Egypt - Mountain View for Real Estate Development and Investment is planning to begin its operations in Saudi Arabia before the end of this year, Chairman Amr Soliman told Asharq Business.   The company is set to make its debut in the Saudi market by launching a project in Riyadh, in partnership with Maya Real Estate Development and Investment and Al Saedan Real Estate, Soliman noted.   He added that his company targets up to SAR 2 billion in sales from its new project in the kingdom.   Furthermore, the firm seeks to boost its investments in Egypt by pumping up to EGP 30 billion in into projects in 2025, compared to EGP 15 billion in investments targeted for the current year, Soliman revealed.   Additionally, Mountain View is set to launch three projects in…

Leading Saudi real estate developer and a PIF company Roshn Group has opened registration for the participants of Musahama Design Competition - Emerging Design Firms Track - with the registration due by September 30.   Part of PIF’s Musahama programme, it aims to qualify and select designs for facilities and amenities within the flagship Sedra community.   The contest is designed to boost local content and empower national talent in line with Vision 2030, said the statement from the developer.   Musahama Design Competition: Sedra Pedestrian Spine offers rising architects, including final-year students and recent graduates of architecture programs, as well as emerging local design firms, the opportunity to envision the future of living in the…

The Egyptian government launched 543 new real estate projects in the country last year with initial investments worth $363 million, Asharq Business reported, citing Deputy Minister of Housing Walid Abbas. Abbas highlighted that 86% of the total new projects are held by the private sector. He added that the government allocated 1,350 industrial land plots of an area of 17,393 feddans worth EGP 26 billion for investors and developers last year.

The Egyptian real estate company Tatweer Misr is planning to launch its first real estate project in Saudi Arabia’s Riyadh, in partnership with Naif Alrajhi Investment, Tatweer’s CEO Ahmed Shalaby told Asharq Business.   The project is set to be carried out on an area ranging from 2 to 3 million square meters by the end of 2024, Shalaby noted.   He added that his company is considering other investment opportunities in the Saudi market with government entities.

Mountain View for Real Estate Development and Investment has launched "Mountain View KSA," marking its first step in expanding regionally, as per an emailed press release. The company has partnered with Maya Real Estate Development and Investment Company and Al Saedan Real Estate Company to acquire its first plot of land in Saudi Arabia’s capital, Riyadh. This acquisition is part of Mountain View’s long-term plan to develop several urban projects in Saudi Arabia, aligning with the country's Vision 2030 goals. The move comes as the Saudi real estate market grows rapidly, driven by a booming population and strong economy. This expansion highlights Mountain View’s commitment to "Bringing Life to Land and Spreading Happiness Around Us" throughout the region. Mountain…

Saudi Arabia’s drive to develop giga projects in the kingdom has resulted in an uptick in the total value of its real estate development plan to $1.3 trillion, rising by 4% from 2023, despite a slowdown in commissioned projects that witnessed a drop in value by $85 billion, according to the global property consultancy Knight Frank data.  Saudi’s Vision 2030 diversification plan that has propelled a shift in the kingdom’s dependence on oil and gas production, has given rise to a construction boom where real estate and infrastructure projects continue to contribute to the country’s GDP. Yet, on one hand, even as the kingdom’s project pipeline hit a valuation of $249 billion, according to Knight Frank’s latest ‘Saudi Giga Projects…

Riyadh: The Minister of Municipalities and Housing, Majed bin Abdullah Al-Hogail, witnessed today the reaffirmation of a collaboration between ROSHN Group and Tarmeem, a charity focused on renovating homes.According to a press release from ROSHN, the partnership aims to improve the quality of life for Saudi citizens and support social development.ROSHN and Tarmeem plan to renovate 100 homes across the Kingdom for the second year as part of ROSHN's YUHYEEK social responsibility program, which aims to enhance the well-being of communities.Over 500 volunteers from ROSHN and the wider community renovated 100 homes in 2023, benefiting more than 700 Saudi citizens. The release said the partnership with Tarmeem reflects ROSHN's commitment to improving the living conditions of those in need and…

Saudi Arabia - Rize, a groundbreaking Property Tech company, has received Sharia certification for its rent payment solution from the Shariyah Review Bureau (SRB), a leading Sharia advisory services provider. This certification represents a significant milestone for Rize, which is committed to transforming the real estate rental experience through innovative payment solutions. Rize has unveiled a distinctive financial model that allows tenants to convert traditional annual rent payments into manageable monthly installments. This flexibility greatly reduces the upfront financial burden on tenants while ensuring landlords receive the full annual rent upfront, thus providing immediate liquidity and minimising vacancy periods. This model aligns perfectly with the objectives of Saudi Vision…

Riyadh: The National Housing Company (NHC) has announced a significant leap in its residential unit sales during the first half of 2024, reaching SAR13.5 billion.   Over 13,000 units were sold, a fourfold increase compared to the same period last year.This achievement results from ongoing efforts to meet the housing needs of citizens across various regions of the Kingdom and all segments of society, focusing on providing a comprehensive urban environment that enhances the quality of life.The sales growth is attributed to NHC's launch of numerous housing projects across different regions of the Kingdom. These projects contributed to the realization of Saudi Vision 2030 goals by increasing the homeownership rate to 70%.The exceptional growth results from NHC's adoption of…

Work is forging ahead on the SAR17.2 billion ($4.586 billion) The Avenues – Riyadh, which is expected to open in the first quarter of 2026.       Having broken ground during the first quarter of 2022, the project has reached 44.5 per cent completion, said a statement.   Joining the kingdom’s numerous new mega projects, The Avenues - Riyadh is a collaboration between Shomoul Holding Company and regional architecture and engineering firm, Pace.   Located at the heart of Saudi Arabia in the northern region of Riyadh City, overlooking the intersection of King Salman Road and King Fahad Road, The Avenues - Riyadh extends across an area of 390,000 sq m with a total built up area of 1,870,000 sq m. The mixed-purpose development will house a plethora…

Minister of Municipalities and Housing Majid Al-Hogail concluded his official visit to the United States. He engaged with American government officials and leaders in the construction and real estate development sectors to strengthen bilateral partnerships in construction, finance, and real estate.   During the visit, five significant agreements were signed between the Saudi housing system and various American companies, including the Saudi Real Estate Refinance Company (SRC) with BlackRock and King Street. These agreements aim to develop real estate refinance market programs, expand access to local and international capital markets, and diversify funding sources through fixed income markets.   Additionally, two partnership agreements were signed between the Saudi Housing…

This partnership seeks benefit from the experience of the two companies in establishing, managing and developing commercial and service real estate projects. These assets are located on the lands owned by the two companies in the centre of Riyadh, which include Al-Taamir Markets, Al-Muaiqiliyah Center and Al-Dira Markets. The in-kind contribution of Riyadh Development Company to Al-Taamir Wholesale Commercial Center represents 46.34% of the partnership, while the contribution of Riyadh Holding Company to Al-Muaiqiliyah Commercial Center and Al-Dira Market is estimated at 53.66% of the partnership. The agreement comes in accordance with Riyadh Development Company's strategy and its eagerness to establish supportive partnerships that enable it to achieve financial sustainability and raise…