Month: August 2018

UK's Aradhana Koala appointed CEO of NEOM's tourism sector«

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Reading time: < 1 MinuteOn Wednesday, the NEOM team announced the appointment of Aradhana Koala, a British national, to the position of Executive Director of Tourism: «We will work with Ms. Aradhana to make NEOM an exceptional global tourism destination with future standards. On Sunday, the official account of the NEOM project announced the impending announcement of the NEOM Council. Read more

Abu Dhabi National Exhibitions Company completes preparations to organize 50 international exhibitions and events

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Reading time: < 1 MinuteAbu Dhabi National Exhibitions Company (ADNEC) has announced the completion of its preparations to organize and host 50 exhibitions and conferences across various sectors, including culture, business, healthcare and entertainment. Humaid Matar Al Dhaheri, CEO of ADNEC and its subsidiaries, said: «ADNEC seeks to strengthen Abu Dhabi's position as the region's business tourism capital by ... Read more

Real estate transactions in Dubai achieve more than 333 million dirhams. Mortgages gain 197 million dirhams

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UAE real estate

Reading time: < 1 MinuteReal estate transactions in the Dubai Land Department achieved more than AED 333 million, as the department witnessed yesterday the registration of 85 sales worth AED 136 million, including 11 land sales worth AED 68 million and 74 sales of apartments and villas worth AED 68 million. Mortgages recorded a value of 197 million dirhams, including 21 land mortgages worth 171 ... Read more

The Ministry of Housing exempts 4 cases from the application of white land fees. It confirms financial penalties for violators of the system

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Reading time: < 1 MinuteThe Ministry of Housing has revealed 4 cases that exclude the suspension of the application of the white land fee, namely: The absence of any of the requirements for the application of the fee mentioned in Article (8) of the regulation, the existence of a legal barrier that prevents the owner from disposing of the land, and the existence of an obstacle that prevents the issuance of the necessary licenses and approvals for the development or construction of the land, provided that the taxpayer is not the cause or participant ... Read more

Shura Council criticizes the Ministry of Housing's funding of developers 5% of products to be allocated to low-income households

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Reading time: 1 MinuteMembers of the Shura Council called on the Ministry of Housing to activate the royal order to develop and distribute the plans transferred to it from the Ministry of Municipal and Rural Affairs. In its session held on Wednesday, the council criticized the ministry's financing of real estate developers, directing it to prioritize lending to citizens, considering the financing of developers as a deviation from the ministry's main work priorities to enable citizens to obtain housing, and called on it to ... Read more

The Future Investment Initiative kicks off in Riyadh in October with a global advisory board of 11 experts

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Investment

Reading time: < 1 MinuteThe Future Investment Initiative (FII), an initiative of the Public Investment Fund (PIF), will be held in Riyadh from October 23-25, 2018. It will focus on leveraging investments to create new opportunities and sectors, as well as fostering innovation and shaping the future of the global economy. The Future Investment Fund revealed the composition of the Future Investment Initiative Advisory Board for 2018, which includes 11 heads ... Read more

In partnership with the private sector, the Ministry of Housing launches 4 new projects in Riyadh, Taif, Khobar and Makkah

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Reading time: 2 MinutesThe Ministry of Housing continued its efforts to provide multiple housing options, as the “Residential” program announced the launch of 4 new housing projects in partnership with the private sector with a total of 6499 housing units “under construction”, which are various models to meet the desires and tastes of different beneficiaries, and the options include villas, townhouses, and apartments, with various sizes and designs, distributed in Riyadh, Khobar, Taif and Rabigh. Morsiya project in Riyadh ... Read more

Within 4 months. The Real Estate Fund succeeds in collecting 190 million riyals from commercial record borrowers

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Reading time: < 1 MinuteThe Real Estate Development Fund was able to collect 190 million riyals from defaulting borrowers with commercial records, within four months of the start of the collection campaign that began last Ramadan of the current Hijri year. According to data from the General Department of Collection, the number of borrowers with commercial records is estimated at 58,126 borrowers, who received loans from the capital of ... Read more

“Zakat and Income Tax sets deadline for those whose revenues exceed SAR 40 million by the end of August

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Zakat & Income Tax - Zakat & Income Tax - Property Tax - Tax

Reading time: < 1 MinuteThe General Authority for Zakat and Income Tax (GAZT) has called on all establishments registered in the Value Added Tax (VAT), whose annual revenues from taxable goods and services exceed SAR 40 million, to submit their tax returns for the month of July before the end of August, through the GAZT portal GAZT.GOV.SA, in accordance with the VAT system and its executive regulations. The General Authority ... Read more

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