Month: February 2017

Real estate expert Mohammed Al-Babtain: Rehabilitation of real estate cadres led to the exit of manipulators from the market

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Reading time: < 1 MinuteMohammed Al-Babtain, General Manager of Al-Babtain Real Estate Company, emphasized the importance of real estate appraisal given its significant role in the real estate market, noting that the appraisal process should only be conducted by competent, responsible entities with expertise and knowledge of the real estate market. Al-Babtain emphasized that a real estate appraiser must possess a number of qualities, the most important of which are integrity, honesty, responsibility, expertise, and experience… Read more

The value of real estate transactions decreased during the second spring 53% due to the impact of positive decisions and new regulations

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Riyadh city

Reading time: < 1 Minute  Real estate transactions during Rabi' al-Thani 1438 AH fell to 17.2 billion riyals, a decline of 53.1% compared to the same month last year, while the report noted that the value of real estate transactions since the beginning of 1438 AH has decreased by 34.1% to reach 76.7 billion riyals, compared to approximately 116.9 billion riyals during the same period last year. … Read more

GSO: Implementation of the building code increases the quality of the housing product 100 %

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Reading time: < 1 MinuteNabil bin Amin Mulla, Secretary-General of the Gulf Standardization Organization, confirmed that the Gulf Cooperation Council (GCC) countries, including the Kingdom of Saudi Arabia, will issue this year the «Gulf Building Code,» which will be mandatory for all government and private entities starting in 2020 as a requirement for urban development and housing construction, thereby improving the quality and safety of housing by 100%… Read more

Abdullah Al-Huweish: The establishment of the General Real Estate Authority will organize scattered real estate records and help resolve housing problems

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Reading time: 2 MinutesA number of businesspeople and stakeholders in the real estate sector expressed their satisfaction and optimism regarding the establishment of the General Real Estate Authority, which was approved by the Council of Ministers following extensive studies and efforts, as well as support from the Ministry of Housing, the Council for Economic Development, and the Council of Chambers of Commerce—represented by the Real Estate Committee and the Committee of . Supervision by a single entity from start to finish. In this regard, Abdullah bin … Read more

Ministry of Commerce gives commercial registers an identity starting with the number “700” to link them electronically

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Reading time: < 1 MinuteMinister of Commerce and Investment Majid Al-Qasabi announced that the ministry will assign commercial registries a legal identity through a unified identification number “700” that electronically links them with government agencies, with the aim of improving the investment environment and enhancing competitiveness. In addition, the minister announced that he had issued a decision to abolish the “company seal,” meaning it will no longer be required for the notarization and authentication of corporate documents, and he highlighted the ministry’s latest measure to regulate contracts … Read more

The Ministry of Housing Announces Four Requirements for Real Estate Brokerage Firms to Join the «Ijar» Program»

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Reading time: 2 MinutesThe Ministry of Housing announced the opening of registration for real estate brokerage establishments and specifying the requirements that must be met for the establishment to be able to complete registration in the electronic network for rental services, and the Ministry, represented by the “Ejar” program, adopted four requirements for real estate brokerage establishments to join the “Ejar” program, foremost of which is that the real estate broker must be Saudi nationality, and that the real estate brokerage establishment holds a valid commercial registration ... Read more

35 local and international organizations participate in the Travel and Tourism Industry Leaders Forum in Riyadh Wednesday

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Reading time: < 1 MinuteWith international and local participation from 35 organizations, a large group of industry experts, representatives from travel and tourism agencies, and interested parties from within and outside the Kingdom, the “2017 Tourism and Travel Industry Leaders Forum” next Wednesday, February 8, and will run for two days at the Prince Sultan Hall at the Al Faisaliah Hotel in Riyadh, under the patronage of His Royal Highness Prince Dr. Saif … Read more

The Saudi Health Expo: A gathering of leading local and international experts and consultants    

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Reading time: < 1 Minute  The healthcare sector is one of the most vital sectors in the Kingdom, and the Saudi Ministry of Health is working to develop it,in line with the Kingdom’s Vision 2030, which aims to expand the privatization of government services to achieve sustainable economic growth, increase the contribution of non-oil sectors to the economy, and raise the private sector’s share of healthcare spending from 25% to 35%. Accordingly, the Ministry of Health has begun … Read more

Council of Ministers approves the system of practicing engineering professions Amlak Real Estate Newspaper publishes the regulations

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Reading time: 4 MinutesThe Council of Ministers, chaired by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, approved the Regulations Governing the Practice of Engineering Professions, and emphasized that engineers who are not professionally registered—at the time this regulation takes effect—must rectify their status in accordance with its provisions within six months from the date it goes into effect. The Council also approved an amendment to the regulations of the Consumer Protection Association, such that one-third of … Read more

“Saudi Health Expo 2017 Continues in May with an eye on privatizing the Ministry of Health's projects

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Reading time: < 1 MinuteBuilding on the tremendous success of the previous edition, the «Saudi Health Expo 2017» continues its journey this year, taking place from the 14th to the 21st of Sha’ban 1438 AH, corresponding to May 8–10, 2017, at the Riyadh International Convention and Exhibition Center, where the number of exhibitors in the 2016 edition reached 551 companies from 42 participating countries, and the event was attended by … Read more

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