Month: January 2018

Reading time: < 1 MinuteThe value of non-performing loans at the Real Estate Development Fund stood at approximately 30 billion riyals at the end of the second half of 2017, and the Ministry of Housing stated that net lending totaled approximately 94 billion riyals over the past ten years (2006–2016). The ministry added that the failure of some beneficiaries to repay certain loans from the fund within the specified period led to a financial imbalance … Read more

Reading time: < 1 MinuteThe Real Estate Contributions Committee at the Ministry of Commerce and Investment has begun the process of disbursing shareholders“ entitlements to ”Kamehan Al-Subaie” for four contributions: the Riyadh Center contribution, the Jeddah Center contribution, the Atiqa contribution, and the Ardh Al-Hijaz contribution. The committee has called on shareholders who have not yet updated their information or submitted the original contribution documents to contact the committee as soon as possible and provide the original contracts, proof of identity, and their IBAN bank account number… Read more

Reading time: < 1 MinuteIn a new ruling, the Abha Administrative Court, in a first-instance judgment issued the day before yesterday, Monday, ordered the Real Estate Fund to pay loans from its capital to 30 beneficiaries in the amount of 500,000 riyals each, and to revoke its decision to transfer them to commercial banks. The ruling is considered a preliminary one, and the Fund has the right to appeal it within a maximum period of one month from the date of its issuance. Several court rulings have been issued by … Read more