Mohammed bin Saud, Deputy Chairman of the Board … Read more

Infographic | Six Companies Win Awards from the Ideal Housing Initiative in Industrial Cities

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Ministry of Industry and Mineral Resources - Certificate of Origin

Reading time: < 1 MinuteSix companies have won awards from the Ideal Housing Initiative in Industrial Cities and Special Economic Zones, an initiative of the Ministry of Industry and Mineral Resources under the National Program for the Development of Collective Housing for Individuals. Ideal Housing Awards: The Ministry clarified that the six winning companies include Facilities Works Co., Ltd., the operator of the Workers’ Village in Ras Al-Khair City for Mining Industries, which was honored by the Royal Commission… Read more

Infographic | Wafi licenses more than 100 thousand real estate units for sale on the map in 2023

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Off-plan sales

Reading time: 2 MinutesThe Off-Plan Sales and Leasing Committee “Wafi” made 101,942 diverse off-plan real estate units available for sale in the Saudi real estate market during the past year 2023, through 434 licenses issued for residential, industrial, commercial, service, tourism, and other projects, as part of the Committee’s efforts to boost real estate supply, provide housing units that meet the aspirations of Saudi families, and contribute to raising the homeownership rate to … Read more

Ministry of Justice Launches Unified Contracting Contract for Full Construction as an Executive Deed

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Ministry of Justice - Real Estate Exchange

Reading time: < 1 MinuteThe Ministry of Justice, in partnership with the Saudi Contractors Authority, launched the Standard Construction Contract for Turnkey Projects and designated it as an enforceable instrument, in the presence of the Deputy Minister for Judicial Affairs, Sheikh Salman Al-Fawzan, and the Secretary-General of the Saudi Contractors Authority, Abdulmajeed Al-Rashoudi. It is worth noting that His Excellency the Minister of Justice, Sheikh Dr. Walid bin Mohammed Al-Samaani, had previously directed the launch of the second phase of the Preventive Justice Initiative, which includes efforts … Read more

“Arcapita closes SAR 1.8 billion logistics fund in Saudi Arabia

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Arcapita - Logistics Fund

Reading time: 2 MinutesNew Logistics Fund: Arcapita Financial (“Arcapita Financial”), a subsidiary of Arcapita Group Holdings Limited (“Arkapita Group”), announced the successful closing of the ”Third Saudi Logistics Fund” with a value of SAR 1.8 billion (US$500 million), in partnership with one of the largest sovereign wealth funds in the Arabian Gulf region and other major investment institutions. Arcapita Financial has … Read more

53 properties worth SAR 168.6 million sold in Medina last February

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Attribution and Liquidation Center Real Estate Auction

Reading time: 2 MinutesMedina saw the sale of 53 properties through eight online auctions worth approximately 168.6 million riyals last February, according to the Enforcement and Liquidation Center (Enfaaz). Real Estate Market Recovery in Medina The center stated that Medina witnessed active movement in the real estate market last February, following the sale of 53 properties … Read more

Reinforced Concrete Improvements Enter Saudi Building Code Details

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Saudi Building Code Committee signs memorandum of understanding to develop a Saudi code for reinforced concrete

Reading time: 2 MinutesThe Saudi National Building Code Committee and the Program for the Sustainability of Oil Demand signed a memorandum of understanding aimed at strengthening cooperation and promoting the use of polymer-reinforced concrete in the construction sector, through the preparation and development of the Saudi Code for Structural Concrete Reinforced with Polymer Bars and Glass Fiber. The signing ceremony was attended by His Royal Highness Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy … Read more

Al-Haqeel witnesses the launch of Banan project in Riyadh's Al Fursan neighborhood

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Al-Haqeel witnesses the launch of Banan project in Riyadh's Al Fursan neighborhood

Reading time: < 1 MinuteHis Excellency Majid bin Abdullah Al-Hogail, Minister of Municipal, Rural Affairs, and Housing, today, the launch ceremony for the Banan project in the Al-Fursan district of Riyadh, in the presence of the CEO of the National Housing Company, Mohammed bin Saleh Al-Bati, and the Chairman of the Board of Directors of “Talaat Moustafa Group – Saudi Arabia,” Hisham Talaat Moustafa. This step comes as part of the implementation of the agreement signed between the company … Read more

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