Real Estate & Property Investment News in Saudi Arabia from Propertyshowrooms.com

KSA: Al-Ula airport to be ready next year, says official

Fri, 16 Jan 2009 00:00:00 GMT

Work on a new airport in Al-Ula, located close to the world famous historical site Madain Saleh, is progressing well and will be completed next year, according to Hani Jamalullail, director of engineering at the General Authority of Civil Aviation (GACA)...

Al Khabeer Inks SR400M MoU For Jazan Economic City

Mon, 12 Jan 2009 00:00:00 GMT

Al-Khabeer Merchant Finance Corporation Al-Khabeer, a leading provider of a full range of Shari'a-compliant financial products and services in Saudi Arabia, has announced that it has signed a MoU with Jazan Development Co. involving the allocation of SR 400 million for real estate investments within Jazan Economic City...

Makkah, Madinah real estate sector buoyant amid global financial crisis

Fri, 2 Jan 2009 00:00:00 GMT

Global Islamic real estate consultancy Alpha1Estates International said on January 1 and in the new Islamic new year of 1430 that property investment in the Holy Cities of Makkah and Madinah next year will continue to boom, despite the global financial crisis hitting most real estate markets around the world...

Transport Ministry identifies rail track locations in Jeddah

Mon, 22 Dec 2008 00:00:00 GMT

In order to minimize loss or inconvenience to local citizens and private property owners, the railway will pass through public properties and unused spaces as much as possible...

Fall in Construction Material Prices Hit Saudi Traders

Mon, 22 Dec 2008 00:00:00 GMT

The recent financial crisis has put a definite strain on the global economy and has led to a sharp decrease in prices of construction materials in the Kingdom...

SR100 million infrastructure completed for Al Rawda Development

Tue, 25 Nov 2008 00:00:00 GMT

Rikaz Properties, a regional leader in real estate development, has announced the completion of whole infrastructure works for the Al Rawda Development in Al Jubail, and has confirmed that all the legal requirements for the project, as set forth by the Saudi government, have been met...

Work on new terminals at Jeddah airport next month

Wed, 12 Nov 2008 00:00:00 GMT

The General Authority for Civil Aviation (GACA) has set the month of Muharram, which begins on Dec. 29, as the date for laying the foundations of new terminals at the King Abdul Aziz International Airport ...

Historic area of Jeddah to be developed

Mon, 10 Nov 2008 00:00:00 GMT

An historic part of Jeddah in Saudi Arabia is to have a $932 million makeover as part of wider plans to attract more investment and visitors and protect important architecture...

More Flights Planned Between Oman and Saudi

Wed, 5 Nov 2008 00:00:00 GMT

Oman and Saudi Arabia have reached a new civil aviation agreement under which national carriers of the two GCC member states can operate more flights to each other's country...

Saudi Govt To Construct Highways For 12 Indus Cities - Report

Mon, 22 Sep 2008 00:00:00 GMT

The Saudi Organization for Industrial Estates and Technology Zones, or Soietz, plans to construct highways for 12 industrial cities in the country...

Haj housing problem may worsen

Thu, 11 Sep 2008 00:00:00 GMT

The problem of housing pilgrims during this year's Haj is bound to become aggravated if some of the conditions governing the licensing process are not softened or relaxed, experts in Haj housing have warned...

Locals in Jeddah rally to stop forced land sales

Tue, 2 Sep 2008 00:00:00 GMT

The residents of Jeddah's Al-Nuzlah district have created a Web forum to voice their complaints to higher authorities. They are concerned about a series of new development projects valued at SR25 million for which many will be forced to sell their properties for what they claim is inadequate compensation...

Ericsson to Build, Operate Network for 'Smart City'

Thu, 28 Aug 2008 00:00:00 GMT

Emaar, The Economic City, the Tadawul-listed company developing King Abdullah Economic City, has awarded a SR320 million ($85 million) strategic agreement to Ericsson to implement and operate the smart city infrastructure, "The Smart City." ...

Morgan Stanley has signed first equity swap agreement in Saudi Arabia

Tue, 26 Aug 2008 00:00:00 GMT

(Arabic) Morgan Stanley is the first investment bank, to complete a swap transaction in the Saudi kingdom...

Shuaa closes first tranche of Saudi fund

Tue, 26 Aug 2008 00:00:00 GMT

Shuaa Capital Saudi Arabia has closed the first tranche of its Shuaa Saudi Hospitality Fund I with 900 million Saudi riyals ($240m) of commitments from regional, institutional and individual investors, it said in a statement yesterday. The closed-end fund plans to develop and own 17 hotel...

SHUAA Saudi Hospitality Fund attracts SR900 million at first closing

Mon, 25 Aug 2008 00:00:00 GMT

SHUAA Capital Saudi Arabia cjsc, announced the successful first closing of its 'SHUAA Saudi Hospitality Fund I', a Shari'a compliant closed-end fund which aims to develop and own seventeen hotel properties, furnished apartments, and resorts across the Kingdom of Saudi Arabia comprising 5,000 rooms...

