The volume of real estate trading in sales contracts at the Department of Real Estate Registration at the Ministry of Justice from July 14 to 18, reached QR236,365,454, while the total sales contracts for residential units in the Real Estate Bulletin during the same period reached QR20,030,865.       The weekly bulletin issued by the Department shows that the list of real estate properties traded for sale included vacant lands, houses, residential buildings, a residential-commercial building, shops, and residential units.   Sales were concentrated in the municipalities of Al Rayyan, Doha, Al Wakrah, Al Daayen, Al Khor and Al Dakhira, Umm Salal, and the areas of Lusail 69 and Rawdat Egdaim.      The volume of real estate trading in sales…

Riyadh -- The King Abdullah Financial District (KAFD) has earned the SmartScore certification for urban neighbourhoods by WiredScore, the world's leading authority in the field of smart building technologies, thanks to its advanced digital infrastructure that provides robust connectivity, sustainability and seamlessness at the levels of living, work and leisure.By winning this certificate, KAFD becomes the first in MENA to obtain WiredScore's SmartScore certification for urban neighbourhoods.This recognition comes after KAFD underwent a rigorous evaluation and certification process that began in September 2023, after which Wired Score announced at Cityscape Global in Riyadh that KAFD had met the pre-accreditation criteria for obtaining the Smart Score certification for urban…

Doha, Qatar: Qatar’s real estate sector offers several opportunities for residents and investors alike. The country’s realty market has continued to witness growth during the second quarter (Q2) of this year as it witnessed deals worth QR3.191bn for 808 real estate transactions in Q2 of 2024, according to Ministry of Justice data.   The country’s market is poised to benefit in the long-term, driven by several infrastructure projects and developments, expansion of the industry across the country, and investment-friendly initiatives implemented by the government in addition to an appetite for safe investment. In the first quarter of last year the real estate index achieved total value of QR4.375bn for 795 real estate transactions. The real estate transactions…

Hassana Investment Company (Hassana) signed a Memorandum of Understanding (MoU) with Dar wa Emaar Real Estate Investment & Development Company (DWE) to develop a 1.2 million square meter real estate project in the Al Qadissiyah district of North Riyadh.   This collaboration, a strategic partnership built on mutual strengths, will focus on master planning, infrastructure development, public amenities, and potentially developing anchor real estate assets.   The development will accommodate up to 4,000 modern residential units and provide a total retail built-up area of approximately 100,000 square meters.   The residential-focused master plan development will offer quality residential, educational, entertainment, and retail spaces to meet the growing needs of modern…

Talat Moustafa Group Saudi Arabia has begun construction on “Banan City,” a large-scale smart city project located northeast of Riyadh. The announcement comes just two months after the company launched a significant advertising campaign promoting the development.       Construction activity is already underway on the 10-million-square-meter site, with hundreds of heavy machinery units deployed to meet project deadlines. TMG emphasizes its commitment to delivering units to future residents on schedule and ensuring the provision of essential services within the city.   The major advertising campaign for Banan City launched in May 2024 and featured prominent media personality Waleed Al-Faraj and Egyptian actor Karim Abdel…

The Saudi Real Estate General Authority (REGA) has stressed the importance of adequately documenting real estate contracts in all transactions. This is crucial for upholding the rights of all involved parties, minimizing real estate disputes, and improving the quality of transactions to promote sector growth and sustainability. REGA provides real estate documentation services through its approved digital platforms for individuals and establishments. The aim is to regulate real estate transactions, protect beneficiaries, boost market confidence, stimulate real estate activity, increase awareness among real estate professionals, and introduce real estate services, regulations, and legislation. This is achieved through real estate initiatives, organizing forums, and participating in…

Kuwait International Bank (KIB), represented by its Real Estate Department, recently delivered its second specialized workshop on the fundamentals of investment and real estate appraisal at Kuwait University's (KU) College of Business Administration. This initiative comes as part of KIB’s support of the “Let’s Be Aware” (Diraya) awareness campaign and the Bank's mission to transfer knowledge and expertise to a wide range of students, whom KIB views as promising future assets. Additionally, this effort is part of implementing its memorandum of understanding with KU to integrate practical studies into the university’s academic curriculum. This important event saw the participation of Real Estate Expert Eng. Hussam Al-Kolak and Real Estate Advisor Arch. Basil…

The volume of real estate trading in sales contracts at the Department of Real Estate Registration at the Ministry of Justice during the period from July 7 to 11, reached QR 283,730,386, while the total sales contracts for residential units in the Real Estate Bulletin during the same period reached QR 35,021,022.   The weekly bulletin issued by the Department shows that the list of real estate properties traded for sale included vacant lands, houses, residential buildings, a residential commercial building, shops, and residential units. Sales were concentrated in the municipalities of Al Rayyan, Doha, Al Wakrah, Al Daayen, Umm Salal, Al Khor and Al Dakhira, Al Shamal, and the areas of The Pearl Island, Fox Hill and Dafna. The volume of real estate trading in sales contracts…

DOHA: The volume of real estate trading in sales contracts at the Department of Real Estate Registration at the Ministry of Justice from June 30 to July 4 reached QR419,378,464, while the total sales contracts for residential units in the Real Estate Bulletin during the same period reached QR31,341,765.   The weekly bulletin issued by the department shows that the list of real estate properties traded for sale included vacant lands, houses, residential buildings, a residential-commercial building, shops, and residential units. Sales were concentrated in the municipalities of Doha, Al Rayyan, Al Daayen, Umm Salal, Al Wakrah, Al Khor and Al Dakhira, Al Shamal, and the areas of The Pearl Island, Lusail 69 and Legtaifiya. The volume of real estate trading in sales contracts…

Average rental rates across Riyadh’s retail market have risen by 3% to SR2,725 ($727) psm for both regional and super regional malls in the last 12 months, while occupancy rates across the retail market rose by 5 percentage points to 90%. According to global property consultancy Knight Frank’s Summer 2024 Saudi Arabia Retail Market Overview, the total existing retail supply in Riyadh stands at 3.6 million sq m, with around 27,050 sq m of retail space entering the market in Q1 2024. Knight Frank forecasts that the capital’s retail stock will grow by 28% to 4.6 million sq m by 2026. In contrast to the capital, Jeddah and the Dammam Metropolitan Area (DMA) have experienced subdued retail market growth in the last 12 months with occupancy rates dropping by 1 percentage…

The real estate market in the country demonstrated a seven percent growth in the first half of this year compared to the second half of last year. from January to June 2024, the total value of real estate contracts registered with the Ministry of Justice amounted to approximately 1.619 billion dinars, marking an increase of 112 million dinars from the 1.507 billion dinars registered in the second half of 2023. Despite the overall growth in total contract value, there was a notable decline in various types of real estate transactions, except for exhibitions and warehouses.     The first half of the year saw the registration of 4 exhibition contracts totaling 10.8 million dinars, and warehouse contracts increased by 55.5 percent in number, with 9 contracts compared to 4 in the…

The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry of Justice in June 2024, amounted to QR1,118,975,109.     The data of the real estate analytical bulletin issued by the Ministry of Justice revealed that 285 real estate transactions were recorded during the month, as the number of properties sold index recorded an increase of 8 percent.   Al Dhaayen, Al Rayyan, and Doha municipalities topped the most active transactions in terms of financial value in June, according to the real estate market index, followed by Umm Salal, Al Wakrah, Al Khor and Al Dhakira, and Al Shamal.   The real estate market index for June 2024, revealed that the financial value of Al Rayyan municipality's transactions…