Month: November 2016

”The Ministry of Housing Sets Out Procedures for Exempting Projects from Multi-Story Building Requirements

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Reading time: < 1 MinuteThe Ministry of Housing has finalized the procedures for implementing the royal decree exempting housing-related projects from building requirements pertaining to the number of stories, setbacks, floor areas, and public services. In a statement carried by the Saudi Press Agency, the ministry explained that these procedures are intended to meet the needs of beneficiaries without compromising the security and safety requirements of these projects. The ministry noted that … Read more

”The Ministry of Housing Holds a Workshop to Train Engineering Firms on the Real Estate Unit Classification System

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Reading time: < 1 MinuteThe Ministry of Housing, in cooperation with the Saudi Council of Engineers, held workshops titled “Training Engineering Firms on the Real Estate Unit Classification System,” attended by engineering firms specializing in real estate unit classification and a number of real estate development companies, in Riyadh, Dammam, and Jeddah. The workshops included an explanation of the program’s rules and regulations, the registration process on the Owners’ Union website, and the oversight mechanisms in … Read more

23 indicators of money laundering in real estate

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Reading time: < 1 MinuteThe Ministry of Commerce and Investment announced that it has identified 23 indicators of unfair or suspicious transactions in the real estate market, including purchases or sales at prices that do not reflect the actual value, and repeated real estate purchases, as well as a customer paying a deposit in cash and then refusing to complete the purchase and requesting a refund via check. Engineer Muhammad Al-Daghim confirmed … Read more

Goal: Launching a program to develop the skills of 6,000 Saudi managers and executives

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Reading time: < 1 MinuteDr. Abdulkarim Al-Najidi announced that the Human Resources Development Fund (Hadaf) has launched the National Leadership Empowerment Program (iLead2), which aims to develop the managerial and leadership skills of 5,000 managers and 1,000 Saudi executives in the private sector and the non-governmental organization (NGO) sector over the next four years, through 2020.  Dr. Abdulkarim bin Hamad Al-Najidi, Director General of the Human Resources Development Fund (Hadaf), explained … Read more

Women's current account deposits at banks total approximately 130 billion

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Reading time: < 1 MinuteThe value of women’s demand deposits in the banking sector reached approximately 130 billion riyals, representing about 20% of total retail deposits. Talaat Hafez, Secretary-General of the Media and Banking Awareness Committee at Saudi Banks, revealed this information. Hafez stated that it is a banking error to refer to these deposited funds as “frozen” or “idle,” given that funds subject to freezing in accounts … Read more

“Albilad Diamond partner of the Saudi Finance and Installment Exhibition in Riyadh

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Reading time: < 1 MinuteAl-Bilad Bank continued its sponsorship of various events, participating as a Diamond Partner in the Saudi Finance and Installment Exhibition, held at the Riyadh Exhibition and Convention Center (Hall 4), which is taking place from November 13–15 of this year, from 4:00 p.m. to 10:00 p.m. in Riyadh for three days. Al-Bilad Bank is offering visitors to its distinctive booth at the exhibition grounds… Read more

Adoption of 1,087 regulations governing internal operations at private-sector facilities in the Kingdom

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Reading time: < 1 Minute  The Ministry of Labor and Social Development has approved 1,087 sets of work regulations for private-sector establishments since the ministry launched its online service for approving work regulations at private-sector establishments last Shawwal, It was noted that 1,039 of these regulations were approved electronically, while 48 were approved on paper. This was revealed by the Assistant Undersecretary for Inspection at the Ministry of Labor and Social Development… Read more

Minister of Labor: We are working to realize the vision of the Custodian of the Two Holy Mosques to promote joint Gulf action

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Reading time: < 1 Minute Dr. Mufarrij bin Saad Al-Haqbani, Minister of Labor and Social Development and Chair of the 33rd session of the Council of Ministers of Labor and the Council of Ministers of Social Affairs of the Gulf Cooperation Council (GCC) states, the importance of implementing the provisions of the Supreme Council’s resolution at its 36th session, held in Riyadh in December 2015, regarding the adoption of the vision of the Custodian of the Two Holy Mosques, King Salman … Read more

25 million meters of undeveloped land were registered last month

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Reading time: < 1 MinuteMohammed Al-Madiheim, General Supervisor of the Unregistered Land Program at the Ministry of Housing, revealed that over the past four weeks alone, unregistered land totaling more than 25 million square meters has been registered. In remarks to CNBC Arabia, Al-Madiheim explained that interest in registering for the White Land Program is on the rise, noting that today … Read more

During a meeting with the Minister of Finance and the Governor of the Saudi Arabian Monetary Authority, the Custodian of the Two Holy Mosques highlighted the Kingdom’s financial situation and its security and stability

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Reading time: < 1 Minute   The Custodian of the Two Holy Mosques, King Salman bin Abdulaziz,may God preserve him, the 52nd Annual Report of the Saudi Arabian Monetary Authority (SAMA) during a meeting yesterday with Minister of Finance Mr. Mohammed Al-Jadaan, SAMA Governor Dr. Ahmed Al-Khulaifi, and the deputy governors. The Custodian of the Two Holy Mosques highlighted the Kingdom’s financial situation, which is a result of the security and stability it enjoys, praise be to God. Al-Khulaifi emphasized that it is not … Read more

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