Month: July 2017

Zakat and Income Tax Authority: 5% added tax value of total annual income

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Zakat & Income Tax - Zakat & Income Tax - Property Tax - Tax

Reading time: < 1 MinuteThe General Authority for Zakat and Income has begun reaching out to companies and institutions to explain and educate business owners about the value-added tax on goods and services, which will take effect beginning in January 2018. The Authority stated that VAT is calculated at 5% of total income exceeding 375,000 riyals annually, and the General Authority for Zakat and Income had posted the draft VAT system on its website … Read more

One of Port of the Arabs“ latest projects, ”Ras Al Khaimah Real Estate,” has handed over 157 luxury residential units to their owners

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Reading time: < 1 Minute Ras Al Khaimah Real Estate, one of the leading real estate development and investment companies in the United Arab Emirates, announced the handover of 157 residential units to their owners at the “Bermuda” project, the company’s latest residential project in Mina Al Arab. The project offers a select collection of the finest residential villas and country homes. These villas are expected to boost demand for the properties offered by the company… Read more

Prince Saud bin Nayef Sponsors the Young Businessmen and Women Exhibition in the Eastern Province

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Reading time: < 1 Minute  Building on the success achieved in previous years, His Royal Highness Prince Saud bin Nayef bin Abdulaziz, Governor of the Eastern Province, will sponsor the ’2017 Young Businessmen and Businesswomen Forum and Exhibition,“ organized by the Eastern Province Chamber of Commerce in partnership with Dhahran Expo, from November 27–29. On this occasion, Abdulrahman Al-Ateishan, Chairman of the Chamber’s Board of Directors, expressed his appreciation for the patronage of His Highness the Governor of the region, … Read more

Featuring 150 different events... M. Ibrahim Al-Sultan Opens the Riyadh Shopping Festival and Praises the Organization

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Reading time: < 1 MinuteLast Monday marked the start of the opening ceremony for the 13th edition of the Riyadh Shopping and Entertainment Festival, organized by the Riyadh Chamber of Commerce and Industry with the support of the General Entertainment Authority as a strategic partner, The event was attended and graced by Eng. Ibrahim bin Mohammed Al-Sultan, Secretary of the Riyadh Region, on behalf of His Royal Highness Prince Faisal bin Bandar bin Abdulaziz, Governor of the Riyadh Region. Eng. Ibrahim, the Secretary, expressed… Read more

Emaar Hospitality Group opens Rove Mall in Dubai

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Reading time: < 1 Minute“Rove Hotels,” a subsidiary of Emaar Hospitality Group, has opened the Rove Business Center Hotel in the Emirate of Dubai, noting that it will focus on hosting meetings, conferences, and exhibitions. The new hotel is located near the Dubai World Trade Center and is just 10 minutes from Dubai International Airport. It features 270 rooms, a fitness center, a swimming pool, and self-service laundry facilities … Read more

Riyad Bank distributes SAR 1050 million in cash dividends for the first half of 2017

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Riyad Bank - Off-plan Selling - Real Estate Finance

Reading time: < 1 Minute Riyad Bank announced that its Board of Directors had approved the distribution of 1,050 million riyals in cash dividends to shareholders for the first half of 2017, at a rate of 0.35 riyals per share and a payout ratio of 3.5% of the par value of the share, with 3,000,000,000 shares eligible for dividends. Shareholders of the bank who hold shares on the record date—Sunday, the 8th of Shawwal—are eligible for the dividends… Read more

Symposium on the Sustainability of Developmental Housing Resources: 338,000 Social Security Beneficiaries Do Not Own Homes

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Reading time: 2 MinutesAs part of its efforts to address the housing crisis, the Ministry of Housing, represented by the “Developmental Housing” initiative in Riyadh, organized a seminar titled “Sustainability of Developmental Housing Resources… Zakat as a Model,” attended by Sheikh Dr. Abdullah Al-Mutlaq, Advisor to the Royal Court and member of the Council of Senior Scholars, Dr. Saad Al-Khathlan, Minister of Housing Majid Al-Hogail, Dr. Fahd Al-Sukait, and Suhail Abanmi, Acting Governor of the General Authority for Zakat and Income, to address … Read more

Saudi Monetary Authority: 129 billion in home improvement loans last year

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Reading time: 2 MinutesThe volume of consumer loans allocated for home renovation and improvement in 2015 and 2016 amounted to approximately 123 billion riyals and 129 billion riyals, before beginning to decline at the end of the fourth quarter of 2016 to 29 billion riyals, according to data from the Saudi Arabian Monetary Authority. This was accompanied by a decrease in maintenance costs and rents in the residential sector. Various loans … Read more

Bank Albilad sponsors Abha Shopping Festival 20. It offers its services through an integrated pavilion

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Reading time: < 1 MinuteBank Albilad is participating in “Abha Shopping Festival 20”, which kicked off yesterday with the honor and presence of the Emir of Asir Region, His Royal Highness Prince Faisal bin Khalid bin Abdulaziz Al Saud, at the Abha International Exhibition Center next to Abha Regional Airport. Bank Albilad is present at the festival through a pavilion and an integrated branch over a period of 54 days, which ... Read more

“Saudi Real Estate plans to implement 567 villas and duplexes in Riyadh's Al Rimal neighborhood

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Reading time: < 1 Minute  With a capacity of (567) villas and duplexes, Saudi Real Estate Company has contracted to implement the closed residential suburb project in the Rimal neighborhood northeast of Riyadh, southeast of King Khalid International Airport. It aspires to be more than just a real estate product or residential units, but represents a modern and luxurious lifestyle for an elite looking for luxury and comfort, as an extension ... Read more

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