Business & Money | Saturday 20 July, 2024 1:01 am

NHC, China's CSCEC ink deal to build 20,000 housing units in Saudi

National Housing Co. (NHC) signed an agreement with China State Construction Engineering Corporation (CSCEC) to build 20,000 housing units in NHC's suburbs and communities Kingdom-wide.   Under this partnership, a total of 20,000 housing units of various areas will be constructed....

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Business & Money | Saturday 20 July, 2024 12:56 am

Saudi home ownership reaches 63.7% in 2023

Saudi home ownership rate reached 63.7% at the end of 2023, an increase of 16.7 percentage point from 2016, the 2023 Housing Program report showed.   The report cited several achievements of the program for 2023. More than 96,000 families benefited from housing support in 2023...

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Business & Money | Saturday 20 July, 2024 12:53 am

Germany's Lilium mulls to manufacture jets in Saudi Arabia: CEO

Lilium, the developer of the first all-electric vertical take-off and landing (eVTOL) jet, is exploring the possibility of manufacturing its jets in Saudi Arabia, Al Eqtisadiah newspaper reported, citing CEO Klaus Roewe.   Lilium is currently working on the development of a support...

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Business & Money | Friday 19 July, 2024 3:49 pm

KSA records SAR 605B real estate deals post brokerage law

The number of real estate transactions grew by nearly 17% to 3.5 million at a total value of more than SAR 605 billion within a year from implementing the Real Estate Brokerage Law, said Abdullah Al-Hammad, CEO of the Real Estate General Authority (REGA).   During his opening speech...

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Government | Friday 19 July, 2024 3:45 pm

Minerals Program identifies local needs, supports foreign investment: Almudaifer

The National Minerals Program seeks to enhance the continuity of supply chains amid the execution of major projects and to identify local mineral needs, Al Eqtisadiah newspaper reported, citing Khalid Almudaifer, Vice Minister of Industry and Mineral Resources. He added that the program...

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Business & Money | Friday 19 July, 2024 3:43 pm

Dar Global plans to launch Trump Tower Dubai in 2025

London-listed Dar Global Co., the international arm of Saudi Arabia's Dar Alarkan Real Estate Development Co., along with the Trump Organization, announced their collaboration to establish a Trump-branded tower in Dubai, Reuters reported.   In a statement, Dar Global said the tower...

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Government | Friday 19 July, 2024 3:40 pm

Saudia's jet deal to provide advanced transportation alternatives: Al-Jasser

Saudia's signing of the largest global order with Germany's Lilium to purchase up to 100 electric eVTOL jets aims to offer air taxi services in the Kingdom, said Saleh Al-Jasser, Minister of Transport and Logistics.   He said on his official X account that the deal also aims to...

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Tourism & Hospitality | Friday 19 July, 2024 3:38 pm

New regulations underway to facilitate investment in Saudi

Minister of Tourism, Ahmed Alkhateeb, said that work is underway on new laws and regulations to facilitate investment in Saudi Arabia. The private sector always seeks profits and returns. Therefore, tourism projects will be a pull factor for investors. ...

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Business & Money | Friday 19 July, 2024 12:47 am

DOF and FAB Partnership to Enhance Digital Government Service Experience in the Emirate

Department of Finance in Ajman (DOF) signed a service agreement with First Abu Dhabi Bank (FAB) to augment the unified digital payment platform for Ajman's government, SADAD Ajman, and its digital wallet. The aim is to provide comprehensive and advanced payment solutions that add value,...

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Business & Money | Friday 19 July, 2024 12:44 am

Salik joins United Nations Global Compact, reinforcing commitment to sustainable business practices

Salik Company PJSC (Salik), the exclusive toll gate operator of the Emirate of Dubai, has taken a significant step forward in its sustainability journey. The company has joined the United Nations Global Compact, the world's largest corporate sustainability initiative. By aligning with the United...

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