Month: May 2018

“Formed ”Property Registration Errors Committee" completes correction of 256 applications

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Ministry of Justice

Reading time: < 1 MinuteThe “Property Registration Errors Committee” formed by the Ministries of Justice and Municipal and Rural Affairs revealed that during the past period, it completed the correction of 256 requests related to property registration errors received from investors objecting to transactions with notary publics. The committee announced the launch of a website to receive requests from investors to object to the errors made by notaries... Read more

Minister of Housing: We don't force citizens to a specific housing product We give him several options

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Minister of Housing

Reading time: 3 MinutesThe Ministry of Housing does not force the citizen to a specific housing product, but rather offers him several options, indicating that the ministry seeks to find solutions that please the citizen and provide him with the appropriate housing regarding Cabinet Decision No. 82, said Majid Al-Hogail, Minister of Housing. This came during his response to questions raised by members of the Shura Council ... Read more

During a meeting with real estate professionals. General Real Estate Authority: We are working on issuing 40 real estate indicators in cooperation with several government agencies

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Reading time: < 1 MinuteThe General Authority for Real Estate revealed that it is working on issuing 40 real estate indicators in cooperation with several government agencies, while aiming to issue four of them before the end of this year. Issam Al Mubarak, governor of the authority, who was speaking at an open meeting for the real estate sector at the Riyadh Chamber last Monday, explained that there are about eight main classifications, including sales and rental indicators, noting that ... Read more

It is updated every two years Civil Defense begins implementing the Saudi Building Code

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Reading time: 2 MinutesThe head of the media team for the Saudi Building Code, Saad Al-Sahli, revealed that the Civil Defense started applying the Saudi Building Code after it was working with the Gulf Building Code, and noted that the code subjected seismic areas to special specifications for each region according to its nature, and expanded the use of renewable energy with technical specifications such as adding solar panels and rationalizing the use of energy. Al-Sahli explained that the committee ... Read more

Al Ahli Bank selects Faisal Al Saqqaf as CEO

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Reading time: < 1 MinuteThe National Commercial Bank of Saudi Arabia (NCB) announced that its Board of Directors, at its meeting held on Tuesday, May 29, 2018, approved the appointment of Mr. Faisal bin Omar Al-Saqqaf as Chief Executive Officer of the Bank, effective Friday, June 1, 2018. Mr. Al-Saqqaf holds a Master's degree in Business Administration and a Bachelor's degree in Economics from the University of ... Read more

Daraya REIT secures SAR 600 million credit facility from Riyad Bank

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Reading time: < 1 MinuteDaraya REIT has signed a credit facility agreement with Riyad Bank to obtain a Sharia-compliant credit facility worth 600 million riyals. The fund manager indicated that the financing period is 7 years, with 250 million riyals of the financing value to be paid in the sixth year and 350 million riyals of the financing value in the seventh year. ... Read more

2761 real estate transactions during the past week, with a decrease of 38.3%

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Reading time: 2 MinutesThe number of real estate transactions in the Kingdom during the past week amounted to 2761 real estate transactions, recording a decrease of 38.3%, which is an extension of the decrease in the previous week by 1.8%, and the number of properties sold during the week decreased by 27.9 %, to settle at 3393 properties sold, compared to its decrease during the previous week by 1.6%. The decrease in the value of transactions included both ... Read more

Khazan Economic City in Oman A key component of the logistics sector

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Reading time: 4 MinutesKhazan Economic City in Oman is one of the main components of the logistics sector in the Sultanate of Oman, as it contains a land port that aims to collect goods coming through airports and seaports and redistribute them to target markets inside or outside the Sultanate. Oman is interested in the logistics sector as a promising economic sector that will promote economic diversification and attract more foreign investment. Read more

Al-Haqeel before the Shura Council today: A three-way partnership between the government, citizens and banks to facilitate financing and guarantee rights

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Reading time: < 1 MinuteHousing Minister Majid bin Abdullah Al-Hogail revealed that the ministry has entered into a tripartite contract between the government, the citizen and the bank to facilitate financing and guarantee rights, and we put an opportunity to develop together by making a center for beneficiaries to serve the citizen and raise the percentage of ownership, which is our first goal in the ministry, the minister said in the Shura Council session held on Wednesday. Read more

Booking 2286 residential units in Sunset Hills, 1502 units in Rataj Makkah and 654 units in Durrat Al Madinah“

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Reading time: < 1 MinuteThe Ministry of Housing confirmed the continuation of reservations in the latest six projects announced in early May, as these projects provide more than 14,000 housing units of various sizes and prices. The Ministry revealed that two phases of the “Sunset Hills” project in the Prince Fawaz neighborhood in Jeddah, and the launch of the third phase of it, in addition to completing the reservation of 96% of ... Read more

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