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…

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…

Kuwait - In the first half of 2024, real estate companies listed on the Boursa Kuwait collectively reported operating revenues of 239 million dinars, marking a 3.4 percent increase from 231 million dinars in the same period of 2023.   This rise represents a gain of 79.1 million dinars compared to the previous year. The top performers include the Mabanee Company which led the sector with the highest operating revenues, reaching 66 million dinars, up from 61.8 million dinars. The United Real Estate Company followed with revenues of 40.2 million dinars, a decrease from 43 million dinars and the Salhia Real Estate Company secured third place with revenues of 22.2 million dinars, an increase from 20 million dinars. As for the Kuwait Real Estate Company, it earned 15.8 million dinars,…