Saudis Enraged by Housing Minister’s ‘Preachy’ Tweet

• Sunday, 6th November 2016
• by Karim Mohy

Saudi citizens heavily criticized their housing minister after a tweet in which he quoted Prophet Mohammed asking people to be generous to their neighbors, claiming he should focus on his work rather than preaching.

ZHA Design Selected for Saudi Heritage Center

• Wednesday, 2nd November 2016
• by Karim Mohy

London-based architectural firm Zaha Hadid Architects (ZHA) won the design competition for the Urban Heritage Administration Centre in Saudi Arabia last week.

Saudi Arabia Opens Real Estate Funds to Foreign Investors

• Monday, 31st October 2016
• by Karim Mohy

The Saudi Capital Market Authority on Sunday approved the final version of the new regulations for Real Estate Investment Traded Funds (REIT), granting approval to foreign investors to trade in REITs on the Tadawul.

Al Khozama Secures Funding From Saudi NCB

• Sunday, 30th October 2016
• by Karim Mohy

Saudi-based developer and property manager Al Khozama Management Company announced on Wednesday it signed a substantial funding agreement over SAR 1.3 bn with the National Commercial Bank (NCB) to finance future proj ...

Saudi Central Bank Asks Banks to Reschedule Property Loans

• Thursday, 27th October 2016
• by Karim Mohy

Saudi Arabia's central bank SAMA asked local banks to to reschedule property loans of clients affected by the recent cut in government spending.

Jabal Omar Records Highest Profit Growth in Its History

• Wednesday, 26th October 2016
• by Karim Mohy

Jabal Omar Development Company (JODC), one of the largest developers listed on the Saudi stock exchange, announced a profit of SAR 691.07 mn for 3Q 2016, according to a statement by the company last Wednesday.

Saudi Austerity Measures Dampening Home Ownership Drive -JLL

• Tuesday, 25th October 2016
• by Karim Mohy

Saudi Arabia's austerity drive is increasingly pressuring its people's ability to buy their own homes, possibly pushing down housing prices by nearly a third.

Saudi Arabia Introducing New Safety Measures for Government Projects

• Sunday, 23rd October 2016
• by Karim Mohy

Saudi Arabia has begun to implement new safety and security measures for its government implemented projects starting from last, with several implications for contractors.

Rotana Announces 5 Centro Brand Hotels in Saudi Arabia

• Monday, 17th October 2016
• by Tim Nanns

Rotana, a hotel management company, during a press conference announced it would open five hotels under the 'Centro by Rotana' brand in Saudi Arabia by the end of 2017.

Jeddah Real Estate Sector Slowing Down

• Wednesday, 12th October 2016
• by Tim Nanns

The Jeddah real estate market is slowing down, according to JLL, citing challenging economic conditions, low oil prices, and government reforms as reasons for the slowdown.