RIYADH - Ajdan Real Estate Development has announced the signing of an agreement with Aljazira Capital to establish a project amounting to about SR2 billion to build mixed-use towers as well as to launch the Aljazira Ajdan Real Estate Fund. This was part of a new strategic partnership and an extension of previous partnerships between the two entities.The project, which spreads over an area exceeding 21000 square meters, is located in the heart of Riyadh, in a prime geographical location in Al-Rahmaniyah district, at the intersection of two key roads, King Fahd Road and King Abdullah Road. It is also close to major landmarks, including the Ministry of Municipalities and Housing, King Abdullah Financial District (KAFD), King Saud University, King Salman Park, Kingdom Tower, Dallah…

Al Mouj Muscat, Oman’s premier lifestyle destination has set a new standard in golf course living by introducing the Golf Link Residences, a collection of elegant apartments and residences nestled on the lush fairways of Al Mouj Golf.   The highly anticipated neighbourhood is set to become one of the most desirable residential options as it redefines luxury living with breathtaking views, premium amenities, and unmatched benefits, a press release said.   Featuring only 28 luxurious four-bedroom residences and a range of one to three-bedroom apartments, the exclusive neighbourhood seamlessly integrates ‘the luxury of nature’ into every detail of its design to catch the eye of today’s discerning homebuyers and investors.   The bespoke residences…

Bahrain - Al Areen Holding Company, a subsidiary of GFH Financial Group and the developer of Al Areen masterplan, is set to kick off a 10-day promotional campaign to highlight its pioneering Tilal Residential Project, in Bahrain.   A soon-to-be contemporary destination for those seeking an exceptional lifestyle close to scenic nature, Tilal Residential Project, boasts a panoramic view of Al Areen Wildlife Reserve, said the developer in a statement.   Starting from September 19, Al Areen Holding Company will provide exclusive offers on residential units within the Tilal Residential Project. Spanning over 93,000 sq m, the premium project will offer residents a range of luxurious villas and townhouses. The property is characterised by lavish modern design and spaciousness, with…

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.

Doha, Qatar: The volume of mortgage transactions registered during August of this year reached 86 transactions with a total amount of QR1.671bn.   Doha Municipality registered the highest number of mortgage transactions with 36 (equivalent to 41.9 percent) of the total number of mortgaged properties, followed by Al Rayyan Municipality with 25 transactions (equivalent to 29.1 percent).   Then Al Dhaayen Municipality with nine transactions (equivalent to 10.5 percent) of the total number of mortgaged properties, according to data by Ministry of Justice. Regarding the value of mortgages in August 2024, Doha Municipality came first with amount of QR1.418bn while Al Shamal Municipality registered the lowest value which reached QR2.160m.   Considering the indicator of…

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.

Bahrain Marina Development Company, the developer behind the prestigious Bahrain Marina project in the heart of Manama, has announced a significant achievement with 25% of the Phase I already completed.   One of the most significant real estate and tourism developments in the kingdom, the Bahrain Marina is designed to provide an integrated and luxurious living experience that blends high-end residential, retail, entertainment, and hospitality offerings.   The project features an array of luxury residential units, including meticulously designed apartments offering panoramic views of the Gulf. Five-star hotels provide premium hospitality services.   A state-of-the-art yacht marina is also part of the development, offering world-class facilities for marine enthusiasts,…

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…

KUWAIT CITY - A Professor of Economics at Kuwait University and a researcher in urban economics and housing Dr. Dhari Al- Rasheed highlighted the importance of the real estate sector in the country. It accounts for approximately nine percent of Kuwait’s GDP. Housing expenses consume between a third and half of the average household budget. He stressed the need to reassess various housing and real estate issues, especially with the state’s near-total control over private housing provision through the housing care program, which has limited the private sector’s involvement in real estate development. Moreover, Dr. Al-Rasheed raised concerns about the limited housing options and the constraints imposed on supply by the laws and regulations related to building and…

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…