Month: October 2017

High Demand for Products... Ministry of Housing Spokesperson: Reservations for 4 Projects Have Been Filled for Housing Subsidy Recipients

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Reading time: < 1 Minute  Saif bin Salem Al-Suwailem, the official spokesperson for the Ministry of Housing, confirmed that reservations for four of the 12 projects announced by the ministry earlier this month have been filled by citizens eligible for housing subsidies, due to the high demand for these projects. Reservations have been filled for the projects in northern Riyadh and the first and second phases of the Rabigh City project, as well as the Al-Mubarraz project in Al-Ahsa Governorate … Read more

Jeddah Tourism and Leisure Forum kicks off in Jeddah, focusing on the importance of building local partnerships to develop the sector

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Reading time: < 1 Minute  The Jeddah Tourism and Entertainment Forum kicked off yesterday evening in Jeddah, with His Excellency Dr. Hani bin Muhammad Abu Ras, Governor of Jeddah, in attendance. The ceremony was attended by His Highness Prince Abdullah bin Saud bin Mohammed, Chairman of the Tourism and Entertainment Committee at the Jeddah Chamber of Commerce, as well as officials from the tourism and entertainment sectors. The event is being held under the patronage of His Royal Highness Prince Khalid Al-Faisal… Read more

Riyad Bank Launches the Most Competitive Four-Part Financing Offer for All Employees in the Public and Private Sectors

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Riyad Bank - Off-plan Selling - Real Estate Finance

Reading time: < 1 MinuteWith the largest and most attractive financing offer on retail banking products, Riyad Bank has launched its “Quadruple Offer” on retail banking products, which includes mortgage financing, personal loans, auto lease financing, and credit cards. The offer targets employees of the government, military, and private sectors at institutions approved by Riyad Bank, as well as employees of major companies. In this context, Riyad Al-Zahrani, Executive Vice President … Read more

“Eastern Chamber” conducts extensive meetings with businessmen and officials from the public and private sectors to discuss the issues of the urban development sector

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Contracting - Investment - Real Estate Finance

Reading time: < 1 MinuteThe Eastern Province Chamber of Commerce plans to launch a program titled “Sharafah – A Conversation on Development,” which includes a series of in-depth meetings between committee members and industry professionals. The program will host a number of officials from the public and private sectors, and participants will exchange views on the most important topics of interest to investors in the urban development sector. The Chamber’s Housing and Urban Development Committee discussed this during its meeting held on … Read more

ASAS Trans Gulf completes Khobar Oasis, a full-service aesthetic and investment destination

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Reading time: < 1 Minute  “Asas Across the Gulf” has completed its “Al-Khobar Oasis” project, located on King Abdullah Road near the waterfront. The building features luxurious retail spaces and distinguished restaurants, as well as a number of fully equipped administrative offices with a total leasable area of approximately 6,000 square meters. It also features distinctive rest areas and family lounges surrounded by fountains, umbrellas, and escalators… Read more

“The Investment Fund announces the establishment of the ”Fund of Funds“ with a capital of 4 billion riyals to support small and medium enterprises

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Reading time: < 1 MinuteWith a capital of 4 billion riyals, the Public Investment Fund announced the establishment of the «Fund of Funds,» an investment fund aimed at supporting small and medium-sized enterprises by investing in venture capital and private equity funds, with the participation of the private sector in its investments. The fund aims to support and develop the venture capital sector by implementing best practices, … Read more

“Emirates REIT” Pays 280 Million Dirhams to Acquire “The Edge” Office Building in Dubai

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Reading time: < 1 MinuteFor 280 million dirhams, Emirates NBD REIT acquired «The Edge» office building in Dubai Internet City from real estate developer «Sweed & Sweed,» The property consists of seven stories and includes 233 parking spaces distributed across the ground floor and three basement levels, providing tenants with one of the highest parking availability ratios relative to office units … Read more

The Ministry of Justice documents 1240 real estate deeds every day. Land accounts for 55% of notary releases.

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Ministry of Justice

Reading time: < 1 MinuteWith an average of 1240 deeds documented daily, the number of real estate deeds emptied by the Ministry of Justice amounted to about 12,396 deeds during the first ten days of the beginning of the new Hijri year, and land accounted for about 55% of these deeds that were documented and emptied in the notaries' writings. The ranking of regions according to the number of deeds and the ranking of regions according to the Ministry of Justice data is as follows: Riyadh region ... Read more

Revealed inaccurate information “Zakat and Income” confirms that all establishments with economic activity are subject to VAT

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

Reading time: < 1 Minute  The General Authority for Zakat and Income Tax (GAZT) revealed inaccurate information that was recently circulated about the Value Added Tax (VAT), confirming that any establishment practicing economic activity is considered subject to VAT and must register if its annual revenues exceed the mandatory registration limit of 375 thousand riyals, and called on the Authority to follow its official website and the VAT website to make sure ... Read more

It includes 3972 housing units. The Ministry of Housing reveals the completion of the procedures of the beneficiaries of the “East Gate” project”

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Reading time: < 1 Minute  Press sources revealed that the Ministry of Housing announced the completion of the procedures of beneficiaries of the «East Gate» project, within the first phase of the project starting from November 5, for a number of 3972 housing units, and the «East Gate» is the first affordable housing project launched by the private sector for housing support beneficiaries on an area of 6.5 million square meters, and its first phase includes 7,000 residential villas, ... Read more

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