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REAL ESTATE

17,059 Sakani housing plots allotted last month
October 17, 2019

RIYADH — The Sakani housing scheme of the Ministry of Housing continues handing over plots of land free of cost to the beneficiaries. A total of 17,059 plots were allotted to the beneficiaries in preparation for the start of construction of homes in various regions of the Kingdom during the last month, according to a Sakani scheme statement.

The allotment of the plots of land included 2,738 for the eligible citizens in the Makkah region; 2,208"...

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Saudi Build ends on successful note, draws 23,000 visitors
October 17, 2019

The 31st edition of Saudi Build Exhibition ended on a successful note drawing more than 520 major international and local brands from around 34 countries besides 23,000 visitors during the four-day event.

Concurrently held with Saudi Stone Tech, Saudi Build PMV Series, Interior Design and Saudi Build Technology & Automation Building, Saudi Build 2019 ran from October 7 to 9 at Riyadh International Convention and Exhibition Centre.

Saudi"...

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BTSI expected to dominate 50% of Saudi construction sector
October 16, 2019

Saudi Arabia’s Housing Ministry’s Building Technology Stimulus Initiative (BTSI) is expected to dominate about 50% of the country’s construction sector within the next five years, Muhab Benten, director general of the BTSI, said.

Benten expects a 20% decline in building costs which are supported by $3.4bn subsidies provided by the government to support the private sector.

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Sagia grants investment licences to Russian construction firms
October 16, 2019

The Saudi Arabian General Investment Authority (Sagia) has granted four investment licences to Russian companies operating in the construction and real estate development, administrative consultancy and information technology sectors.

The licences were handed to Kontakt, and Geopulsar – from the world of construction and engineering, P Group Saudi Arabia (Computer programming) and RS Investment Advisor (consultancy), said a statement from Sagia....

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Saudi Build Exhibition 2019 ends on a high note
October 14, 2019

RIYADH — Riyadh Exhibitions Co. Ltd. had recently concluded the 31st edition of “Saudi Build Exhibition 2019” at Riyadh International Convention and Exhibition Center. The exhibition was attended by more than 23,000 visitors, with the participation of 520 major international and local brands from 34 countries.

Concurrently held with Saudi Stone Tech, Saudi Build PMV Series, Interior Design and Saudi Build Technology & Automation"...

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Saudi Arabia's Bonyan Reit raises 1.2bn riyals through Sharia-compliant loans
October 14, 2019

Bonyan Reit, a real estate investment trust managed by Riyadh-based Saudi Fransi Capital, raised 1.2 billion Saudi riyals (Dh1.18bn) as it looks to expand its property portfolio in the kingdom.

Bonyan has already signed two separate agreements with Riyad Bank and Arab National Bank for the Shariah-compliant loan facilities, Saudi Fransi Capital said in a bourse filing to the Tadawul stock"...

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BIZCENTER USA Launches Coworking Facility in Orlando With Plans for Nationwide Franchise
October 14, 2019

Multimedia, Inc. (www.multimediausa.com) starts today the operations of BIZCENTER USA LLC, its affiliate for shared workspaces and virtual offices. Located on a fully owned 4,400 sq. ft. area in one of the most strategic regions of Orlando, Florida, BIZCENTER USA is offering brand-new state of the art executive suites in a facility with upscale conference rooms, reception, luxury lounge, and kitchen. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191013005018/en/ Founded in Orlando in 1991, Multimedia is a leading marketing and communications company, highly recognized worldwide for its professional integrity, serving advertising agencies, direct clients and media outlets across all continents. According to Fernando Mariano, president of both companies, the creation of BIZCENTER USA fulfills the needs for a stylish shared workspace and virtual office facility in Southwest Orlando. “Multimedia......

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Affordability and high rental returns attract investors to UAE properties
October 13, 2019

Industry experts believe that increasing affordability and high rental returns have been wooing more local and foreign investors to the UAE property market for quite some time.

“Dubai and Abu Dhabi offer rental yields more than double of what is offered by established countries across the world,” Kalpesh Kinariwala, the Founder and Chairman of Pantheon Group, pointed out.

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Construction costs remain stable as Saudi property sector grows
October 9, 2019

The Saudi Arabian construction industry is set grow exponentially from 2020 onwards, spurred by increased government spending and a growing population.

State-backed giga-projects, such as the billion-dollar Neom City, Qiddiya Entertainment City and the expansive Red Sea Project, are set to drive construction demand, said an industry report from property and construction firm Colliers International.

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Riyadh governor inaugurates Saudi Build exhibition
October 8, 2019

RIYADH: Riyadh Gov. Prince Faisal bin Bandar inaugurated Saudi Build 2019 at the Riyadh International Convention & Exhibition Center on Monday.

The construction exhibition — which takes place on Oct. 7-10 — will provide opportunities for investors who are eager to enter the Saudi market.

Mohammed"...

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