Month: December 2017

82% beneficiaries of the first installment of the “Citizen Account”. The second installment will be deposited on January 10

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Citizen account

Reading time: 2 MinutesMinister of Labor and Social Development Dr. Ali Al-Ghufais confirmed the deposit of the first installment of the value of the “Citizen Account” support for 82% beneficiaries of the program for the month of December amounted to two billion riyals in bank accounts, and 50% families received the full benefit at an average of 938 riyals as an average support per family, and the average support for families in general is 835 riyals. Al-Ghufais explained that the payment included ... Read more

3.5 2.5 billion riyals monitored monthly for “Citizen Account” and 3.5 million citizens benefiting from the account

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Citizen account

Reading time: 2 MinutesThe Kingdom's 2018 budget allocated about 2.5 billion riyals per month to spend on the Citizen Account, the program designed to compensate Saudi citizens for the impact of various financial reforms, including the adjustment of fuel and electricity prices and the value-added tax, and the beneficiaries of the account expect to disburse financial support through the “Citizen Account” program in the coming days after the approval of the program's policies and mechanisms, and the approval of the budget allocated ... Read more

Riyadh Municipality lists those covered by the grant lands with an electronic program to rank them in order of precedence of royal orders

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Reading time: < 1 MinuteThe Riyadh Municipality is in the process of counting those covered by grant lands and developing an electronic program to prioritize the granting of grants to those who have been issued by royal orders. On the other hand, as part of the Municipality's efforts and continuous campaigns, Al-Rawdah Municipality continued its campaign against the owners of camps and prefabricated rooms that violate ... Read more

Facility Management Expo 2018 in Jeddah to showcase hospitality prospects in mid-January

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Reading time: < 1 MinuteJeddah is preparing to receive the Facilities and Facilities Management Exhibition 2018, which will be held from January 14 to 16, 2018 at the Jeddah Events and Convention Center. The exhibition covers all aspects of facilities and real estate management, including environmental and energy management, IT systems management, facilities and maintenance services, security, health, safety and sustainability. Read more

Ministry of Housing approves 300,000 residential and financial products in 2018, boosting supply in the real estate market

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Reading time: 2 MinutesThe Ministry of Housing and the Real Estate Development Fund announced the launch of the second phase of the “Residential” program for the year 2018, which is the highest since the establishment of the Ministry of Housing and the Real Estate Development Fund, and includes 300 thousand residential and financial products for allocation in all regions of the Kingdom, explaining that the products include 125 thousand housing units in partnership with the private sector, and 75 thousand developed residential land provided by ... Read more

Saudi Real Estate Refinance Company signs first SAR 1 billion strategic partnership agreement with Deutsche Gulf Finance

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Reading time: 2 MinutesSaudi Real Estate Refinance Company (SRRC) has signed its first strategic partnership agreement to refinance one billion riyals with Deutsche Gulf Finance, a leading residential finance company. This agreement is the first of its kind for SRRC as part of its strategic plan to revitalize the residential finance sector by enabling lenders to provide financing solutions that fit ... Read more

With the participation of Amlak Real Estate Newspaper, Taqeem honors 155 specialists and certified trainers in the field of real estate valuation

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Reading time: < 1 MinuteThe Saudi Commission for Accredited Valuers honored yesterday evening the first batch of members who obtained accreditation in the real estate valuation branch (AR TAQEEM) and the economic facilities valuation branch (AB TAQEEM), as well as those who passed the real estate valuation trainer training program, where the number of honorees reached 155 specialists and trainers in the field of real estate valuation, this came during the «First Professional Forum for Valuers» ... Read more

Riyadh Administrative Court orders the Real Estate Fund to pay 500 thousand riyals to 60 beneficiaries who were transferred to banks

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Real Estate Fund - Real Estate

Reading time: < 1 Minute The Riyadh Administrative Court canceled the decision of the Real Estate Development Fund to transfer 60 beneficiaries who were approved before 23/7/1432 AH to commercial banks, and the court obligated the Fund to pay 500 thousand riyals for each beneficiary from the Fund's capital, and this is the fourth decision issued in favor of the beneficiaries from the administrative courts in various cities, and the Fund has the right to appeal the ruling within a month from its date. ... Read more

Real estate professionals meet with the Zakat and Income Tax Authority at the Riyadh Chamber to introduce them to the VAT calculation mechanism

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Reading time: < 1 MinuteOn Wednesday morning, December 27, 2017, the Riyadh Chamber, represented by the Real Estate Committee in cooperation with the Zakat and Income Tax Authority, will organize a meeting entitled “Value Added Tax Calculation Mechanism for the Real Estate Sector.” The meeting will provide a definition of the tax and the controls of its application, within the framework of supporting the Kingdom's strategy related to economic transformation and diversification of sources of income, as part of the support of the Kingdom's strategy related to economic transformation and diversification. At the Chamber's headquarters. And between the board member and the head of the real estate committee ... Read more

With the participation of Amlak Real Estate Newspaper, the Minister of Commerce sponsors a ceremony honoring the first batch of accredited appraisers

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Reading time: < 1 Minute With the sponsorship and participation of Amlak Real Estate Newspaper, the Saudi Commission for Accredited Valuers organizes on Wednesday in Riyadh the «First Professional Forum for Valuers», a specialized forum that brings together members of the Commission in the various branches of valuation, and will present a set of working papers and discussion panels and publish all the latest developments in the valuation profession, and during this forum sponsored by His Excellency the Minister of Commerce ... Read more

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