Month: January 2018

The Ministry of Commerce Invites Experts to Share Their Views and Suggestions... The New Draft Executive Regulations for the Practice of Engineering Professions Strengthen the Principle of Transparency

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Reading time: 2 MinutesIn order to promote the principles of transparency and participation, the Ministry of Commerce and Investment has invited the general public and professionals, through its website, to share their opinions and suggestions regarding the draft executive regulations for the Engineering Professions Practice System, pursuant to Article (16) of the Law Governing the Practice of Engineering Professions, issued by Royal Decree No. (M/36) dated 19/4/1438 AH.» Establishment of Professional Accreditation Article (16) of the Regulations … Read more

Experts: The Ministry of Housing’s initiatives and products have boosted homeownership rates to 50%.

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Reading time: < 1 MinuteExperts revealed that the initiatives and programs launched by the Ministry of Housing over the past two years, along with the supply of housing units and financing, led to a rise in the homeownership rate among citizens in 2017, reaching approximately 50%, in addition to targeting 300,000 beneficiaries in 2018. The “white land” fee programs contributed to the development of a number of plots to provide housing units, and the sales program … Read more

With 426 exhibitors and Amlak as the exclusive sponsor, the Saudi Plastics and Petrochemicals Exhibition supports the manufacturing sector and boosts GDP

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Reading time: 3 MinutesMore than 426 local and international exhibitors representing 26 countries concluded their participation in the Saudi Plastics and Petrochemical Industries Exhibition 2018 on the evening of Wednesday, January 24, 2018, after a four-day run at the Riyadh International Convention and Exhibition Center. The opening ceremony was presided over, on behalf of His Excellency Engineer Khalid bin Abdulaziz Al-Falih, Minister of Energy, Industry, and Mineral Resources, by Engineer … Read more

The «Amlak» newspaper received an invitation to participate and sponsor the “International Cooperative Housing Forum,” which will showcase local and international experiences

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Reading time: < 1 MinuteThe Riyadh Cooperative Housing Association, in collaboration with Nama Knowledge Company for Exhibition and Conference Organization, plans to organize the «International Housing and Cooperative Housing Forum» under the patronage of His Royal Highness Prince Faisal bin Bandar bin Abdulaziz, Governor of the Riyadh Region and Honorary President of the Society, and with the support and participation of the Ministry of Labor and Social Affairs, the Ministry of Housing, and the Council of Cooperative Societies, from October 15–17 … Read more

The General Investment Authority has reduced the time required to issue, renew, and amend investment licenses to 4 hours

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The best companies

Reading time: < 1 MinuteThe General Investment Authority announced that it has reduced the time required to issue investment licenses from two days and five hours (53 hours) to 3 hours and 59 minutes, through three main measures: restructuring procedures and reducing the number of required documents. For his part, Ibrahim bin Saleh Al-Suwail, Deputy Governor for Investor Services and Consulting, explained that reducing the processing time for investment licenses… Read more

The Ministry of Commerce eliminates the requirement to audit the incorporation contracts of companies and introduces electronic systems to complete the procedures

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Reading time: < 1 MinuteThe Ministry of Commerce and Investment has eliminated the requirement for the review of company incorporation contracts and replaced it with automated electronic procedures carried out through the Companies System, thereby speeding up the incorporation process, as part of efforts to facilitate business start-ups in the Kingdom, so that the company incorporation process is automated and does not require waiting for the Ministry’s approval. The Ministry explained that this amendment enables customers … Read more

The value of real estate transactions rose to more than 34 billion riyals in Rabi' al-Thani

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Reading time: < 1 MinuteThe value of real estate transactions completed during Rabi’ al-Thani 1439 AH reached approximately 34.3 billion riyals, an increase of 99 % compared to the same period last year, according to data released by the Ministry of Justice. This figure is the highest in 24 months—that is, since Rabi’ al-Thani 1437 AH—when the value reached approximately 36.4 billion riyals. The value of real estate transactions rose by … Read more

Amlak newspaper articles ... Mr. Abdulaziz Al-Issa writes ... Investor Vortex 2

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Abdulaziz Alissa - Kingdom Budget 2023

Reading time: 2 MinutesIn our article in the previous issue, we addressed the “investor’s vortex,” and in this issue we continue what we began—discussing the difficulties faced by businesspeople, which cannot be adequately covered in a limited number of articles. There are government agencies that continue to operate contrary to Vision 2030, remaining stuck in the past and failing to evolve; they are frozen in place like a peg, despite their strong commitment to encouraging young people and investors… Read more

Ministry of Housing: Failure to register in Ejar permanently revokes real estate offices” licenses

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Reading time: < 1 MinuteThe Ministry of Housing emphasized that Cabinet Decision No. 405 stipulates that licensed real estate brokers are required to register lease agreements for residential and commercial units electronically through the “Ejar” online platform. The Ministry clarified that anyone who violates this requirement will be subject to penalties under the Real Estate Agencies Regulation, which may include the permanent revocation of the agency’s license; such penalties are to be issued by a decision of the Minister … Read more

Ministry of Labor Begins Implementing the National Classification of Economic Activities “ISIC4”

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Reading time: < 1 MinuteThe Ministry of Labor and Social Development began implementing the National Classification of Economic Activities (ISIC4) as of January 1 of this year, in accordance with the Royal Decree mandating its adoption as the official and unified classification of economic activities in the Kingdom. Khalid Abaalkheil, the ministry’s official spokesperson, said: «The National Classification of Economic Activities (ISIC4) aims to standardize economic activities and adopt international standards for their coding, with the goal of … Read more

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