Month: June 2016

Land Fees Program Supervisor: The decision is binding as soon as the invoice is issued. Failure to pay may suspend the landowner's services

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Reading time: < 1 MinuteEngineer Mohammed bin Ahmed Al-Madihim, General Supervisor of the White Land Fees Program at the Ministry of Housing and Advisor to the Minister, revealed during his answer to journalists' questions at the enlightening meeting organized by the Riyadh Chamber that the price value that will be applied to the lands to which the fees apply will be based on their value and not their market price, indicating that the evaluation ... Read more

At a cost of 7 billion riyals. Avenues Complex is an architectural masterpiece shaping Riyadh's architectural future

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Reading time: < 1 MinuteAt a cost of SAR 7 billion, a rental area of 400 thousand square meters and a total construction area of more than 1.7 million square meters, the Avenues complex shines as the largest commercial complex in the Middle East. The complex is located on King Salman Road and King Fahd Road, and extends on an area of 390 thousand square meters, and is connected to the Riyadh Metro via the blue track, which will gain it ... Read more

Buying Al-Mughtara Farm in Diriyah... Sovereign wealth fund closes largest real estate deal worth 4 billion riyals

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Reading time: < 1 Minute  A sovereign government fund has succeeded in making the largest real estate deal recorded in the Kingdom, as informed newspaper sources confirmed that the government fund bought the farm of King Khalid's heirs in Diriyah, which bears the name Al-Mughtarah, and the sources indicate that some arrangements are currently being made to finalize the deal, and the sources indicate that some arrangements are currently being made to finalize the deal. According to follow-ups, the area of the farm, which was signed in ... Read more

Land Fees Program Supervisor at Riyadh Chamber: Raw land cannot be subdivided except by development

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Reading time: < 1 MinuteEngineer Mohammed Al-Madihim, General Supervisor of the White Land Fees Program at the Ministry of Housing, confirmed during his response to journalists' inquiries about how to determine the status of developed lands in the introductory meeting organized by the Riyadh Chamber that the developed land is the one for which a final plan has been extracted from the competent authorities, stressing that it is not entitled to divide the raw land only after ... Read more

The government is negotiating with an American company to develop six theme parks in Saudi Arabia

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Reading time: < 1 MinuteThe competent government agencies began negotiations yesterday with the American company Six Flags to develop six amusement parks in the Kingdom under the company's brand, according to the company's Twitter account. The company indicated in its Twitter account that these negotiations come after the meetings held by the Deputy Crown Prince Mohammed bin Salman, who ... Read more

Nujoom Al Salam Holding Company and Range Real Estate organize an Iftar party for their employees at Al Rimal Rest House

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Reading time: < 1 MinuteNujoom Al Salam Holding Company (Nujoom Al Salam Holding Company) and Mudawan Real Estate Company (a subsidiary of Nujoom Al Salam Holding Company) organized the annual Ramadan Iftar ceremony for their employees at the Rimal Rest House in Riyadh - one of Nujoom Al Salam Holding Company's investments - last Friday. Dr. Jarallah bin Abdullah Al-Oudaib, Executive Vice President, Abdullah bin Jarallah Al-Oudaib and employees of the two companies in a Ramadan and spiritual atmosphere, ... Read more

Significant financial penalties and revocation of licenses for real estate offices that violate the Cabinet's decisions to register contracts electronically

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Reading time: 2 MinutesThe Council of Ministers, in its mid-week session, after reviewing the rules for resolving cases of absent or absconding tenants with outstanding rents and leaving the leased property unlocked, issued a number of arrangements, including: 1- Licensed real estate brokers are required to register all residential and commercial rental contracts electronically through the electronic network - corresponding to ... Read more

Ministry of Housing launches three initiatives to incentivize and facilitate real estate development and sale of raw land

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Reading time: 2 MinutesThe Ministry of Housing's General Supervisor of the White Land Fees Program, Engineer Mohammed bin Ahmed Al Madhiem, revealed three initiatives of the ministry to develop the white lands covered by the new system, namely: gathering all government agencies related to development under one roof to facilitate procedures and provide the opportunity to sell on the map for raw lands, and the Wafi initiative to facilitate the development process, ... Read more

Ministry of Commerce and Investment launches # Partners_2030 initiative in partnership with the private sector to increase GDP to 65%

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Reading time: < 1 MinuteThe Ministry of Commerce and Investment believes in the importance of strengthening partnership with other sectors, and launched the # Partners_2030 initiative in partnership with the private sector and businessmen in the Kingdom, with the aim of sharing opinions and proposals on the challenges facing the commercial and investment environment in the Kingdom and for the private sector to be a partner in the growth of the local economy and a contributor to providing an attractive and stimulating investment environment, and supporting localization programs and ways to ... Read more

The Saudi Investment Bank signs partnership agreement with Booking.com for hotel bookings across 950 accommodations

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Reading time: < 1 MinuteThe Saudi Investment Bank (SAIB) has announced the signing of a partnership agreement with Booking.com, enabling members of the WOW loyalty program to earn five points for every Riyal paid through the Bank's cards when booking on the popular website, which has more than 950,000 accommodations worldwide, in addition to earning WOW points ... Read more

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