Month: April 2017

Amlak Newspaper Articles Abdulaziz Al-Issa writes: The real estate is sounding the alarm

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Reading time: 2 MinutesThe past few weeks have been filled with accelerated and strong steps in the positive direction of correcting the course of the real estate market, steps that started gradually, because correcting the course does not start quickly, as some people imagine. According to a statement made by the Minister of Housing on the sidelines of the Riyadh Restatex event held last week, he noted that land prices fell by 9 % and villa prices fell ... Read more

 Riyadh's real estate market declines slightly due to economic reforms

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Reading time: 2 MinutesJLL Real Estate Investments and Consulting revealed that the real estate market in Riyadh is witnessing a slight decline as a result of the implementation of a number of economic reforms with the National Transformation Program (NTP). This came in its report on the performance of the real estate market sector in Riyadh during the first quarter of 2017 under the title “Market Overview ... Read more

 “Retirement” launches the new version of the «Masaken» mortgage program»

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Reading time: 2 MinutesThe Public Pension Agency (PPA) has launched the new version of the «Masaken» program, which includes many improvements and new easy conditions for financing housing for all current and retired government employees, including military and civilians, in continuation of its support for citizens« aspirations to own homes. The Foundation confirmed that the launch of the »Masaken« program in its new solution aims to provide real estate financing solutions for state employees, to enable them to ... Read more

 Ministerial decision to register all government deeds as “state real estate”

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Reading time: < 1 MinuteThe Council of Ministers decided in its session held last week under the chairmanship of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud in Riyadh to approve the registration of all deeds of ownership of real estate owned by the state under the name (state real estate), and that the registration of state real estate will be in accordance with a number of arrangements, including: If the government entity has ... Read more

Minister of Housing: Prices of land, villas and apartments fall and supply matches demand

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Reading time: < 1 Minute  Housing Minister Majid Al-Hogail said that prices are now closer to the citizen's income, as land prices fell by 9 % and the prices of villas and apartments fell by 8 %. The prices range from 250 to 700,000 riyals, and the supply has become commensurate with the demand due to the projects that are done in partnership with the private sector ... Read more

Requiring building code enforcement to deliver services to buildings

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Saudi Building Code

Reading time: < 1 MinuteHigher authorities have issued a directive not to connect services to buildings that are ready to be used or occupied, in addition to preventing supervisors, designers and contractors from operating or using these buildings if they do not obtain a certificate of permission to occupy the building from the municipality or municipality, confirming its compliance with the Saudi code. The code requires violators to comply with the code if they commit «dangerous» violations that endanger life or property. Read more

Kuwait: Real estate liquidity rises by 84% in a month

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Reading time: 2 MinutesThe Kuwaiti Ministry of Justice revealed that the liquidity of the real estate market increased during March 2017, compared to the liquidity of last February. According to a recent report, the total value of contract and agency transactions amounted to about 304.5 million dinars in March, which is 84.6% higher than that of February 2017, which amounted to about 164.9 million dinars, and also increased by 23.9% compared to March ... Read more

“Housing” signs MoUs with 35 local and international companies under the Private Sector Partnership Program

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Reading time: < 1 MinutePrince Saud bin Talal bin Badr, advisor and general supervisor of the Ministry of Housing's Agency for Housing Support and Branches, confirmed that the ministry has signed memorandums of understanding with 30 local companies and five international companies as part of the partnership program with the private sector. Prince Saud bin Talal indicated that the ministry is in the final stages of signing contracts with these companies. He explained that the products that will be provided by these ... Read more

“Statistics”: The real estate price index fell by 9.9% during the first quarter of 2017

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Reading time: < 1 MinuteThe real estate price index fell by 9.9% during the first quarter of 2017, compared to the same quarter of 2016. The General Authority for Statistics explained in a statement that the decline is due to changes in the sectors that make up the index, represented by a decrease in the residential sector by 9.5%, and the commercial sector by 11.7%, in addition to the decline in the agricultural sector by 1.3%. It indicated that the real estate price index for the quarter ... Read more

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