Month: September 2024

Saudi Arabia's office sector remains highly competitive amid growing corporate demand

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Administrative offices and residential real estate

Reading time: < 1 MinuteJLL, a firm specializing in real estate consulting and research, revealed that the office space sector in Saudi Arabia performed strongly in the first half of 2024, driven by government efforts to promote and attract foreign investment in the Kingdom and expand the granting of licenses for regional headquarters of major companies. The report explained that the office space sector in … Read more

Saudi Aramco and China National Building Materials Group Announce Strategic Partnership

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Reading time: 2 MinutesSaudi Aramco today signed a five-year framework cooperation agreement with China National Building Materials Group (CNBM), aimed at exploring new opportunities in the field of advanced materials and industrial development. The two parties identified a number of areas expected to be covered by the cooperation, including the potential establishment of manufacturing facilities in the Kingdom to produce wind turbine blades, … Read more

“ROSHN and the Infrastructure Projects Center sign MoU to boost project implementation in the capital

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Reading time: < 1 MinuteThe “Roshon” Group—one of the major projects of the Public Investment Fund—signed a memorandum of understanding with the “Riyadh Infrastructure Projects Center” (RIPC) with the aim of developing mechanisms for planning and implementing infrastructure projects in the city of Riyadh and the surrounding region. The signing took place under the patronage of His Highness Prince Dr. Faisal bin Ayyaf, Chairman of the Board of Directors of the Riyadh Infrastructure Projects Center and Secretary of the Riyadh Region, and was represented by … Read more

SAR 95.85 billion in assets of real estate finance and refinancing companies by the end of the second quarter

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Reading time: < 1 MinuteThe assets of mortgage finance and refinancing companies in Saudi Arabia, including those of the Saudi Mortgage Refinancing Company, saw a significant increase, reaching 95.85 billion riyals by the end of the second quarter of 2024, compared to 87.4 billion riyals during the same period last year, marking a year-over-year growth of 9.671%. According to the bank’s data … Read more

In detail... Articles of the Rest Houses Regulation after it was released on a polling platform

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Reading time: < 1 MinuteThe Ministry of Municipalities and Housing has published the “Regulations Governing Rest Areas” on the “Istislaal” platform, giving stakeholders and the public the opportunity to submit their comments and suggestions regarding the regulations. The survey is scheduled to end on October 15, 2024. The objective of the regulations, which consist of 15 articles, is to determine the competent authority for supervising and monitoring rest area activities, in addition to establishing operating models for these rest areas. It also aims to develop … Read more

Riyadh Municipality Signs 5 Contracts Worth 6 Billion Riyals to Improve Road Quality

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Building Compliance Certificate

Reading time: < 1 MinuteThe Riyadh Municipality has signed five contracts to rehabilitate and improve the quality of roads; covering the northern, southern, central, eastern, and western areas of Riyadh, representing four times the number of current contracts. This initiative aims to achieve infrastructure quality improvement targets, raise Riyadh’s global road quality index, and enhance safe mobility for residents and visitors. The contracts include rehabilitation and paving work, through the improvement of the road network, with phases extending until the year … Read more

5 Steps to Guarantee Your Success in Real Estate Investing... Learn About Them

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Reading time: 2 MinutesIn the fast-paced world of real estate investing, American investor and real estate expert Ken McElroy has provided a roadmap for those looking to enter the field and achieve success. In a recent post on his account on the platform “X” (formerly Twitter), the author of “The ABCs of Real Estate Investing” outlined five key steps that every beginner in this field should focus on to achieve success. Step … Read more

Cement, gypsum and sand prices rise, concrete falls last month

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Reading time: 3 MinutesPrices of construction materials in Saudi Arabia saw notable changes last August, with cement prices rising slightly, while prices of all types of concrete declined. These changes were reported in the Average Prices of Goods and Services Bulletin issued by the General Authority for Statistics, which provides a comprehensive overview of price movements in the construction sector during the month. Increase … Read more

Learn about the conditions and requirements of self-building for housing subsidies

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Building license via Baladi platform

Reading time: < 1 MinuteThe Real Estate Development Fund, in collaboration with the Sakani Program, offers a range of smart solutions to beneficiaries to help them build their own homes, providing a variety of options, including the “Self-Build” product, which allows beneficiaries to build a home on their own land with financial support from the program. The Self-Build product is considered a step toward promoting the concept of independence and innovation in the sector… Read more

“National Housing signs Memorandum of Understanding with Riyadh Infrastructure Projects Center

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Reading time: < 1 MinuteThe National Housing Company (NHC) signed a memorandum of understanding with the Riyadh Region Infrastructure Projects Center during the Saudi Infrastructure Summit and Exhibition currently being held in Riyadh. The company was represented at the signing by CEO Mohammed bin Saleh Al-Bati, and the Center was represented by CEO Eng. Fahd bin Sulaiman Al-Badah. The MoU aims to exchange studies and lessons learned and develop a working mechanism for infrastructure projects … Read more

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