Month: November 2016

Banque Saudi Fransi sponsors Saudi Trade Finance Summit

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Reading time: < 1 Minute  As part of its ongoing support for various activities and events, Banque Saudi Franse will sponsor the Saudi Trade Finance Summit for the third time. The summit is considered the most important and influential event for decision-makers and senior executives in the Kingdom’s trade finance sector. It will be held at the Meridien Hotel in Jeddah on November 15–16, 2016. Banque Saudi Fransi is at the forefront of supporting these efforts… Read more

With the participation of the Ministers of Commerce and Housing, Taqeem organizes a conference on the reality and future of the real estate valuation profession in the Kingdom

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Reading time: < 1 Minute  The Saudi Authority for Accredited Appraisers (TAQEEM) is organizing a conference titled “The Present and Future of the Real Estate Appraisal Profession in the Kingdom” on Wednesday and Thursday, 9–10/2/1438 AH, corresponding to 9– 10 November 2016 at the Ritz-Carlton Hotel in Riyadh, under the patronage of Dr. Majid Al-Qasabi, Minister of Commerce and Investment, and Mr. Majid Al-Hogail, Minister of Housing. The Secretary-General of the Saudi Authority for Certified Appraisers explained … Read more

The Economic Council decides: Settle private sector dues to the state treasury before 2016

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Reading time: < 1 MinuteDuring its meeting yesterday at Al-Yamamah Palace in Riyadh, chaired by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Deputy Crown Prince, Second Deputy Prime Minister, Minister of Defense, and Chairman of the Council of Economic and Development Affairs, the Council of Economic and Development Affairs adopted a package of solutions and measures to settle the private sector’s receivables from the state treasury, the settlement of which has been delayed in … Read more

New adjustment in the size of small enterprises in the Nitaqat program

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Reading time: < 1 Minute  The Minister of Labor and Social Development, Dr. Mufarrij Al-Haqbani, approved a new amendment to the size categories for very small businesses under the «Nitaqat» Business Incentive Program for Job Nationalization “Nitaqat,” based on the number of employees, expanding the range from one to five employees and changing the designation from “very small” to “small, Category A.” The decision also stipulates adjusting the size classification of small enterprises according to the number of employees … Read more

Real Estate Contributions Committee closes Half Moon Beach file“

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Reading time: < 1 MinuteYesterday, the Real Estate Contribution Committee at the Ministry of Commerce and Investment successfully resolved the impasse surrounding the Half Moon Beach contribution, which the committee had put up for direct sale; the deadline for submitting purchase offers for the contribution plots was 30/01/1438 AH.  The sale took place at the committee’s headquarters in the presence of members of the sales committee and all those who submitted purchase offers, with prices for the lots ranging from 50 riyals … Read more

Adoption of fees regulations. New Municipal and Rural Services

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Reading time: < 1 MinuteAbdul Latif Al Sheikh, Minister of Municipal and Rural Affairs, approved the schedule of fees for municipal services provided by municipal authorities and municipalities. This schedule was adopted based on studies and takes into account regional variations by city, province, and district. The Kingdom’s municipal authorities and municipalities have been classified into five categories, and according to this classification, municipal service fees will be applied in accordance with the new regulations, taking into account … Read more

Signing of the Contract for the Design of Saad Al-Abdullah City in Kuwait… February 1

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Reading time: < 1 MinuteSources at the Public Authority for Housing Welfare have reported that the contract for the design of the South Saad Al-Abdullah and Al-Matrouh area, which is currently in South Korea, is set to be signed on February 1, It is expected that, following the incorporation of land acquired from the municipal council, the area will include approximately 30,000 housing units once the obstacles are removed by the end of 2017, as anticipated, … Read more

Fines for Failure to Register Unregistered Land Will Take Effect Starting on the 13th of Rabi' al-Awwal

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Reading time: 2 Minutes     The Ministry of Housing has urged owners of land subject to the “white land” fee system—which falls within the scope defined by the Ministry and has an area of 10,000 meters or more— and that have not been developed, to promptly register their land via the website (Lands.housing.sa) during the current registration period, which ends on the 13th of Rabi’ al-Awwal, in order to avoid fines for non-registration, which will take effect after the end of … Read more

“Lahbadan” Elected Chair of the Riyadh Chamber of Commerce Contractors Committee; Al-Azzawi Elected Vice Chair

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Reading time: < 1 MinuteDuring its current 17th session, the Contractors Committee of the Riyadh Chamber of Commerce, at its meeting yesterday evening, unanimously elected Engineer Saleh bin Habdan Al-Habdan as committee chair and Engineer Muhannad bin Qusay Al-Azzawi as vice chair. For his part, Al-Habdan affirmed following his election that the committee will make every effort to serve the construction sector, strengthen its role in economic development, overcome the obstacles it faces, and redouble its efforts … Read more

Deyaar expands into real estate management in the Northern Emirates

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Reading time: < 1 MinuteDiyar Development is preparing to expand in the “property management” sector—its core business—by increasing its real estate portfolio by approximately 10 % in the Northern Emirates, particularly Ras Al Khaimah and Fujairah.  Ahmed Al Suwaidi, Head of Business Development, Leasing, and Landlord Relations at the company, explained that “Diyar Property Management,” a subsidiary of “Diyar Development,” manages a broad portfolio of projects, including more than 17 … Read more

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