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 […]
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 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 […]
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 – 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 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 […]
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) […]
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 […]
The builder of The Shard skyscraper in London is to project manage the building of the 1,000m high Kingdom Tower in Jeddah, Saudi Arabia – the tallest building in the world. Mace, the UK consultancy and construction company, will manage the development in a joint venture with building consultant EC Harris, part of Dutch group […]
Qatar is working on a “unique” project – a township that will create an interface between Doha city and the new Hamad International Airport and enhance commercial and business activities in the country. The project, called Airport City, will come up on a 10sq km area and is targeted to be completed over a 30-year […]