Month: June 2024

Medina Municipality offers an investment opportunity for a commercial entertainment project

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Medina Municipality - Commercial Project

Reading time: < 1 MinuteThe Medina Municipality has offered an investment opportunity to establish, operate and maintain a commercial entertainment project in the Awwaina neighborhood of Medina. The project aims to attract investors, develop the entertainment sector and meet consumer needs, indicating that the project is located on an area of 9546.76 square meters and includes 79 parking lots. The Municipality called on investors wishing to take advantage of the opportunity ... Read more

Eastern Municipality renews its call for owners of targeted buildings to issue a certificate of compliance

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Eastern Province Municipality - Residential Plans

Reading time: < 1 MinuteThe Eastern Province Municipality renewed its invitation to the owners of buildings located within the targeted roads and streets, to issue a certificate of building compliance, after correcting their situation quickly, which ensures that their buildings are treated and free of visual distortion elements to provide a healthy and sustainable urban environment, improve the urban scene, and improve the quality of life in various areas and neighborhoods in the region. The Eastern Municipality explained that the updated guide to the procedures for issuing ... Read more

Real estate transactions in Saudi Arabia record 68.3 billion riyals in the first 3 weeks of June

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Reading time: < 1 MinuteSaudi Arabia witnessed real estate transactions worth 86.3 billion riyals in three weeks during the period from June 1 to 21, including 24.6 thousand properties, through 26 thousand transactions, according to data from the Real Estate Exchange. The real estate exchange data also showed that the traded area of real estate in the Kingdom during the same period amounted to about 146 million ... Read more

A boom in the construction sector 141.5 billion dollars in construction contracts in Saudi Arabia

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Private Sector - Saudi Economy - Construction Contracts in Saudi Arabia

Reading time: 3 MinutesGlobal real estate consultancy Knight Frank has revealed that since the launch of Saudi Arabia's National Transformation Plan (NTP) in 2016, project budgets and construction contracts in the Kingdom have exceeded USD 1.25 trillion, Construction Business News reported. The firm emphasized that Saudi Arabia is witnessing a major boom in construction activities, with the value of ... Read more

stc allows subscribers to pay electricity bills by redeeming Qitaf points

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Reading time: < 1 MinuteSaudi Electricity Company (SEC) has announced the availability of the option to pay electricity bills by redeeming Qitaf points from stc. This service comes out of the company's keenness to develop its customers' experiences and meet their aspirations by providing additional options and facilities using the latest technologies and digital solutions, and complementing the services launched by the company with a group of Saudi banks to provide multiple payment options ... Read more

Emiratization of real estate activities and professions goes into effect

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Riyadh - Business - Localization of real estate activities and professions

Reading time: < 1 MinuteThe Ministry of Human Resources and Social Development began implementing the localization of real estate activities and professions starting yesterday, after the expiration of the specified period, in order to provide new job opportunities for citizens in various regions of the Kingdom and raise their participation in the labor market in accordance with the goals of «Saudi Vision 2030.» The Ministry of Human Resources and Social Development has decided to limit the work of Saudis to a percentage of Saudis. The decision to localize real estate activities and professions included restricting work to Saudis by a percentage ... Read more

Qassim Municipality offers investment opportunity to renovate Unaiza Trade and Business Center

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Municipality of Qassim

Reading time: < 1 MinuteQassim Municipality, represented by the municipality of Unaiza Governorate, announced the launch of an investment opportunity to restore, operate and invest for 25 years in Unaiza Trade and Business Center in the governorate, through the Saudi Cities Investment Portal “Opportunities” as part of the municipality's investment development plan for 2024, and the investment opportunity is located on an area of 5,190 m2. The investment opportunity is located on an area of 5,190 m2. Read more

Real Estate Fund: 989 million riyals deposited in the accounts of “Residential” beneficiaries for the month of June

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Real Estate Development Fund - Housing Subsidies

Reading time: < 1 MinuteThe Real Estate Development Fund (REF) announced today the deposit of 989 million riyals in the accounts of “Residential” beneficiaries from the Ministry of Municipal and Rural Affairs and Housing and the Real Estate Fund for the month of June 2024. The CEO of the Real Estate Fund, Mansour bin Madi, explained that the total June support of SAR 989 million was allocated to support the profits of the contracts of the various housing support programs. He added that the total amount deposited ... Read more

Amended Surveillance Law approves the formation of monitoring committees for finance companies

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Reading time: 4 MinutesThe amended Finance Company Control Law approved the formation of an audit committee from non-executive board members, and the amendments indicated that its tasks, the rules for selecting its members, the duration of their membership, and how they work will be issued by a decision of the company's general assembly based on a proposal from the board of directors: 1- Amending the definition of ”Finance Company“ in Article (I) of the ... Read more

Real estate prices in Germany continue to fall during the first quarter of 2024

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Germany's housing crisis

Reading time: < 1 MinuteHouse and apartment prices in Germany continued their downward trend in the first quarter of 2024. According to the Federal Statistical Office in Wiesbaden, residential real estate prices fell in the first quarter of this year by an average of 51.7TP3T year-on-year and by 1.1% compared to the fourth quarter of 2023. This is the sixth consecutive quarter in which ... Read more

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