هذا المبني ليس بعيدا,انه قريب. this building isn't far,it's near. لن اذهب بعيدا I'll not go far away!

Hello, It could refer to being 'near' or 'far' in place or time. Flora mentioned examples indicating the place. As for the 'time': في المدي القريب on the short run في المدي البعيد on the long run عيد ميلاده قريب His Birthday is near. In certain expressions the words could take some other meanings as in: قريب المنال possible to get بعيد المنال far fetched عن قريب soon You better check in a dictionary to further explore the various usages of those words in different contexts.