Month: October 2016

U.S. pending home sales index rises

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Reading time: < 1 MinuteThe latest data released by the National Association of Realtors in the United States revealed that the Pending Home Sales Index in the United States rose by 1.5% over the past two months to 110, driven by increased demand in the western and southern regions. On a year-over-year basis, the index rose by 2.4% compared to the same period in 2015, and the monthly reading exceeded analysts’ expectations with an increase of … Read more

Saudi Housing Finance Company (Sahl) provides 300 school bags for Insan orphans

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installations

Reading time: < 1 MinuteThe Saudi Housing Finance Company (Sahl) signed a contract to provide 300 school kits to orphans at the (Insan). Such programs and activities are an extension of the company’s long track record of participation and involvement in various events focused on social responsibility, sustainable community development, and charitable work… For his part, Mr. Abdul-Ilah Al-Sheikh, CEO of the Saudi Housing Finance Company (… Read more

Appraisers Authority conducts studies to update the minimum real estate valuation threshold

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Reading time: < 1 MinuteThe Saudi Authority for Certified Appraisers is currently conducting a study to determine the minimum threshold for real estate appraisals by its certified appraisers. This was explained by Eng. Sultan Al-Jreis, Deputy Secretary-General of the Saudi Authority for Certified Appraisers for Shared Services. The number of appraisers in the real estate branch accredited by the Authority stands at 900 members, all of whom have completed a comprehensive training program, and have successfully completed many of its advanced stages. … Read more

Ministry of Housing holds a specialized introductory workshop to discuss the draft property leasing system and its enforcement mechanism

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Reading time: < 1 Minute As part of its efforts to promote a culture of understanding and utilizing the real estate and rental system, the Ministry of Housing held, at its headquarters in Riyadh, a workshop to discuss the draft real estate leasing system, with the participation of a number of experts and interested parties, including academics, real estate professionals, and legal experts. At the start of the workshop, the General Supervisor of Rental Sector Regulation at the Ministry of Housing, Engineer Muhammad bin Saleh Al-Bati, expressed his thanks and appreciation to the attendees … Read more

“Ministry of Commerce's ”Real Estate Contributions" announces the qualification of real estate companies and law firms

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Ministry of Industry and Investment - Shops - Licenses

Reading time: < 1 MinuteThe Real Estate Contributions Committee at the Ministry of Commerce and Investment called on real estate companies specializing in land marketing and auctions, as well as law firms in the Kingdom, to submit a signed letter from the business owner specifying contact information, either by visiting the committee’s headquarters or via email. The committee requires real estate marketing companies to have a valid commercial registration and experience in the field of … Read more

List of white landowners who are late in registering for the fees program

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Residential plot

Reading time: < 1 MinuteThe Ministry of Housing is currently compiling a special list of the names of owners of unregistered land who have failed to register their properties under the Unregistered Land Fees Program during the designated period, which ends on the 13th of Rabi’ al-Awwal next year, in order to notify them of the violations they have incurred. Well-informed sources explained that a number of unregistered plots targeted by the program have not yet been registered, despite the passage of … Read more

Registration of (5) federations with 654 housing units in the “Owners” Union" program”

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Reading time: < 1 MinuteSince its launch about two months ago, the «Landlords» Union« program has registered (5) unions, comprising 654 residential units—including villas and apartments—spread across the cities of Riyadh and Jeddah. Engineer Muhammad bin Muammar, General Supervisor of the »Homeowners’ Association” program at the Ministry of Housing, explained that the ministry has taken all necessary measures with the registered associations, noting that … Read more

Custodian of the Two Holy Mosques: Saudi Arabia is undergoing a historic transformation through Vision 2030 to build a strong and robust economy

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Reading time: < 1 MinuteThe Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud—may God protect him—affirmed that the Kingdom of Saudi Arabia is undergoing a historic transformation through its Vision 2030 and the associated programs and initiatives for national transformation aimed at building a strong and resilient economy based oncompetitiveness and the diversification of the pillars of the national economy. He said, may God protect him: «This goal requires sincere efforts and clear visions … Read more

Registration of 654 housing units in the “Owners Union” program, including Riyadh and Jeddah

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Reading time: < 1 MinuteThe Ministry of Housing revealed that the number of registrants in the “Landlords” Union“ program has reached 5 unions, comprising 654 residential units—including villas and apartments—since its launch about two months ago, with these units distributed across the cities of Riyadh and Jeddah. Engineer Muhammad bin Muammar, General Supervisor of the ”Homeowners’ Association” program at the Ministry of Housing, explained that the ministry has taken all necessary measures with the registered associations, … Read more

Real Estate Contributions Committee sells Al-Ahsa Jewel for SAR 72 million

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Reading time: < 1 Minute  The public auction organized by the Real Estate Contributions Committee of the Ministry of Commerce and Investment to sell the Al-Ahsa Jewel plot—part of the Qatar Road land contribution—achieved prices the committee described as “good,” with a total value of 72 million riyals. The Al-Ahsa Jewel land is located on Al-Khaleej Road (Qatar Road) across from King Faisal University and covers an area of 2 million square meters. The Real Estate Contributions Committee had announced … Read more

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