Saudi market begins to recover

Tue, 19 Aug 2008 00:00:00 GMT

Saudi Arabia's bourse, the largest in the Middle East, has started to recover slowly following a slump over the past few weeks because of new disclosure moves and a sharp decline in oil prices, according to dealers...

'Sama Airlines' launches new routes

Mon, 18 Aug 2008 00:00:00 GMT

Sama Airlines, the newest low-fares airline in Saudi Arabia, announced that launch of two new international routes between Riyadh-Asiut and Dammam-Beirut, starting from 1st of September 2008...

Astra Industrial Group is listed within industrial investments sector

Mon, 18 Aug 2008 00:00:00 GMT

(Arabic) Saudi Astra Group is listed on Tadawul and has started trading today...

Air Arabia bags Best Low-Cost Airline award

Mon, 18 Aug 2008 00:00:00 GMT

Air Arabia, the first and largest low-cost carrier in the Middle East and North Africa, has won the 2008 World Airline Award for "Best Low-Cost Airline in the Middle East" for the second consecutive year.

Gulf construction to top SR1.2 trillion

Mon, 18 Aug 2008 00:00:00 GMT

JEDDAH: Despite the petrodollar windfall Saudi Arabia and the Gulf Cooperation Council (GCC) have been raking in as a result of the increase in oil prices over the last few months, new research suggests that there is an even bigger investment to be made in the region. According to DMG World Media Dubai, organizers of The Big 5, the region's largest construction industry trade show...

Value of New Projects in Saudi Arabia to Reach $410b

Thu, 14 Aug 2008 00:00:00 GMT

Total real estate investments in Saudi Arabia, which represents the largest construction market in the Middle East, are estimated at $270 billion and the total value of new projects is likely to reach $410 billion this year...

Real-estate Scam To End After Ramadan In KSA

Thu, 14 Aug 2008 00:00:00 GMT

After five years of court battles the largest and the most complex project in the Middle East, Al-Bundkia or Island of Venice, will be ended after Ramadan...

Saudi to allow Morgan Stanley to set up fund

Tue, 12 Aug 2008 00:00:00 GMT

Morgan Stanley will be allowed to set up a fund to invest in Saudi equities, Saudi Arabia's stock market regulator said yesterday, in a move that could attract more foreign investors' to the largest Arab bourse...

New SR120m plan for Jeddah roads

Tue, 5 Aug 2008 00:00:00 GMT

A new construction project to fix Jeddah's main roads costing SR120 million has been announced by the Ministry of Transportation...

Al Rajhi Buys Stake In Core Construction

Tue, 5 Aug 2008 00:00:00 GMT

Al Rajhi Investment Group (Arig), a leading diversified business group located in Saudi Arabia with business interests throughout the region, is acquiring a majority in the UAE-based Core Construction Company...

EFS opens Dh100m unit in Riyadh

Tue, 5 Aug 2008 00:00:00 GMT

Emaar Financial Services (EFS), whose shareholders include developer Emaar Properties, said yesterday it would start a financial services firm in Saudi Arabia as part of a regional expansion plan. Emaar Saudi Financial Services would have capital of Dh100 million and start operations after...

Emaar Financial plans Saudi unit

Mon, 4 Aug 2008 00:00:00 GMT

Emaar Financial Services, whose shareholders include developer Emaar Properties, said on Monday it would start a financial services firm in Saudi Arabia as part of a regional expansion plan. Emaar Saudi Financial Services would have capital of Dh100 million ($27.23 million) and start...

Tadawul to name investors with 5% stakes

Thu, 31 Jul 2008 00:00:00 GMT

The Saudi stock market continued to show negative performance yesterday. The Tadawul All-Share Index (TASI) closed 32.31 points down at 8,740.74 after falling by nearly same points on Tuesday...

GACA Signs SR16bn Deals to Develop KAIA

Thu, 31 Jul 2008 00:00:00 GMT

The General Authority for Civil Aviation (GACA) has so far signed contracts worth more than SR16 billion to develop Jeddah's King Abdul Aziz International Airport (KAIA), Abdullah Ruhaimy, president of GACA announced yesterday...

Deal For New Jeddah Airport Signed

Wed, 23 Jul 2008 00:00:00 GMT

King Abdul Aziz International Airport (KAIA) in Jeddah will have a new state-of-the-art terminal with 74 jet bridges to receive both foreign and Saudia planes, Abdullah Ruhaimy, president of the General Authority for Civil Aviation (GACA), announced...

Kingdom Holding posts Q2 profit of SAR535 million

Tue, 22 Jul 2008 00:00:00 GMT

(Arabic) Saudi Kingdom Holding Q2 profit rose 22% to SAR535 million...

Global Values YSCC at SR79/share and recommends a BUY on the stock

Tue, 22 Jul 2008 00:00:00 GMT

Yamama Saudi Cement Company (YSCC) is currently the biggest cement producer in the country as well as in the Gulf Cooperation Council (GCC). The company was able to earn revenue of SR1,185mn, which was higher by 25% than the previous year...

