Ministry signs deal to develop real estate market in Saudi Arabia

The bank will provide financial support of up to SR300,000 ($80,000) to real estate projects nominated by the ministry. (SPA)
Updated 27 March 2019
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Ministry signs deal to develop real estate market in Saudi Arabia

  • The bank will provide financial support of up to SR300,000 ($80,000) to real estate projects nominated by the ministry

RIYADH: The Ministry of Housing has signed an agreement with the Social Development Bank to finance entrepreneurs who want to work in real estate brokerage.
Under the terms of the agreement, the bank will provide products to small enterprises to help them take advantage of opportunities in the property sector. The agreement was signed by Mazen Bin Mohamed Daood, superintendent of real estate planning at the ministry, and Saeed Bin Saleh Al-Zahrani, assistant general manager of the microfinance sector at the Social Development Bank.
As per the agreement, the bank will provide financial support of up to SR300,000 ($80,000) to real estate projects nominated by the ministry, in addition to training people to run real estate brokerage facilities.


Saudi Arabia executes 37 for terror links

Updated 23 April 2019
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Saudi Arabia executes 37 for terror links

RIYADH: Thirty-seven Saudis have been executed for links with terrorism, the Interior Ministry announced on Tuesday.

The executions were carried out in Riyadh, Makkah, Madinah, the Eastern Province, Qassim and Asir, the Saudi Press Agency (SPA) reported.

The 37 had created terror cells to “corrupt and disrupt security, spread chaos and provoke sectarian strife, as well as damage peace and social security,” the ministry said.

The ministry added that they had planned to bomb security headquarters and kill security personnel.