Month: April 2024

767.2 billion riyals of real estate financing from banks to companies and individuals by the end of 2023

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Saudi Central Bank

Reading time: < 1 MinuteThe latest data released by the Saudi Central Bank (SAMA) revealed that the total value of mortgage financing provided by banks to companies and individuals stood at approximately 767.2 billion riyals at the end of 2023. The data showed that mortgage financing provided by banks to companies amounted to 160 billion riyals, while mortgage financing provided to individuals reached 607.2 billion riyals, accounting for … Read more

The Pilgrims' Housing Committee in Medina will continue to accept permit applications until the end of Shawwal

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Medina

Reading time: < 1 MinuteThe Pilgrims’ Housing Committee in Madinah announced that it will continue to accept applications for pilgrims’ housing permits for the 1445 AH Hajj season. The committee urged those wishing to obtain these permits to review their applications promptly and ensure that all requirements specified in the regulations are met, noting that the deadline for issuing pilgrim housing permits is the end of the current month of Shawwal.

Real estate sector accounts for 40% of Spanish investment in Saudi Arabia

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Saudi-Spanish Forum

Reading time: < 1 Minute  His Excellency Majid bin Abdullah Al-Hogail, Minister of Municipal, Rural Affairs, and Housing, revealed that Spanish investments in the real estate sector account for 40% of the total investments between the two countries, which have exceeded $3 billion over the past ten years, noting the importance of continuing cooperation and exchanging expertise to serve this vital sector, and affirming that the Kingdom welcomes building bridges … Read more

NEOM showcases partnership and investment opportunities to 500 business leaders in Beijing and Shanghai

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Reading time: 2 MinutesNEOM organized the latest edition of its global promotional tour, “Discover NEOM,” in China, specifically in Beijing and Shanghai, attended by more than 500 business and industry leaders. The tour kicked off with an event organized by NEOM in the Chinese capital Beijing on April 15, in partnership with the China Council for the Promotion of International Trade in Beijing, followed by another event on April 17 in … Read more

Al-Haqil Attends the Launch of the Saudi-Spanish Business Forum in Madrid

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Al-Haqil Attends the Launch of the Saudi-Spanish Business Forum

Reading time: 2 MinutesHis Excellency Majid bin Abdullah Al-Hogail, Minister of Municipal, Rural Affairs, and Housing, attended the launch of the Saudi-Spanish Business Forum in Madrid yesterday, Wednesday. The forum, organized by the Council of Saudi Chambers and the Spanish Chamber of Commerce, highlighted opportunities for Saudi and the strengthening of partnerships in the fields of construction technology, smart cities, and urban planning, in the presence of the Ambassador of the Custodian of the Two Holy Mosques to the Kingdom of … Read more

Hospitality sector to attract investments worth SAR 42 billion by 2030

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Hospitality and Leisure

Reading time: 2 MinutesThe Kingdom’s hospitality sector plans to attract private investments worth 42 billion riyals ($11 billion), with estimated returns of approximately 16 billion riyals ($4 billion) to GDP by 2030, noting that the initiative will help create up to 120,000 additional jobs by 2030, in addition to its contribution to strengthening the infrastructure … Read more

Tourism Ministry reviews tourism investment potential program in Berlin

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Reading time: 2 MinutesThe Ministry of Tourism participated in the International Hospitality Investment Forum (IHIF) in Berlin as part of its ongoing efforts to highlight investment opportunities in the tourism sector, and its vigorous efforts to inform global investors attending the forum about the promising and significant opportunities available in the hospitality sector in the Kingdom of Saudi Arabia, under the Tourism Investment Enabling Program (TIEP) recently launched by the Ministry. … Read more

14.04 billion riyals in revenue for real estate companies listed on Tadawul in 2023

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Real Estate Registration - Land Registry

Reading time: < 1 MinuteThe Saudi real estate sector saw a significant jump in revenue over the past year, with real estate companies listed on the Saudi stock market “Tadawul” reported a year-over-year jump in their combined net profits of 258.31% in 2023, an increase of 2.15 billion riyals compared to the previous year’s profits. Disclosures by real estate companies in their statements on “Tadawul” revealed that profits … Read more

Dar Al-Qiyas is offering four real estate opportunities at the Danat Riyadh auction

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4 Real Estate Opportunities

Reading time: < 1 MinuteDar Al-Qiyas Auctions, under the supervision of the Enforcement and Liquidation Center (Enfaaz) and pursuant to a ruling by the Personal Status Court, announces the holding of the «Danat Riyadh» in-person auction on April 24, 2024, at 4:00 p.m. at Al-Khuzama Hall – King Khalid Road – Riyadh. The auction features four distinctive real estate properties in prime locations in the most prestigious neighborhoods east of … Read more

“National Housing announces sales of Al Fursan suburb exceeded SAR 4.2 billion within a year of its launch

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Al Fursan suburb

Reading time: < 1 MinuteThe National Housing Company announced that sales in Al-Fursan Suburb—the largest urban suburb developed by the company—have exceeded – 4.2 billion riyals in the year since its launch, with a total of 4,000 residential units sold, reflecting the high demand and interest in National Housing Company projects. The company stated that the first quarter of this year saw the sale of 1,450 residential units, with sales reaching … Read more

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