Month: November 2017

The real estate index records a rise in the value of real estate transactions and jumps to 17.4 billion riyals last month

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Reading time: < 1 Minute  The Ministry of Justice revealed that the value of real estate transactions that took place during the month of Safar of the current year 1349 AH increased by 5% compared to the same period last year, reaching 17.4 billion riyals, according to data shown by the ministry, and this is the first rise (on an annual comparison basis) in about two years, that is, since the second quarter of 1437 AH, where ... Read more

Taif: 60 investment opportunities reviewed during the meeting of the Council of Saudi Chambers. 200 businessmen and women express their interest

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Reading time: 2 Minutes In the presence of Taif Governor Saad Al-Mimouni, Chairman of the Board of Directors of the Saudi Chambers, M. Ahmed Al-Rajhi and Taif Mayor M. The 94th meeting of the Council of Saudi Chambers reviewed more than 60 investment opportunities in Taif in the presence of businessmen and investors, and the investment opportunities presented by the Taif Municipality and other government sectors drew the attention of more than 200 men ... Read more

Oman's Ministry of Housing allows investment funds to own real estate

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Reading time: < 1 MinuteA decision issued by the Ministry of Housing in the Sultanate of Oman allowed real estate investment funds established in the Sultanate, and licensed by the General Authority for Capital Market, to own real estate necessary to practice their licensed activity, by purchasing, according to controls, including that the property to be owned is existing, and that the ownership is limited to real estate with commercial, residential, commercial, industrial and tourist use, and may ... Read more

 Riyadh to host Information Security Conference to promote technology for modern societies

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Reading time: < 1 MinuteWith the participation of major international companies and entities, the annual MENA Information Security Conference 2017 will kick off in Riyadh on Tuesday in its second Saudi edition, in the presence of major international companies and entities specialized in information security and technology, amid the escalating level of cyber attacks, and a number of specialized working papers will be presented and the conference will discuss important working papers that will provide a “map ... Read more

Riyadh to host the second edition of the Saudi Installment Finance Exhibition tomorrow

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Reading time: < 1 MinuteRiyadh will host tomorrow, Tuesday, the second edition of the Saudi Installment Finance Exhibition, which will last until November 23, in support of individuals, entrepreneurs and owners of small and medium enterprises and to consolidate one of the most important goals of Vision 2030 by providing the necessary financing for youth projects and developing their own resources. The exhibition, which is hosted by the Riyadh Exhibition and Convention Center, brings together financial institutions and companies ... Read more

Municipal and Rural Affairs: Real estate is an investment activity. Disposal regulations reduce reliance on subsidies

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Reading time: 2 MinutesThe announcement by the Ministry of Municipal and Rural Affairs of a project to update the regulation on the disposal of municipal real estate to take the opinion of beneficiaries on it carried several meanings and objectives, most notably reducing dependence on subsidies paid to municipalities. The Ministry of Municipal and Rural Affairs has reconsidered the concept of municipal investment and expanded it to include municipal real estate and services, and all investment opportunities to reach sustainable cities. Read more

“Ejar” program organizes field visits to real estate brokerage establishments to introduce and train them on the Ejar network

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Rent program

Reading time: < 1 MinuteThe “Ejar” program, which the Ministry of Housing is seeking to implement, organized field visits to real estate brokerage establishments in Riyadh as a first phase, with the aim of introducing, assisting and training them to deal with the Ejar network. For his part, the General Supervisor of the Real Estate Rental Sector Regulation, Engineer Mohammed Al-Batti, confirmed that the field visits carried out by Ejar teams aim to introduce real estate brokerage establishments to the network of ... Read more

Ministry of Housing launches online application to search for real estate establishments registered with Ejar

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Rent

Reading time: < 1 MinuteThe Ministry of Housing, represented by the “Ejar” initiative, has unveiled an electronic application that aims to facilitate the search for real estate establishments registered with Ejar, through which it can view the latest developments in the real estate rental sector, as well as the laws and regulations related to this sector. The application aims to facilitate the search for real estate establishments that are registered with Ejar, and can ... Read more

Ministry of Housing launches more than 245,000 housing and finance products Covering 87% of the target

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Reading time: < 1 MinuteThe number of beneficiaries of the Residential Program for 2017 has reached more than 245,000, representing 87% of the 280,000 beneficiaries targeted to be reached in the next installment by the end of this year. Last week, the Ministry of Housing announced the launch of the tenth installment of the residential program, offering 30.87 ... Read more

Turkey denies changing real estate ownership regulations for GCC nationals and taking over half of the property upon the death of the owner

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Reading time: < 1 Minute  The Turkish authorities denied what was recently reported in some media outlets about the state seizing 50% of the value of the property upon the death of the foreign owner, explaining that inheritance taxes are defined by law and are calculated as tranches starting from 1% only. The tax system is applied to Turks and foreigners alike, where the foreigner is treated ... Read more

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