18 Ramadan 1445 - 28 March 2024
    
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Eye of Riyadh

REITs constitute 34% of total Saudi funds with SAR 192B: Official
Business & Money | Tuesday 20 February, 2024 9:21 am
The REITs dominate 34% of the total size of funds in Saudi Arabia, with SAR 192 billion, Al Eqtisadiah newspaper reported, citing Fahad bin Hamdan, Assistant Deputy, Financing, and Investment at the Capital Market Authority (CMA).   REITs dominated nearly 18% of the total funds...
Al-Hogail witnesses signing of agreements, launch of real estate funds at SAR 3.5B
Business & Money | Monday 19 February, 2024 8:40 am
Minister of Municipal, Rural Affairs and Housing Majid Al-Hogail witnessed the signing of SAR 2.4 billion worth of memorandums of understanding (MoUs) and agreements, along with the launch of three real estate funds at over SAR 1 billion.   The agreements were signed...
Rothschild opens new office in Riyadh’s KAFD
Business & Money | Monday 19 February, 2024 8:38 am
Rothschild & Co. opened today, Feb. 18, a new office in Riyadh-based King Abdullah Financial District (KAFD), as part of its strategic expansion in Saudi Arabia, boosting its Middle East presence.   The company said this reflects its commitment to Saudi Arabia's growth potential. ...
Saudi Arabia advances on Road Quality Index to rank 4th among G20 nations
Business & Money | Monday 19 February, 2024 8:37 am
Saudi Arabia continued to advance on the Road Quality Index (RQI) to the level of 5.7, taking the fourth place globally among the G20 countries, the Saudi Press Agency (SPA) reported, citing the World Economic Forum (WEF) report for 2023.   The Roads General Authority (RGA) indicated ...
Real Estate Registry seen to register 80% of real estate by 2028: CEO
Business & Money | Sunday 18 February, 2024 8:16 am
Mohammad Al-Sulaiman, CEO of the National Real Estate Registration Services Co. (Real Estate Registry - RER), said 2024 will be a distinguished year for the real estate registry, Al Eqtisadiah newspaper reported.  He pointed out that 80% of the Kingdom's real estate will likely be...
Details of tax rules for regional headquarters in Saudi Arabia
Business & Money | Sunday 18 February, 2024 8:12 am
Umm Al-Qura newspaper published on Feb. 16 the tax rules for regional headquarters (RHQ), which include the provisions related to the tax incentives granted to RHQ.   The rules will be effective as of their publication date.   Under the rules, the RHQ that meet the...
Advanced seals $191M EPC contract for isopropanol plant
Business & Money | Sunday 18 February, 2024 8:10 am
Advanced Petrochemical Co. signed EPC contracts to build the isopropanol plant in Jubail Industrial City using the manufacturing tech from Germany’s Thyssenkrupp at a total value of $191.26 million (SAR 717.23 million). In an emailed statement to Argaam, Advanced said the project will...
SAMA announces Ramadan working hours; Eid Al-Fitr, Eid Al-Adha holidays
Government | Saturday 17 February, 2024 3:16 am
The Saudi Central Bank (SAMA) announced today, Fqb 15, the working hours for financial institutions during the holy month of Ramadan, in addition to Eid Al-Fitr and Eid Al-Adha holidays.  Banks will work from 10 am until 4 pm during Ramadan.  Working hours for banks' foreign...
Lucid to offer home charger allowance to boost sales
Cars & Autos | Saturday 17 February, 2024 3:13 am
Lucid Group is trying to ensure that customers have the best possible charging experience, adding that an allowance of SAR 3,750 will be provided to help customers get the Lucid Home Charger available in the Saudi market.   The car maker will also focus on reducing Lucid Air prices,...
HRSD Ministry says Feb. 22 official holiday for public, private sectors
Government | Saturday 17 February, 2024 3:11 am
The Ministry of Human Resources and Social Development (HRSD) announced Feb. 22 as an official holiday for the public and private sectors, on the occasion of celebrating the foundation of Saudi Arabia, Saudi Press Agency reported.   On Jan. 27, 2022, King Salman issued a royal...
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