Saudi Arabia’s KAEC continues its innovative efforts to provide real estate ownership

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Updated 20 June 2020

Saudi Arabia’s KAEC continues its innovative efforts to provide real estate ownership

JEDDAH: King Abdullah Economic City (KAEC) is continuing its efforts to provide real estate ownership, the Saudi Press Agency reported. 

Its initiatives include launching financing solutions to attract customers and helping those in the government, military and private sector who wish to benefit from housing offers in the economic city in line with the Kingdom’s Vision 2030 reform plan.

The KAEC provides its services to those wanting to take advantage of housing offers and purchase ready-made or under-construction units in its residential neighborhoods, while also providing opportunities for families and individuals seeking to invest or own housing units to raise the percentage of Saudi citizens’ ownership.

In terms of offering suitable financing programs the KAEC has signed a cooperation agreement with the Banque Saudi Fransi to put forward financing options that are compatible with the provisions of Islamic Shariah for clients. The KAEC enables recipients of support from the Ministry of Housing and the Real Estate Development Fund to benefit from such options.

KAEC CEO, Ahmed Linjawi, said that the different residential neighborhoods in the city were designed to meet all the requirements of family life as well as those looking to live a distinctive lifestyle. 

He emphasized the KAEC’s keenness to provide housing solutions that suited all income levels and that were accessible to all Saudis. Its efforts were in cooperation with the public and private sectors, he added. 

The managing director and CEO of Banque Saudi Fransi, Rayan Fayez, said that cooperation and partnership building with the KAEC meant there were innovative and affordable financing solutions for people wishing to own housing units within KAEC.

The Kingdom’s goal is to raise household ownership in the country to 70 percent of the population by 2030.


Dr. Kholood Mohamed, head of Tabuk’s regional council

Updated 12 August 2020

Dr. Kholood Mohamed, head of Tabuk’s regional council

Dr. Kholood Mohamed has become the first woman in the Kingdom to head Tabuk’s regional council, with the Saudi interior minister approving her appointment as the body’s secretary-general.
Al-Khamis called on Tabuk Gov. Prince Fahd bin Sultan on Monday and the prince congratulated her on her new position, emphasizing the role of Saudi women in government agencies.
She is an assistant professor of inorganic chemistry and supervisor of the chemistry department at the University of Tabuk.
She joined the university in 2010 as a teaching assistant in the science faculty, later becoming a lecturer and then being promoted to associate professor.
She did her doctorate in inorganic chemistry from Howard University in the US in 2018. She obtained her master’s degree from King Saud University in Riyadh and her bachelor’s degree from the University of Tabuk.
Al-Khamis is a member of several scientific bodies such as the Supreme Committee of Prince Fahd bin Sultan Award for Scientific Excellence, American Chemical Society, and the Committee for the National Olympiad for Scientific Creativity.
She has presented many research studies during her career, and participated locally and abroad in specialist activities in the science field.