Khalid Ali Alturki & Sons Company (Alturki Group) was honored with two awards at the 2011 Arabian Property Awards ceremony, an event to recognize the best residential and commercial projects…
Real Estate
Firm invests $2.66bn in Makkah hotel projects
Saudi Arabia’s Abdul Latif Jameel Real Estate Investment Company (ALJREIC) is investing SR10 billion ($2.66 billion) in developing new hotels in Makkah, its chairman said. Yousef Abdul Latif Jameel said…
Mena property deals surge 20% to $166b
Property transactions in the Middle East and North Africa region staged a strong recovery in 2011 with a 20 per cent jump to hit $ 166 billion from $ 138…
3 company alliance for developing Al-Ganadeel land plot in Makkah
A real estate alliance is signed in the eastern region between three real estate companies from the eastern and western region for developing Al-ganadeel land plot located in Guraish Bat’ha’a…
Damac completes 1st phase of Cairo mall
Damac Properties, the leading private developer in the Middle East, has announced it has completed the first phase of its Cairo shopping mega mall. Park Avenue on Cairo Alex Desert…
Saudis face key barriers to home ownership
As the supply-demand gap continues to widen in the Saudi housing sector, affordability, access to mortgage finance and lack of suitable products remain the key barriers to home ownership amongst…
Emaar’s apartment sales sag 85pc in 2011
Emaar Properties, developer of the world’s tallest building, said revenue from villa sales and its rental and hospitality units rose last year, but this was not enough to offset an…
Riyadh hotel sector set to grow 79%
Riyadh is set for a hotel sector boom and will grow nearly 80 percent if all rooms in its construction pipeline open, STR Global said in its February Construction Pipeline…
Saudi Arabia real estate index mixed in certain areas
The real estate index has registered a rise in Riyadh, Al-Qateef and Hafr Al-Batin and a drop in Madina and Dammam, the Ministry of Justice said Wednesday in its weekly…
Saudi King orders 1,000 new homes for Jizan
King Abdullah, Custodian of the Two Holy Mosques, has ordered the construction of 1,000 residential units in the districts of Al-Oshaima, Al-Jabal and Al-Malah in Jizan. The announcement was made…
