SR 2 tr investments spur KSA real estate business

March 2, 2013

KSA_real_estate_business

Jeddah, Mar 2: Total investments in real estates across Saudi Arabia have reached more than SR 2 trillion, making the country one of the top real estate markets in the world.

“The Kingdom’s housing need in 2020 is estimated at 4.5 million units at an estimated cost of SR 117 billion annually and it would need 110 million square meters of housing plots,” said Khaled Al-Ghamdi, chairman of Taifah Al-Aqar in Jeddah.

Housing is one of the major problems facing the Kingdom.

Al-Ghamdi put the housing needs of Jeddah at 1 million units by 2020. “There is demand for 100,000 residential units in the city every year,” he said.

Jeddah’s real estate business is growing fast with SR 21.5 billion worth of deals concluded over the past three months. He attributed the increasing investment in the sector in Saudi Arabia and other Gulf countries to the region’s security and stability.

The real estate market in the Kingdom has taken a giant stride in recent years especially in Jeddah where properties under construction are estimated at SR 200 billion. Al-Ghamdi stressed the need to set up a higher commission for real estate without further delay, adding that the Council of Saudi Chambers has recommended its formation. Such a commission, he said, is needed to regulate the Kingdom’s real estate sector and serve as a reference for all its disputes besides serving as a driver for the sector’s increased contributions to the GDP.

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24-yr-old NRI techie falls to death from UAE building after throwing his phone down

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August 3,2020

Sharjah, Aug 3: A 24-year-old Indian engineer has fallen to death from the sixth floor of a residential building on Eid al-Adha in the UAE's Sharjah, a media report said on Monday.

The electrical engineer, identified with his single name Sumesh, hailed from the south Indian state of Kerala.

He lived in a building in Al Dhaid in Sharjah, from where he fell to death on Friday, the report said, adding that he was apparently talking over the phone and threw it down minutes before the incident.

Sumesh, who came to the UAE a year ago, worked as a designer in Sharjah's Muwaileh area. His roommates said that he had some "personal issues" that had been "bothering him for some time", according to the report.

"It was Eid al-Adha and our cook had made biryani for us. We were all cracking jokes and having a good time. In fact, even Cuckoo (Sumesh) was also laughing with us. He seemed happy. Nobody had anticipated this. I did sense a few times that something was troubling him and I even asked him about it, but he brushed it off," the report quoted his roommate Dileep Kumar as saying.

Shans KF, another roommate, said Sumesh was to travel to India for his annual leave but could not because of the COVID-19 pandemic.

The police have launched an investigation and moved the body to the forensic lab for an autopsy.

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Saudi govt asks expats to cancel final exit, reentry visas

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March 24,2020

Riyadh, Mar 24: General Directorate of Passports (Jawazat) on Tuesday asked all expatriates in the Kingdom, who have a final exit visa or an exit and reentry visa, to quickly cancel them before their expiry. This is to avoid the prescribed fines for not availing of these visas before their expiry date, the Saudi Press Agency reported.

The new measure was taken following the Saudi government’s suspension of international flights as part of the preventive and precautionary measures to stem the spread of new coronavirus. The Jawazat asked expatriates to verify the validity of such visas and cancel them through Ministry of Interior’s electronic service portals of Absher or Muqeem.

It underlined the need to adhere to the regulations and instructions in order to avoid fines prescribed by law against the violators.

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My reentry expair date 26-03-2020 plz help me

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UAE records 873 new corona cases; tally reaches 25,063 including 227 deaths

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May 19,2020

Abu Dhabi: The United Arab Emirates today reported 873 new coronavirus cases, pushing the total number of COVID-19 infections in the country to 25,063.

Three more people have died from the virus, bringing the total death toll to 227, the ministry revealed, adding that a total of 1,214 COVID-19 patients have made full recovery, which takes the overall number of patients recovered to 10,791.

The latest coronavirus patients, all of whom are in a stable condition and receiving the necessary care, were identified after conducting more than 38,000 additional COVID-19 tests among UAE citizens and residents over the past few days, the ministry said.

It expressed its sincere condolences to the families of the deceased and wished a speedy recovery to all patients, calling on the public to cooperate with health authorities and comply with all precautionary measures, particularly social distancing protocols, to ensure the safety and protection of the public.

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