RIYADH: The Saudi real estate market has marked a sharp drop of 58.6 percent, its lowest record in the housing sector in 2016. It is the result of a significant drop of 56.7 percent in the total weekly sales settling at SR1.9 billion, the lowest weekly level in a decade.
Real estate experts said this drop in sales is caused by the low demand that followed the implementation of the so-called white land fees regulation, which pushed people who want to buy properties to wait for a real decline in prices.
Hamad Al-Dossary, owner of Giant Construction for real estate, said the market’s performance is still weak, and is unable to raise sales and control the drop in demand, as a result of the fees.
Al-Dossary noted that the low-valued sales explain the rigidity of the real estate market, saying this problem can be solved only if traders reduced prices to levels that allow people to buy properties, because the persistence of this condition harms all sides. The investor needs liquidity and the buyer seeks ownership and stability.
Real estate expert Abdullah Al-Mheisen said the current year has witnessed a remarkable decline in prices, which means that the market is on the right path.
Ali Al-Tamimi, CEO of Jabrah Real Estate Company, said the government’s announcement over the availability of 100,000 residential units, which are ready to be delivered, brings strong competitiveness to the commercial sector that should reconsider its projects and strategies, and to work on building units with affordable prices, noting that the government’s launch of similar projects is considered a means of pressure on the private sector.
Al-Tamimi added that the national real estate market cannot endure more decline in its activity. “It will move toward rigidity if the gap between prices and buyer capacity persists.”
White land fee hits real estate mkt
White land fee hits real estate mkt
Saudi Arabia appoints Japan envoy as commissioner for pavilion at Expo 2025 Osaka
- Kingdom’s Dr. Ghazi Binzagr takes on new duties for global exhibition which opens in April
TOKYO: Saudi Arabia’s Ambassador to Japan Dr. Ghazi Binzagr has been appointed the general commissioner for the Kingdom’s pavilion at Expo 2025 Osaka.
The announcement comes as construction on the pavilion enters its final stages in preparation for the Kingdom’s participation in the global exhibition, set to start in April.
Binzagr, who has been ambassador since 2024, will continue his current duties alongside his new responsibilities as the general commissioner, the Saudi Press Agency reported on Wednesday.
He has also served as a member of the Shoura Council for three terms and previously held the position of deputy chairman of the Foreign Affairs Committee from 2023 to 2024.
As ambassador, Binzagr oversees initiatives to boost relations between Saudi Arabia and Japan.
He also recently contributed to the Saudi-Japanese Business Forum and has been actively engaged in collaborative initiatives in key areas including energy security, technology, trade and investment.
The Kingdom’s pavilion at Expo 2025 Osaka embodies its commitment to international efforts for sustainable human development.
In February of last year, Saudi Arabia was among the first nations to begin constructing their pavilions at the Expo 2025 Osaka site.
The design reflects the Kingdom’s history, culture and current economic transformation, the SPA reported.
Thriving lavender in Saudi’s Northern Borders has environmental benefits
- The plant has been observed to grow on the edge of the Nafud Desert, an indication that it could be propagated to fight desertification, says environmentalist
ARAR: The Northern Borders region of Saudi Arabia, spanning approximately 104,000 sq. km, boasts an aromatic, seasonal and annual plant biodiversity, with lavender emerging as a prominent species.
These plants play a crucial role in sustainable development, combating desertification, increasing vegetation cover, stabilizing soil, and fostering ecotourism, the Saudi Press Agency reported recently.
Lavender, characterized by its fragrant scent and vibrant purple hue, has been observed on the edge of the Nafud Desert, signaling its potential expansion throughout the region.
This emergence highlights the region’s ecological significance and capacity to support diverse plant life.
Nasser Al-Majlad, head of the Aman Environmental Association, told SPA that the lavender species is Horwoodia dicksoniae.
This annual herbaceous plant features branching stems, typically reaching about 30 centimeters in height, and large, lobed leaves. Its dark lilac flowers, gathered in spike inflorescences, release a distinctive fragrance.
The plant thrives in shallow sandy loam and is valued for its ornamental qualities, making it suitable for cultivation in both homes and gardens. Its smooth brown seeds further contribute to its propagation.
Al-Majlad emphasized the positive impact of nature reserves and the Saudi Green Initiative on the region’s ecology.
These initiatives have facilitated afforestation, land reclamation, and the protection of wild areas, contributing to the resurgence of numerous trees and plants, including lavender, within the environmental landscape, he added.
Saudi crown prince, French president discuss bilateral relations, regional developments
RIYADH: Saudi Arabia’s Crown Prince Mohammed bin Salman received a call from French President Emmanuel Macron, the Saudi Press Agency said.
The pair also reviewed bilateral relations and cooperation, as well as the latest regional and international developments.
Madinah deputy governor receives Indian minister
Madinah Region Deputy Gov. Prince Saud bin Khalid bin Faisal recently met Indian Union Minister for Minority Affairs and Parliamentary Affairs Shri Kiren Rijiju during his official visit to the Kingdom.
During the meeting, the two sides discussed arrangements for Indian Hajj pilgrims during their stay in Madinah, India’s Ministry of Minority Affairs said in an official statement.
Rijiju also visited the Hajj Terminals at the Jeddah and Madinah airports, and reviewed the facilities available for the arrival and departure of pilgrims as well as baggage handling.
International conference celebrates the camel as a pillar of Arab culture
- Scholars highlight the camel’s role in Arab history and the Arabic language
- Experts from Saudi Arabia and abroad gather in Riyadh
RIYADH: Scholars at a Riyadh conference this week underscored the fundamental role the camel has played in shaping Arab heritage, emphasizing the profound link between camels and the Arabic language.
King Saud University, in partnership with the King Salman Global Academy for Arabic Language, is hosting the Fifth International Conference, titled “Camels in Arab Culture,” which ends on Thursday.
Prominent scholars and specialists from Saudi Arabia and abroad are participating in the conference, which is exploring key topics related to camels, including heritage, history and geography, and archaeological findings.
Hajed Al-Harbi, conference chairman, said: “Honoring camels is a tribute to our deep-rooted values and rich heritage, reflecting our pride in our origins and historical legacy.”
Ibrahim Al-Furaih, conference secretary, told Arab News how the conference underscores the central role camels have played in shaping Arabic literature and intellectual thought throughout history.
“Camels are a fundamental element of our national identity and Arab culture, with a significant presence in our heritage.
“Whether through literature, poetry, inscriptions, or the daily life of early Arabs, they have left an indelible mark. Their influence endures, continuing to shape the lives of Arabs to this day,” Al-Furaih said.
Bedoor Al-Fassam, chair of the public relations committee for the conference, said organizers spent months preparing for the event.
Dr. Al-Fassam, who is also an assistant professor of literature and criticism in the Arabic language department at the university, confirmed that conference participation requests exceeded 300, from which 40 research papers were selected. The submitted papers covered a wide range of fields, including literary, linguistic, historical, and social studies, in addition to anthropology research.
Alongside participants from Saudi universities, the conference features academics from Kuwait, Qatar, Oman, Syria, Lebanon, Egypt, Algeria, Morocco and Canada.
The attendees discussed the definition of camels in language and lexicography, as well as their effect on cultural and national identity.
Additionally, they explored the role of camels in Arabic poetry, narrative storytelling and biographies, highlighting their significance in other literatures and cultures.
The conference further delved into the role of camels in the national economy, addressing sectors such as investment, tourism, and entertainment, in addition to camel festivals, sports and racing events.
