Latest News for: Estate saudi


Saudi Arabia to allow foreigners to purchase property

The Siasat Daily 30 Mar 2023
The authority in the Kingdom of Saudi Arabia (KSA) has revealed that foreigners will be allowed to purchase property anywhere in the Kingdom, local media reported. The Kingdom’s Real Estate General Authority chief Abdullah Alhammad said that it is in the final stages of establishing a new system for foreign ownership of real estate ... Saudi ... Saudi.

Cobra, Nesma and Vision Invest in race for Rayis IWTP project

Gulf Daily News 30 Mar 2023
Saudi Water Partnership Company (SWPC) has announced that it has received bids from three major developer consortiums for the Rayis-Rabigh Independent Water Transmission Pipeline (IWTP) project, which on completion, will boast a 500,000-cu-m-per-day transmission capacity.

Gulf markets gain on steady oil, receding bank fears

Reuters 30 Mar 2023
Saudi Arabia's benchmark stock index (.TASI) rose 0.7%, with luxury real estate developer Retal Urban Development Company (4322.SE) adding 0.7% and Al Rajhi Bank (1120.SE), Saudi Arabia's second-largest lender by assets, edging up 0.8% ... real estate and utilities stocks.

Closing bell: Saudi bourses edge up 

Arab News 30 Mar 2023
RIYADH. Saudi Arabia’s Tadawul All Share Index rose for the sixth session in a row on Thursday, up by 86.92 points – or 0.83 percent – to 10,590.10, driven by favorable market conditions ... On the announcements front, Saudi Real Estate Co., posted a net profit of SR110.5 million in 2022, almost double the earnings of SR 54.9 million in 2021 ... ....

New Saudi law to set off region’s next freehold boom

Khaleejtimes 29 Mar 2023
The new law, which has been eagerly awaited by the global investor community, is under review and will allow non-Saudi nationals to own property in all parts of the kingdom, including Makkah and Madinah, according to Abdullah Alhammad, CEO of the Real Estate General Authority (Rega).

Alistithmar Capital, Safa Investment to Launch Real Estate Funds in Saudi Arabia

MENA FN 29 Mar 2023
(MENAFN) Alistithmar Capital, the investment arm of Saudi Investment Bank, has signed an agreement with Safa Investment Co. to launch several real estate funds in Saudi Arabia. The first fund is ... .

Alistithmar Capital inks agreement with Safa Investment Co. to launch $292.9m real estate fund 

Arab News 28 Mar 2023
Saudi Arabia’s real estate sector is witnessing massive traction and development with a huge increase in property values. Real estate prices in Saudi Arabia increased by 1.6 percent in the fourth quarter of 2022, compared to the same period in 2021, primarily driven by a rise in residential property values.

Saudi Arabia could allow foreigners to buy property in Mecca

The New Arab 28 Mar 2023
Foreigners will soon be able to own property of all kinds across Saudi Arabia, the head of the country's real estate authority has said - potentially even in the Muslim holy cities of Mecca and Medina. Non-Saudis would be able to purchase agricultural, commercial, and residential ...

‘Digitizing the Customer Experience in the Saudi Real Estate Sector’ challenge winners revealed

Arab News 28 Mar 2023
The winning projects in a “Digitizing the Customer Experience in the Real Estate Sector” challenge set by Saudi Arabia’s General Authority for Small and Medium Enterprises Authority, also known as Monsha’at, have been chosen ... It was one of a series of challenges designed to encourage innovative solutions in the real estate sector.

New law allowing foreigners to buy all kind of properties in KSA soon: Top official

Arab News 27 Mar 2023
Saudi Arabia is planning to relax its property ownership laws for foreigners as the Kingdom eyes attracting investments into the real estate sector as part of its strategy to diversify its economy ... Saudi Arabia’s Real Estate General Authority acknowledged that real estate prices in Saudi Arabia are high on a supply-demand imbalance.

Saudi banks’ income surges 28% to $17bn in 2022: Alvarez & Marsal analysis  

Arab News 27 Mar 2023
Amid fears of a global banking crisis, Saudi lenders are expected to maintain profitability in 2023 with continued credit growth as the Kingdom’s top banks reported an aggregate net profit of 28.4 percent in 2022, revealed an analysis done by the global professional services firm Alvarez & Marsal.

Saudi real estate fund deposits USD246M into Sakani program beneficiaries' accounts

MENA FN 27 Mar 2023
(MENAFN) Saudi Arabia's Real Estate Development Fund (REDF) recently deposited over SR925 million ($246.2 million) into the accounts of beneficiaries of the Sakani program in March 2023. The Sakani ... .

Startup Wrap: Saudi leads the way in flurry of regional activity in startups ecosystem

Arab News 26 Mar 2023
Saudi-based fintech giant Tamara raised $150 million in debt financing from global investment banking company Goldman Sachs ... Also, Bahrain-based proptech Estater raised $5 million in a series A funding round led by undisclosed investors from Saudi Arabia and Bahrain to accelerate product development and boost technology infrastructure.

Saudi REDF deposits over $246m in Sakani accounts for housing projects  

Arab News 26 Mar 2023
RIYADH. Saudi Arabia’s Real Estate Development Fund deposited more than SR925 million ($246.2 million) in the accounts of Sakani beneficiaries in March 2023 ... He also said that the total fund for the current month of March was allocated to support the profits of various housing contracts ... ....

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