Saudi Arabia mulls privatising airline

Tue, 22 Jul 2008 00:00:00 GMT

Saudi Arabia is preparing the national carrier, Saudi Arabian Airlines, for privatisation...

Emaar EC Plans Manufacturing Plant In KAEC

Mon, 21 Jul 2008 00:00:00 GMT

Emaar, The Economic City (Emaar.E.C), has signed a Memorandum of Understanding (MoU) with Mars GCC FZE, the Middle East subsidiary of Mars Inc, to open a full-fledged manufacturing plant of Mars in the Industrial Zone of KAEC...

Emaar Economic City 2Q '08 net loss widens to SAR40.4 million

Mon, 21 Jul 2008 00:00:00 GMT

(Arabic) Saudi-based Emaar the Economic City reported a net loss of SAR 40.4 million or $10.7 million in Q2 from a loss of SAR4.7 million a year earlier

Failed Saudi Arabian Project to refund Investors Money

Mon, 21 Jul 2008 00:00:00 GMT

After all the recent news about new Island developments in the UAE - one project in Saudi - The “Islands of Venice,” has failed, necessitating a substantial refund to investors...

28 Madina districts to be redeveloped

Mon, 21 Jul 2008 00:00:00 GMT

Saudi Arabia's Madina Mayoralty has determined that 'dangerous districts' constitute 42 percent of the current urban area in the region...

Saudia fare rise not tied to privatization plans

Mon, 21 Jul 2008 00:00:00 GMT

Saudi Arabian Airlines Director General said in an interview with Al-Hayat that the gradual privatization of the airline had nothing to do with increasing international ticket prices...

Properties around Madinah being acquired for expansion project

Sat, 19 Jul 2008 00:00:00 GMT

Custodian of the Two Holy Mosques King Abdullah has issued instructions for the acquisition of property toward the east of the Holy Mosque in Madinah where an expansion project was launched in 2006, Al-Madinah newspaper reported...

Saudi Arabia Launches New Policy for Land Registration

Tue, 15 Jul 2008 00:00:00 GMT

Prince Meteb Bin Abdulaziz, Minister of Municipal and Rural Affairs has announced the launch of new land registration policy to bring transparency to land registries...

Emaar awards contracts for Al-Nada, Al-Ghadeer

Tue, 15 Jul 2008 00:00:00 GMT

AL-KHOBAR - Emaar Middle East, a leading property developer in the region, has awarded construction contracts for the first two residential villages in its Al-Khobar Lakes development to several leading Saudi Arabian contractors. This follows the ground-breaking for the project in June by Prince Mohammed Bin Fahad Bin Abdul Aziz, Governor of Eastern Province. Ground leveling work, exc...

New Saudi traffic law does away with gender of driver

Tue, 15 Jul 2008 00:00:00 GMT

There is no provision in the new traffic law, which came into force on Monday, that prevents women from driving vehicles, says Maj Gen Fahd Al Bishr, director general of Saudi Traffic Department...

Saudi Arabian Airlines orders eight Airbus A330-300

Mon, 14 Jul 2008 00:00:00 GMT

Saudi Arabian Airlines has signed a firm contract with Airbus for eight A330-300 wide body aircraft, as part of its fleet modernization plan...

Emaar ME awards contracts for Al Nada and Al Ghadeer Villages within Al Khobar Lakes

Mon, 14 Jul 2008 00:00:00 GMT

Emaar Middle East, a leading property developer in the region, has awarded construction contracts for the first two residential villages in its Al Khobar Lakes development to several leading Saudi Arabian contractors...

Istimaras Will Be For 10 Years in Saudi Arabia

Mon, 14 Jul 2008 00:00:00 GMT

Saudi Arabi's authorities have approved a proposal to extend the validity of vehicle licenses (istimara) to 10 years for a fee of SR400, Maj. Gen. Fahd Al-Bishr, director general of the Traffic Department, announced...

Saudi TASI Plummets Below 9,000 Points

Thu, 10 Jul 2008 00:00:00 GMT

The Saudi stock market continued to plunge yesterday. The Tadawul All-Share Index (TASI) dropped below 9,000 points for the first time since April 1...

Saudi appoints firm to establish and operate $5b railway project

Wed, 9 Jul 2008 00:00:00 GMT

The council of ministers on Monday licenced a joint stock company to establish and operate the estimated $5 billion east-west railway (land bridge) project...

Bahrain Al Khaleej Devt To Develop Project In Saudi Arabia

Wed, 9 Jul 2008 00:00:00 GMT

Bahrain-based Al Khaleej Development Co., or Tameer, said it will develop a residential project in the Eastern Province in Saudi Arabia...

Company Licensed To Run East-West Railway In KSA

Tue, 8 Jul 2008 00:00:00 GMT

The much-awaited east-west railway (land bridge) project received a boost yesterday as the Council of Ministers licensed a joint stock company to establish and operate the estimated $5 billion project...