News

Saudi Real Estate Refinance Co reduces rates for long-term fixed rate mortgages

Saudi Real Estate Refinance Company (SRC), a subsidiary of Saudi Public Investment fund (PIF), announced that it has reduced rates for its long term, fixed-rate (LTFR) mortgages offered to eligible borrowers, by its partners (banks and mortgage finance companies).

IMF sees Saudi Arabia non-oil GDP growth rising in 2019

Saudi Arabia’s economic reforms agenda has started yielding positive results for the kingdom and employment along with the non-oil growth, one of the key objectives of the economic diversification strategy, has picked up pace, the International Monetary Fund said.

Saudi non-oil sector to continue to drive economic growth in 2019

Saudi Arabia’s economy is set to grow at a stable pace of around 2% in the coming year, according to ICAEW’s latest Economic Insight report. In 2019, record budget spending and various pro-growth government initiatives will ensure faster expansion of non-oil activity, even as oil sector growth slows.

‘Four new investors per day’: Record foreign investment in Q1 of 2019 for Saudi Arabia

Four new investors have set up companies in Saudi Arabia per day in the first quarter of 2019, the Saudi Arabian General Investment Authority (SAGIA) has revealed.

Saudi real estate to witness ‘healthy correction in 2019’

Saudi Arabia’s real estate market will see a healthy correction in 2019 after prices surged in the past few years, Islam Albayaa, Head of Advisory, KPMG Al Fozan & Partners in Saudi, said in a statement.

Public-private sector collaboration to liven up Saudi real estate

Cityscape Jeddah 2019, the eighth edition of the leading international real estate exhibition in Saudi Arabia, concluded Tuesday, giving developers, investors and industry decision makers alike assurances that the Kingdom’s real estate industry is on an upward trajectory.

Ministry signs deal to develop real estate market in Saudi Arabia

The Ministry of Housing has signed an agreement with the Social Development Bank to finance entrepreneurs who want to work in real estate brokerage.

$21bn investment in housing sector expected this year

Saudi Arabia’s housing minister said on Wednesday he expects investments in the real estate financing sector to reach between SR60 billion and SR80 billion ($21.33 billion) in 2019.

Saudi Housing Ministry signs residential real estate deals worth $4.4bn on FII sidelines

The Saudi Ministry of Housing has signed three residential real estate development agreements worth $4.4 billion, the Saudi Arabian General Investment Authority (SAGIA) announced on Thursday on the sides of the Future Investment Initiative in Riyadh.

Saudi Arabia’s economic strength ‘Very High’

Moody’s Investors Service rated Saudi Arabia’s economic strength as “Very High (-)” based on its large scale, comparatively high per capita income levels and moderately strong growth dynamics.

JITF 2017 sees tremendous transactions amid big participations

JCCI Secretary-General Hassan Dahlan, inaugurated the 29th annual Jeddah International Trade at the Jeddah Centre for Forums & Events on Monday. The event runs until Thursday 23rd of November.

Jeddah to host multi-sectoral trade expo

Over 200 local and international companies will participate in the 29th Jeddah International Trade Fair (JITF), which will be held at the Jeddah Center for Forums and Events from Nov. 20-23.

Jeddah International Trade Fair 2017 attracts global companies

JCCI Secretary-General Hassan Dahlan inaugurated the 29th annual Jeddah International Trade Fair (JITF) at the Jeddah Center for Forums & Events on Monday. The event ran until Thursday.

International Trade Fair

Maroc Export is organizing Morocco’s first participation in the 2017 Jeddah International Trade Fair (JITF), to open this November 20 to 23 in Saudi Arabia. More than 20 Moroccan companies are expected to take part in the event.

Local partner condition may be scrapped to bolster FDI

New steps being taken to increase the flow of foreign investments into Saudi Arabia this year have raised the expectations of the business community.