Tag Archives : vastgoed

Saudi Arabia’s economic growth in overdrive

JEDDAH – As a significant volume of new prime office space starts to enter the Riyadh market, particularly at King Abdullah Financial District (KAFD), and the overall occupancy rate starts to rise, rental rates in general have started to edge downwards and incentives have started to become more widespread, according to the latest Saudi Arabia […]

SAR4bn contracts signed to build 40,000 homes

The Ministry of Housing signed contracts worth SR4 billion on Sunday to develop eight residential districts in different parts of the Kingdom to build around 40,000 homes. Housing Minister Shuwaish Al-Duwaihi said 26 million square meters of plots would be developed in Jeddah (1/2), Madinah, Dammam (North and South), Al-Ahsa, Qatif, Tabuk and Al-Kharj under […]

Gammon Group set to build mega city in Rabigh

Gammon Group will begin work on a SR10.9 billion new mega city project in Rabigh, including an advanced hospital, a petrochemical plant and residential villas, soon after Ramadan, said Mohammed Rafik, chairman of the group. Rafik said the project would cover an area of 20 million square meters. “Our group will design, finance and build […]

Riyadh, Jeddah property sectors show strength

Residential performs best among Saudi Arabia real estate sectors, while the Kingdom’s retail and hotel developments also show strength, according to a new report by Jones Lang LaSelle (JLL). The real estate investment and advisory firm last week released its Q1, 2013 Market Overviews of the Riyadh and Jeddah real estate market report, which examines […]

Jeddah to be one of the finest cities

JEDDAH –  Governor Prince Mishal Bin Majed claimed that Jeddah will become one of the finest cities in the world in terms of performance and efficiency. “One day will come when all the citizens will get municipal services online without approaching the mayoralty in person. All officials are directly responsible with regard to serving the citizens […]

Emaar launches new residential project

Emaar Properties has unveiled its newest residential development in the city. The Hills, envisaged as part of Emirates Living, the pioneering master-planned communities by Emaar, will stand out for its spectacular Golf-course views and a focus on a greener lifestyle through several energy and water efficiency initiatives. Overlooking the Emirates Golf Club, with easy access […]

New investment to drive Bahrain Al-Areen project

Bahrain’s Al-Areen project is renewing its momentum with an upgrade of existing hospitality and leisure infrastructure, and the introduction of new facilities. Senior executives from Al-Areen Holding Company made this announcement at an investors’ seminar held at Al-Areen’s Client Relations Center. Esam Janahi, representing the owners, unveiled a partnership with US firm Avenue Ventures (AV) […]

Developers in KSA urge solution to housing crisis

Top private sector developers yesterday at Cityscape Jeddah called on the government to work with them to streamline several processes that cause delays, making it nearly impossible to develop affordable housing projects to solve the housing crisis. “Among the limits and challenges facing Saudi developers, is for example the regulations concerning the Municipality’s issuance of […]