Month: May 2018

The number of properties sold to foreigners in Turkey is on the rise Izmir competes with Berlin in the global real estate index

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Reading time: < 1 MinuteThe Knight Frank Global Index showed that real estate prices in the province of Izmir, located on the Aegean coast in western Turkey, rose by 18.51% during 2017, ranking second after the German capital Berlin, which saw a 20.51% increase, In third place was the Icelandic capital, Reykjavik, which recorded a 16.61% increase in real estate prices compared to the previous year … Read more

The Ministry of Justice requires real estate appraisers to obtain a professional license from the Ministry of Commerce

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Title Deed - Real Estate

Reading time: < 1 MinuteMedia sources reported that the Ministry of Justice has required real estate appraisers to obtain a license to practice their profession from the Ministry of Commerce and Investment. The sources explained that Abdulrahman bin Nuh, Undersecretary of the Ministry of Justice for Judicial Affairs, issued a circular to all courts and notary offices, based on a decision by the Minister of Commerce and Investment, who is also the Chairman of the Board of Directors of the Saudi Authority for Certified Appraisers, to amend the two executive regulations of the Appraisers Law… Read more

The Ministry of Housing announces the start of reservations for the Jeddah Housing Project “Sunset Hills” and the City Housing Project “Taiba Gate”

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Jeddah Housing Sunset Hills - Residential Unit

Reading time: < 1 MinuteThe Ministry of Housing announced the start of the viewing and reservation phase for housing subsidy beneficiaries in the Jeddah housing project “Tallat Al-Ghoroub,” with affordable monthly installments starting at 875 riyals and prices starting at 419,770 riyals. The Ministry also announced the start of reservations for the “Bawabat Taybah” housing project in Madinah, located 10 minutes from the Prophet’s Mosque in a residential neighborhood with full services, with monthly installments … Read more

Chinese companies look for agents and invest in power and energy production at Saudi Electricity Exhibition stands

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Reading time: < 1 MinuteOne hundred Saudi and foreign companies helped attract investors to the energy and electricity sector, at the 21st International Exhibition for Electricity, Renewable Energy, Water Technology, Lighting, and Air Conditioning, which recently concluded at the Riyadh International Convention and Exhibition Center. Foreign companies showcased opportunities for cooperation and investment in the Kingdom in the energy sector and its various sub-sectors. In turn, one of the exhibitors from the People’s Republic of China, “Xin … Read more

Real Estate Developers Services Center (Etmam): Delays in Issuing Licenses and Approvals Due to Unclear Requirements

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real estate - building permits - projects - residential real estate development - projects - schemes - residential projects

Reading time: < 1 MinuteThe Real Estate Developers Services Center (Etmam), affiliated with the Ministry of Housing, has noted that the issuance of necessary licenses and approvals by the relevant authorities takes a long time due to multiple requirements, which may sometimes be unclear, in addition to the large number of service providers, resulting in lengthy and complex screening procedures. A working group at the Real Estate Developers Services Center (Etmam) explained during an extensive workshop … Read more

Riyadh Administrative Court overturns the Real Estate Fund's decision to transfer beneficiaries to banks and obliges it to pay the SAR 500,000 loan

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Reading time: < 1 MinuteThe Administrative Court in Riyadh early this week, the Real Estate Fund’s decision to refer beneficiaries to commercial banks and its obligation to lend each affected person 500,000 riyals from its capital in accordance with the procedures previously in effect before the implementation of the housing subsidy regulation issued by Cabinet Decision No. 82 dated 5/3/1435 AH, and deemed the rulings final and enforceable. The ruling came after the expiration of the one-month deadline granted by the court … Read more

The Council of Economic Affairs adopts the Financial Development Program 2020 as a strategic goal of Saudi Vision 2030«   

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Reading time: < 1 MinuteThe Council of Economic and Development Affairs has approved the «Financial Sector Development Program 2020,» one of the programs designed to achieve «Saudi Vision 2030,» which aims to develop the financial sector into a diversified and effective sector to support the development of the national economy, stimulate savings, financing, and investment, and increase the financial sector’s efficiency to better address the challenges facing the financial sector in Saudi Arabia. Based on the connection between … Read more

“The Saudi Central Bank is working with the Ministry of Justice and the Ministry of Housing on a project related to real estate sales

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Reading time: < 1 MinuteThe Saudi Arabian Monetary Authority (SAMA), represented by the “Saddad” system, is working on a project related to real estate transactions in collaboration with the Ministry of Justice and the Ministry of Housing, This was revealed by Ziad Al-Yousef, Director General of National Payment Systems at SAMA, on the sidelines of a lecture titled “Electronic Payments in Saudi Arabia” yesterday. He explained that the project aims to change the method of payment for real estate purchases from certified checks to payment … Read more

Optimism and satisfaction reigns supreme in Riyadh's real estate market Restatex Riyadh 2018 reveals the real estate market's passion for strategic projects

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Reading time: 4 MinutesAmlak Real Estate Newspaper stole the spotlight and attracted attention at the exhibition with its elegant and vibrant presence, alongside major real estate development companies, banks, and financial institutions, as well as the Ministry of Housing and the Real Estate Fund. The Restatex Riyadh Real Estate Exhibition 201, which took place from April 22 to 25 at the Exhibition and Convention Center. The opening ceremony was attended by Minister of Housing Majid … Read more

Partnership Between the Ministry of Housing and the Private Sector Brings Projects with Comprehensive Services and Vital Facilities

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Reading time: < 1 MinuteThe Ministry of Housing’s partnership with the private sector has led to the launch of additional housing projects for beneficiaries of the «Sakani» program, including the «Sea View» in Al-Khobar Governorate and «Rawsan Yanbu» in Yanbu Governorate, which represent a significant leap forward in the housing projects offered by the Ministry in partnership with the private sector. Both projects are distinguished by their strategic locations in the heart of the city and their ocean views, as they overlook the beach … Read more

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