Month: May 2017

Alinmaa Bank organizes a workshop on VAT applications at Al Anoud Novotel Hotel

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Reading time: < 1 MinuteAlinmaa Bank organized a workshop entitled "Value Added Tax (VAT) Applications" at Al Anood Novotel Hotel, this specialized workshop aims to discuss the applied aspects of VAT in the GCC countries. The workshop included defining VAT, discussing taxation as a tool of fiscal policy, as well as addressing the reasons for applying VAT and the effects of ... Read more

 Parisian real estate hits record high prices And the British are dominating the buying

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Reading time: < 1 MinuteParis real estate prices will hit a record high this summer as buyers, mostly British, seek apartments in the French capital's most prestigious neighborhoods, according to recent reports. The number of buyers is growing uncontrollably, according to a census by Paris notary Thierry Dulsal, who added that demand has outstripped supply, particularly for selective properties. Read more

Ministry of Housing signs agreement with the Islamic Development Bank to support the renewal of the endowment fund to support housing

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Reading time: < 1 MinuteThe Ministry of Housing renewed its intention to establish an endowment fund to support housing for beneficiaries and low-income people and work with the non-profit sector to provide housing, as the ministry signed a memorandum of understanding with the Islamic Development Bank and agreed to invest endowment resources in the field of housing for beneficiaries and low-income people in accordance with a unified vision and goals, in addition to studying the establishment of an endowment fund ... Read more

Trained 800 women to work The National Bank participates in the “Saudi Women” exhibition at the Four Seasons Hotel in Riyadh

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Reading time: < 1 MinuteAs part of its commitment to empowering productive Saudi women to contribute to a prosperous economy in line with the Saudi Vision 2030, Al Ahli Bank participated with a large pavilion in the “Saudi Women” exhibition in its sixth edition under the name “Ahlaina, CSR Partner”, which was held recently at the Four Seasons Hotel in Riyadh. The bank's pavilion included several productive families who benefited from ... Read more

A number of banks are refusing to lend to those on the defaulters' list in the subsidized finance program

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Reading time: < 1 MinuteThe Real Estate Development Fund (REDF) and a number of banks are working on a new mechanism to solve this issue in order to reach the financing of the largest possible number of those on the waiting lists, according to sources, and the Real Estate Development Fund (REDF) and a number of banks are working on a new mechanism to solve this issue. And the Real Estate Development Fund ... Read more

Finalized 83 contributions... The Real Estate Contributions Department issues decisions in the Mahbas Al-Jin scheme in Makkah

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Ministry of Justice

Reading time: < 1 MinuteThe Real Estate Contributions Department at the General Court in Riyadh recently issued several rulings in the cases of the contributions of the Al-Aziziyah Real Estate Contribution Scheme, north of Mahbas Al-Jinn in Makkah, which has been stalled for 7 years. The rulings included the seizure of the property with expedited enforcement in order to preserve the rights of the shareholders, in addition to the sale of the land located in Makkah, the subject of the contribution, which ... Read more

Housing construction factories provide 100 job opportunities for Saudi men and women

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Reading time: < 1 Minute  The Ministry of Housing spokesperson Saif Al-Suwailem revealed in a press interview that the factories that will build housing units with modern technologies in the Kingdom will provide 100 job opportunities for Saudi men and women over the next five years. Al-Suwailem added that the cost of construction through these modern technologies is up to 30 percent lower than the cost of traditional construction. The Ministry of ... Read more

30 billion riyals in default The formation of a committee to study and set regulations to exempt defaulters of the Real Estate Fund

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Real estate fund

Reading time: < 1 MinuteThe Real Estate Development Fund revealed that the total amount owed by delinquent borrowers reached 30 billion riyals, indicating that it seeks to collect 3 to 4 billion riyals annually within a new mechanism, and that there is cooperation with the Ministry of Justice for a special study of delinquent borrowers. He said that the total amount owed by delinquent borrowers has reached SAR 30 billion. Read more

Zakat and Income Tax Authority subjects the commercial and residential real estate sector to VAT

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Jeddah Real Estate - Real Estate Index

Reading time: < 1 Minute  The Zakat and Income Tax Authority revealed that the commercial and residential real estate sector will be subject to the application of value-added tax (VAT). During a workshop organized by the Eastern Chamber of Commerce and Industry, Hamoud Al-Harbi, VAT project manager at the Authority, confirmed that some cases that will be clarified by the executive regulations will be excluded. Al-Hamoud pointed out that bank loans are not subject to VAT, noting that ... Read more

“Municipal and Rural Affairs” signs agreement to develop urban planning and smart applications for city management

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Reading time: < 1 MinuteIn order to manage joint cooperation in urban planning and smart applications for city management, Minister of Municipal and Rural Affairs Engineer Abdullatif bin Abdulmalik Al-Sheikh and Prince Turki bin Saud bin Mohammed Al Saud, President of King Abdulaziz City for Science and Technology, signed a memorandum of understanding between the ministry and the city, which includes activating and developing the Information Security Operations Center for monitoring and evaluation ... Read more

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