Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi: 700,000 administrative offices needed by 2019  Join our daily free Newsletter

MENAFN - Arab News - 16/02/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) The Kingdom will need an estimated 700,000 administrative offices over the next five years, 85 percent of them in major cities such as Riyadh, Jeddah, Makkah, Madinah and Dammam. The need for administrative offices is on the increase in light of plans for rapid economic growth in the coming years



According to statistics, the number of registered subscribers at the Jeddah Chamber of Commerce and Industry (JCCI) has grown from 47,000 to 75,000 over the past three years



These figures indicate that the city will need more office space for the large number of businesses and other establishments that will be launched in the city



Real estate investors are showing greater interest in office buildings, as profit margins for renting out such facilities are greater than for residential flats. Awad Al-Zahrani, deputy chairman and member of the Real Estate Appraisal Committee at the JCCI, said that demand for administrative offices in the country would grow at a rate of 15 percent to 20 percent



Factors that contribute to greater demand for administrative offices include the Kingdom's annual population growth rate, pegged at more than four percent. Around 70 percent of the Saudi population is under the age of 30, Al-Zahrani said



The Jeddah Municipality has stipulated that business activities not be practiced in residential or mixed-purpose buildings



Al-Zahrani, however, appealed to municipal authorities to relax this condition, at least for small and micro establishments, which mostly operate from buildings meant for residential use since they cannot meet the costs of operating from a commercial complex



He said that annual rents on Jeddah's major streets, including King's Road, Tahlia Street, or Madinah Road, range between SR500 to SR1,500 per square meter

 


Arab News




  MENA News Headlines
 Oct 31 2014 - MC4-1 Rambowleros Zuhair Fayez 1 rule 10th KAMC Friendship GamesArab News
(MENAFN - Arab News) In keeping with tradition the Employee Social Club and Recreation Services of King Abdulaziz Medical City-Jeddah Western Region held its 10th KAMC Friendship Bowling Games at ...

 Oct 31 2014 - Saudi- Guardians overcome Absar host team Maskan Arabia bounces backArab News
(MENAFN - Arab News) RIYADH: JOEY JULATON SALEMPowerhouse Guardians (Diablo) got the better of equally talented Absar team 108-104 in a high-scoring game during the second week of action in the 2nd ...

 Oct 31 2014 - Saudi- Majid rolls perfect 300 Gilas back-to-back Team of Week in FTBJ-ICBL eventArab News
(MENAFN - Arab News) For the second time in three weeks in leagues organized by Filipino Tenpin Bowlers of Jeddah perfect 300 game found a new owner in Majid Aslani.Following the lead of Randy Mata ...

 Oct 31 2014 - Saudi- Al Faisaliah captures Inter-Hotels crownArab News
(MENAFN - Arab News) Al Faisaliah coached by Francis Balanquit finished off Sheraton Riyadh Hotel & Towrs by winning Game 3 of the best-of-three championship series 75-72 in a pulsating contest ...

 Oct 31 2014 - Saudi- Lahore Lions win thriller against KFSHArab News
(MENAFN - Arab News) RIYADH: Lahore Lions scored a thrilling six-wicket win over King Faisal Specialist Hospital in a seventh round match of the American Express Twenty20 cricket tournament organized ...

 Oct 31 2014 - Saudi- Desert Warriors goes down fighting to ARM Afroz slams ton for TamerArab News
(MENAFN - Arab News) JEDDAH: Desert Warriors went down fighting to ARM by six runs in the Ace Travel Premier League division morning session week-seven match organized by the Jeddah Cricket ...

 Oct 31 2014 - Amman accuses Israel of 'state terrorism' in JerusalemArab News
(MENAFN - Arab News) AMMAN: Jordan on Thursday accused Israel of 'state terrorism' after it closed Jerusalem's flashpoint Al-Aqsa mosque compound the third holiest site in Islam.Israel said its ...

 Oct 31 2014 - Saudi- Most erring doctors have master's Ph.D. degreesArab News
(MENAFN - Arab News) A whopping 70 percent of medical practitioners who have committed medical errors over the last five years hold master's and doctoral degrees local media said quoting a report ...

 Oct 31 2014 - Saudi- Energy efficient appliances and insulated houses can save powerArab News
(MENAFN - Arab News) Uninsulated buildings cars and industrial activity consume 90 percent of the energy produced in Saudi Arabia an expert from the Saudi Energy Efficiency Center (SEEC) said ...

 Oct 31 2014 - Saudi- Conference encourages media voluntarismArab News
(MENAFN - Arab News) A media volunteer group held its second media volunteers conference on Wednesday night at the Dar Al-Uloom University's auditorium in the Saudi capital.'This conference aims to ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help