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

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.


Riyadh Season Boulevard zone opens with spectacular parade

Updated 18 October 2019

Riyadh Season Boulevard zone opens with spectacular parade

  • The Riyadh parade is thought to be the biggest parade in Kingdom to date

RIYADH: More than 1,500 performers and 25 floats took part in a parade and carnival on Thursday night that officially launched Riyadh Season’s Boulevard zone. The crowds that gathered for the fun-packed event were also treated to motorcycle displays, fireworks and other surprises.

The Boulevard lit up at 9 p.m. for the start of the 90-minute event, which featured some of the international artists who will perform as part of Riyadh Season. Afterwards, the zone’s food and drink outlets, outdoor cinema and fountain shows officially opened.

The audience watched the parade, performances and displays from specially constructed stands. Food trucks offered a selection of tasty snacks, and organizers also provided prayer rooms, toilets, first-aid stations and other facilities.



In addition to the opening-night festivities, the Boulevard zone, which covers 400,000 square meters, will host a wide range of entertainment options and activities for all ages, including the outdoor cinema, restaurants, and sports, music and theatrical events. It has three main venues: The 22,000-seat Mohammed Abdu Theater, the 6,000-seat Abu Bakr Salem Theater, and the 2,000-seat Baker Al-Sheddi Theater.

The parade is just one of more than 100 events featuring local, regional and international performers taking place during the Riyadh Season festival, which continues until mid-December at 12 zones across the city: the Boulevard; the Front; Riyadh Car Show; Winter Wonderland; Riyadh Stadiums; the Diplomatic Quarter; Al-Muraba’a; Al-Malaz; Wadi Namar; Nabd Al-Riyadh; Riyadh Safari; and Riyadh Sahara. It has been organized with the support of Turki Al-Sheikh, chairman of the General Entertainment Authority and president of Riyadh Season.

The audience watched the parade from specially built stands. (Supplied)

 

The ambitious 2019 Saudi Seasons initiative, the first of its kind in the region, was launched in February and includes 11 local seasons covering most parts of the Kingdom. Designed to promote the fledgling Saudi entertainment sector and boost tourism, it is attracting some of the biggest names in world entertainment.

The Riyadh parade is thought to be the biggest parade in Kingdom to date. It follows a folklore parade at the Mawtni (My Nation) cultural event in Yanbu to mark Saudi National Day this year, and a parade during the Jeddah Season festivities in the city’s Obhur district.