Month: October 2018

50 speakers at the International Commercial Arbitration Conference address the importance of institutionalized arbitration in economic transformation

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Reading time: < 1 MinuteThe first International Conference on Commercial Arbitration in Saudi Arabia highlighted institutional arbitration and its impact on economic transformation, and ways to create a suitable environment for foreign investment through an attractive judicial platform, in the presence of government officials and more than 50 local and international speakers in the field of arbitration. This took place during the conference organized by the Saudi Center for Commercial Arbitration in partnership with the American Arbitration Association … Read more

Boosting domestic tourism Tourism Authority launches the world's first app that integrates three advanced technologies

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Reading time: 2 MinutesTo promote domestic tourism, the General Authority for Tourism and National Heritage launched the “Holo Journey” app last week, the world’s first app to integrate three innovative technological solutions designed to enhance the tourism and national heritage experience. The app offers a one-of-a-kind experience for users, as it utilizes ”mixed reality” technology that enables users to… Read more

The Ministry of Housing announces the tenth installment of the residential program and pumps 34533 housing and financing options  

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Reading time: < 1 MinuteThe Ministry of Housing and the Real Estate Development Fund continued to release housing options under the “Sakani” program for 2018, announcing details of the tenth batch, which includes 34,533 housing and financing options. During a press conference held yesterday in the presence of His Excellency the Minister of Housing, Mr. Majid bin Abdullah Al-Hogail, the Ministry noted that since 2017, the program has provided more than 533,000 housing and financing options. The announcement came … Read more

Saudi investors pump AED 3 billion into Dubai's real estate market in 9 months

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Real Estate Dee

Reading time: < 1 MinuteSaudi investors injected approximately 3 billion dirhams into the Dubai real estate market during the first nine months of 2018, According to an official statement from the Dubai Land Department, the number of investors during that period reached 1,882 real estate investors, ranking fourth on the list of the largest investors in Dubai real estate. Statistics indicate that total real estate investments in Dubai … Read more

Makkah is expanding its housing projects. More than 130,000 housing units in 2017-18

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Reading time: 2 MinutesHis Royal Highness Prince Abdullah bin Bandar, Acting Governor of the Makkah Region, chaired a meeting at the Emirate’s headquarters in Jeddah attended by Housing Minister Majed Al-Hogail, during which the Ministry’s future plans for the region were reviewed, and explained mechanisms to expedite the work of municipal authorities regarding the approval of housing plans within the urban areas of cities and provinces, a step that precedes the handover of sites for housing in preparation for … Read more

Marketing the World’s Largest Residential Building… Next Move Egypt 2018 Kicks Off Next Thursday in Cairo

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Reading time: 2 MinutesThe Next Move Egypt exhibition, supported by Cityscape, kicks off in the Egyptian capital, Cairo, this coming Thursday, October 18, and will run through Saturday, October 20, at the Egypt International Exhibition Center on Al-Mushir Tantawi Axis in New Cairo. The exhibition will showcase hundreds of real estate investment opportunities for prospective buyers and investors across all price points, offered with payment plans … Read more

The Riyadh Chamber, in collaboration with the General Authority for Zakat and Income, is organizing an introductory workshop on value-added tax next Thursday

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

Reading time: < 1 MinuteThe Riyadh Chamber has invited all taxable businesses with annual revenues exceeding 375,000 riyals to attend a workshop on value-added tax (VAT) in collaboration with the General Authority of Zakat and Income, on the morning of Thursday, October 18, 2018, at the Chamber’s headquarters. The workshop aims to assist businesses with annual revenues exceeding 375,000 riyals in registering for value-added tax and enables … Read more

Saudi Build welcomes 512 local and international companies to showcase the latest sustainable building innovations on October 22

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Saudi Construction Exhibition

Reading time: 2 MinutesIn conjunction with the “Saudi Stone Technology Exhibition 2018” and the ”Construction Equipment, Plants, Machinery, and Vehicles Exhibition 2018,“ the ”Saudi Construction Exhibition 2018“ will take place from October 22 to 25 at the ”Riyadh International Convention and Exhibition Center,” with the participation of 512 exhibiting companies from 32 countries, amid expectations of attracting more than 15,000 visitors to participate in … Read more

A condition for completing financing procedures. The Ministry of Housing requires beneficiaries to pay a “seriousness fee” of 1500 riyals

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Real Estate Financing

Reading time: < 1 MinuteThe Ministry of Housing has announced that the “good faith deposit” amounts to 1,500 riyals and is deducted from the payment for the housing unit; it is paid by beneficiaries applying for projects by developers currently under construction. A source at the ministry confirmed that a number of beneficiaries have been notified of an extension of the deadline for paying the earnest money fees for those who have not yet paid, in coordination with real estate developers. The source explained that among the projects for which the extension was granted … Read more

Ministry of Housing urges electronic registration of leases signed after February 12 and warns of penalties

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Reading time: < 1 MinuteThe Ministry of Housing, represented by the “Ejar” program, urged all those whose leases began before February 12 to register on the electronic network, The program confirmed that all contracts signed after this date are required to be registered on the “Ijar” online network, and any violations will result in the penalties stipulated in the regulations. “Ijar” also announced the exemption of residential lease contracts from … Read more

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