article author:  Dayan Abou Tine Thu, 2024-04-11 13:56 RIYADH: Saudi banks extended loans totaling SR2.65 trillion ($706.3 billion) in February, marking an 11 percent rise from the same month in 2023, according to the latest official data. Figures released by the Kingdom’s central bank, also known as SAMA, showed an increase in personal borrowings accounted for 32 percent of this growth, while the remaining 68 percent was attributed to the expansion of corporate lending, particularly for real estate activities, as well as electricity, gas, and water supplies.  Main category:&nb ..read more

article author:  Arab News Author:  Mon, 2024-03-11 14:23 RIYADH: Real estate transactions are set to surge in Saudi Arabia in 2024 thanks to Vision 2023 investments, according to an S&P Global report. In a report titled “GCC Real Estate How Credit Stories Have Evolved,” S&P believes the Kingdom’s property sector will also benefit from economic growth of up to 3 percent in the Gulf Cooperation Council region for the current year.  The rise was attributed to sustained oil-related expansion and an increase up to 5 percent in the non-oil economic activity ..read more

article author:  ARAB NEWS  Author:  Thu, 2024-03-07 13:22 RIYADH: Saudi Arabia is powering growth in the Gulf Cooperation Council’s real estate sector, accounting for 63.1 percent of total projects in the region in 2024, a new report showed.  According to consultancy firm CBRE, the total value of the projects pipeline across the GCC is estimated at $1.68 trillion in 2024 – an increase from $1.38 trillion the previous year. The Kingdom accounts for $1.06 trillion of this total.  Main category:  Business & Economy Tags:  r ..read more

article author:  Arab News Author:  Wed, 2024-03-06 20:32 RIYADH: The Saudi capital will soon be home to new offices and commercial projects thanks to the launch of the Durrat King Khalid Fund, inaugurated by Riyad Capital.  Established in partnership with Saudi real estate firm Al-Ramz, the new initiative aims to develop a qualitative project within the office property sector, positioned in a prime location in the capital on an area of 27,000 sq. m., according to a statement.  Main category:  Business & Economy Tags:  real estate fund Riyadh SaudiVis ..read more

article author:  Arab News Author:  Wed, 2024-02-21 15:15 RIYADH: Dubai’s real estate market experienced robust growth in 2023, reaching an all-time high with residential transactions totaling 118,993 units, a report from CBRE revealed.  The report highlighted a 29.6 percent year-on-year increase in deal volumes, driven by growth in both the off-plan market and secondary deals.  Off-plan residential properties are purchased before construction, while the secondary market involves resale properties, existing homes, and established housing areas.  Main category:&nb ..read more

article author:  ARAB NEWS  Wed, 2024-02-21 15:07 RIYADH: Real estate projects worth $1 billion will be developed in Saudi Arabia after the Kingdom signed an agreement with the Egyptian government.     The memorandum of understanding, inked between Cairo and the Saudi-Egyptian alliance, seeks to facilitate logistical supply and support for property-related projects in the Kingdom.   This initiative will be executed by the alliance, as reported by the Saudi Press Agency.    Main category:  Business & Economy Tags:  saudi-egyptian allianc ..read more

article author:  Arab News Mon, 2024-02-19 15:17 RIYADH: Saudi developers received a funding boost with deals exceeding SR2.4 billion ($640 million) signed on the sidelines of the four-day Restatex Real Estate Exhibition in Riyadh.   In addition, the event witnessed the launch of three property development funds, amounting to over SR1 billion.   The exhibition aims to underscore the property sector’s role in diversifying investment sources, a key goal of Saudi Arabia’s Vision 2030.  Main category:  Business & Economy Tags:  Restatex real est ..read more

article author:  Arab News Author:  Thu, 2024-02-15 13:38 RIYADH: Property developers in Saudi Arabia can now seek licenses and qualifications through a new electronic platform launched by the Real Estate General Authority. This initiative, unveiled in the presence of Majid Al-Hogail, minister of municipal and rural affairs and housing and chairman of REGA, alongside Mohammed El-Kuwaiz, chairman of the Capital Market Authority, is set to streamline the application process for real estate contributions. Main category:  Business & Economy Tags:  Saudi Real E ..read more

article author:  Arab News Author:  Wed, 2024-02-14 14:39 RIYADH: Saudi Arabia’s capital witnessed a 7 percent rise in real estate transaction volumes in 2023 compared to the previous year, according to Knight Frank.  Riyadh made this progress at a time when other cities in the Kingdom, which includes Jeddah and Dammam, saw a decline in transaction volumes by 21 percent and 12 percent, respectively.  In its latest report, the UK-based agency revealed that overall transaction volumes in Saudi Arabia’s real estate sector fell by 17 percent in 2023 to just over 177,000.&nbs ..read more

article author:  ARAB NEWS  Wed, 2024-02-14 12:38 RIYADH: More than 400 single-family homes will be built in Saudi Arabia’s Eastern Province after real estate developer ROSHN Group signed a series of new agreements. The deals include the design and construction of the properties, as well developing public facilities and services in the group’s ALFULWA residential community.   Main category:  Business & Economy Tags:  ROSHN real estate ..read more