Month: August 2017

The Cabinet approves holding its meetings on Tuesdays instead of Mondays

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Reading time: < 1 Minute  The Secretary-General of the Council of Ministers stated that a proposal had been submitted for His Majesty’s consideration to hold Cabinet meetings on Tuesdays instead of Mondays, following the establishment of the Council for Political and Security Affairs and the Council for Economic and Development Affairs, and as it became apparent during the recent period following the issuance of Royal Decree No. (A/… Read more

The Ministry of Housing announces the seventh installment of the housing program today and pumps 28 thousand housing products

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Reading time: < 1 MinuteAs part of its ongoing implementation of the “Sakani” campaign programs, the Ministry of Housing is expected to announce today the seventh batch of the program. This batch includes 28,000 housing units, of which 7,700 are subsidized loans provided in partnership with banks and financial institutions, in addition toland plots provided free of charge and housing units under the off-plan sales program in cooperation with real estate developers. It should be noted that … Read more

Deputy Emir of Al-Jouf directs the speedy finalization of housing products in the region and work to overcome obstacles

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Reading time: < 1 MinuteHis Royal Highness Prince Abdulaziz bin Fahd bin Turki bin Abdulaziz Al Saud, Deputy Governor of Al-Jouf Region, directed that the housing projects announced by the Ministry for citizens in Sakaka, Al-Qurayyat Governorate, Dumat Al-Jandal, and Tabarjal be completed as soon as possible so that citizens may benefit from them, and to work with the relevant authorities to overcome the challenges they face. This came during a presentation given by the Director General … Read more

Emaar Properties Launches “Creek Rises” Project in Dubai Creek“  

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Reading time: < 1 Minute  Emaar Properties, listed on the Dubai Financial Market, has launched the “Creek Rises” project in the Al Jazira area of Dubai Creek. The company noted that the project consists of two towers of luxury residential apartments, pointing out that prices for a one-bedroom apartment measuring 830 square feet start at 1.3 million dirhams, while prices for a three-bedroom apartment start at … Read more

White land invoices expected to be issued in Makkah in late Muharram

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White Land Fees Program

Reading time: < 1 MinuteCounselor Mohammed Al-Madiheim, supervisor of the Unregistered Land Fees Program, stated that the Ministry of Housing is currently reviewing registered land in the Makkah region, with invoices expected to be issued by the end of Muharram or the beginning of Safar. It is worth noting that the deadline set by the Ministry for land registration in the region expired last July, and 98 plots of land have been registered, covering an area of … Read more

“The Housing and Justice Ministries are putting the finishing touches on a ”lease“ agreement to be launched in the coming months

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Reading time: < 1 MinuteSources have revealed that the Ministries of Justice and Housing are currently putting the finishing touches on the standardized lease agreement, which will serve as an enforceable document. Once finalized, it will be launched in the coming months, and sources indicate that it will reduce the influx of cases to the courts, and reduce rental disputes in the courts by more than 30%. It is worth noting that the “Ijar” system governs the relationship between the landlord and the tenant … Read more

12.3 billion riyals spent in the housing and transportation sectors, according to the first half of 2017 budget

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Reading time: < 1 MinuteThe budget for the first half of 2017 revealed that 12.3 billion riyals have been spent so far in the housing and transportation sectors out of the approved budget of 52 billion riyals. In addition, Hindi Al-Suhaimi, Assistant Minister of Finance for Technical Affairs at the Ministry of Finance, explained that various budget items are allocated to the Ministry of Housing, including in the basic infrastructure sector … Read more

H1 2017 revenues rise to 308 billion riyals and deficit falls to 72.7 billion riyals

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Government Procurement - Ministry of Finance - Real Estate Investment

Reading time: 2 Minutes  The Ministry of Finance released the general budget figures for the second quarter of 2017 yesterday, Sunday, showing total revenue for the first half of the year at 307.982 billion Saudi riyals, marking an increase of 29.1% compared to the same period last year, while the deficit decreased by 51.1% from last year, reaching 72.728 billion Saudi riyals. Highlights of the first-half budget … Read more

The budget for the second quarter of 2017: Revenues 164 billion riyals, deficit down to 46.5 billion riyals

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Reading time: 2 Minutes  The Ministry of Finance released on Sunday the report on the state budget for the second quarter of 2017 (fiscal year 1438/1439 AH), with total revenue reaching 163.906 billion Saudi riyals, marking an increase of 6.1% compared to the same quarter of last year, while actual expenditures during this quarter amounted to approximately 23.1% of the total estimated budget during … Read more

Housing Ministry reveals 5.3 million housing units occupied by Saudis and 1.8 million by foreigners

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Reading time: 2 MinutesStatistics and findings from the 2016 Population and Housing Census showed that 5.3 million housing units are occupied by Saudis, while 1.8 million units are occupied by non-Saudis, which accounts for more than 25.1% of the total number of dwellings. This represents a significant portion of the housing stock and has a major impact on the rental market and property management. The average supply is 107,000 units… Read more

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