Month: June 2016

Ministry of Housing launches 11 indicators to achieve its three strategic goals in the National Transformation

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Reading time: 2 MinutesThe initiatives presented by the Ministry of Housing within the National Transformation Programs included the launch of 11 indicators to achieve the ministry's goals, which are represented in three strategic axes in front of the Ministry of Housing, the first of which is to improve the performance of the real estate sector and raise its contribution to GDP, the second is to stimulate the real estate supply and raise productivity to provide housing products at the right price and quality, and the third is to enable citizens to obtain financing ... Read more

Amir of Qassim announces the establishment of a charitable housing association and hands over 20 housing units in Abanat center

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Reading time: 2 MinutesHis Royal Highness Prince Dr. Faisal bin Meshal bin Saud bin Abdulaziz, Emir of Qassim Region, yesterday evening handed over 20 housing units as the first phase of the charitable housing project adopted by His Royal Highness in Abanat Center (Dlea Rashid) of Al Nabhaniya Governorate in Qassim, accompanied by His Royal Highness Prince Sultan bin Faisal bin Meshal ... Read more

A website to advertise white land. Implementation as soon as the regulation is approved by the Council of Ministers

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Reading time: < 1 MinuteThe official account of the white land fees system published on Friday that a website for white lands will be launched in cooperation with the Ministry of Justice, the Ministry of Commerce and Investment, and the National Information Center of the Ministry of Interior, where every owner of land included in the application of fees must enter the website after the announcement and register his land within a period not exceeding 6 months from the announcement, ... Read more

Real Estate Contributions sets July 20 deadline to receive offers for the sale of the Shalala land plan

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Reading time: < 1 Minute The Real Estate Contributions Committee at the Ministry of Commerce and Investment has set Wednesday 15/10/1437 AH corresponding to 20/07/2016 AD as the deadline for receiving offers for lands in the Shalala plan in Riyadh for direct sale. The committee explained that the prices of the offered lands range from 900 to 1150 riyals per meter and are located along the Medina Road, close to one of the metro stations, and the location ... Read more

The real estate index continues to decline The value of transactions last Rajab is 22.4 billion riyals

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Reading time: < 1 MinuteThe Ministry of Justice index revealed that the month of Rajab was the lowest in the volume of transactions in value, area and number of transactions compared to the rest of the months of this year, except for the month of Jumada II, which showed that Rajab was better than it in the total value of transactions, reaching 22.4 billion riyals compared to 21 billion riyals for the month of Jumada II 1436H. ... Read more

Housing Ministry to announce final rules for white land fees in two weeks

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Reading time: < 1 MinuteThe Kingdom will announce within two weeks the final rules for annual fees on undeveloped land located within the urban area of cities, Housing Minister Majid al-Hogail said on Wednesday. He also announced plans to issue sukuk for the Real Estate Development Fund and the timeframe for issuing sukuk will be the end of 2017-2018. “The land fees are now complete and have been studied by all specialized authorities," Al-Huqail said at a press conference ... Read more

Minister of Housing: The state seeks to provide a variety of housing products at a cost of no more than 30% of per capita income

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Reading time: < 1 MinuteMinister of Housing Majid Al-Hogail reiterated that the Ministry of Housing is concerned with three main axes: He explained that these elements must be completed, and there should be no imbalance in them to provide the required housing unit and noted that the Kingdom seeks to provide various housing products that meet all income levels of individuals, so that the housing units are diverse and proportional to the level of ... Read more

Minister of Housing: National Transformation Initiatives Encourage Development on Private Sector Land and Raise the Efficiency of the Real Estate Market

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Reading time: 3 MinutesDuring the press conference held by the Ministers of Housing, Health and Education to explain their programs for the National Transformation, Minister of Housing Majid Al-Hogail said that the ministry has shifted from being an implementer and developer to a regulator, monitor and catalyst for the housing sector, noting that it worked on a study of the reality of the housing market in the Kingdom and its requirements that contribute to its development and upgrade, and identify the ... Read more

Ministry of Housing initiatives. Land tax adds costs to housing products and discourages investment in the real estate sector

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Reading time: 2 MinutesA number of real estate specialists expressed their reservations about some of the initiatives presented by the Ministry of Housing within the National Transformation Programs, which included 21 initiatives at a total cost of 59.2 billion riyals, because they conflict with the growth and development of the movement and the growth of the real estate market. The real estate sector's contribution to the GDP and the effectiveness of the program's plan ... Read more

Zamil calls on ministers of finance, trade and planning to disburse contractors' financial dues

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Reading time: < 1 Minute  Dr. Abdulrahman bin Abdullah Al-Zamil, President of the Council of Saudi Chambers, warned of the financial difficulties suffered by contracting companies and institutions in various regions of the Kingdom implementing government projects that delayed the payment of their financial dues during the past period, which exceeded nine months, which caused a deficit in many of them that prevented them from fulfilling their contractual obligations represented in the salaries of workers ... Read more

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