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Saudi Arabia

Saudi Arabia improves real estate transparency

Saudi Arabia improves real estate transparency

July 2016 JLL’s Global Real Estate Transparency Index ties transparency to real estate investment, business activity and living standards.       The Kingdom of Saudi Arabia (KSA) has moved up the rankings to finish in the ‘Semi-Transparent’ category for the first time in the JLL and LaSalle Investment Management’s 2016 Global Real Estate Transparency

KSA Government announces regulations for White land Tax

KSA Government announces regulations for White land Tax

The Council of Ministers met in Jeddah on 13 June 2016 and approved a number of regulations for the introduction of the White Land Tax, JLL reports.

JLL signs MoU with Saudi Chamber of Commerce to improve transparency

JLL signs MoU with Saudi Chamber of Commerce to improve transparency

JLL has signed a Memorandum of Understanding (MoU) with the Saudi Eastern Province Chamber of Commerce & Industry to improve transparency in the region’s residential, retail, office and hospitality real estate market.

KSA economic diversification strategy and impact on the real estate market

KSA economic diversification strategy and impact on the real estate market

The oil dependent economy of Saudi Arabia has announced its first back to back years of budget deficit since 2002. The deficit recorded in 2015 and projected for 2016 is due to the record decline in oil revenues which was not entirely off-set by increasing non-oil revenues, according to JLL KSA.

Emaar Hospitality Group marks expansion with 35 new hotels & serviced residences

Emaar Hospitality Group marks expansion with 35 new hotels & serviced residences

Emaar Hospitality Group, the hospitality and leisure subsidiary of global developer Emaar Properties, announced its expansion plan, highlighted by 35 new hotels and serviced residences to open under its three flagship brands – The Address Hotels + Resorts, Vida Hotels and Resorts and Rove Hotels – in Dubai, the UAE and key international markets.