Month: January 2019

Reading time: 2 MinutesThe trade and investment sector in the Kingdom of Saudi Arabia faces several challenges. The trade and investment sector in Madinah through a meeting of representatives from 10 entities from the Ministry of Commerce and various agencies with the city’s businessmen and businesswomen—the first such meeting of its kind at the national level—held at the headquarters of the Medina Development Authority and organized by the Medina Industrial Chamber, has begun to explore and discuss mechanisms and ways to … Read more

Reading time: 2 MinutesAs part of its efforts to advance the construction sector, the Saudi Contractors Authority, in collaboration with the Abha Chamber of Commerce and Industry, held a meeting titled ”The Construction Sector: Opportunities and Challenges,” attended by Eng. Osama bin Hassan Al-Afaleq, Chairman of the Board of Directors of the Saudi Contractors Authority; Mr. Mohammed Hazam bin Fahda, Vice Chairman of the Board; Eng. Thabit Al-Suwaid, Secretary General of the Authority; and a number of owners and managers … Read more

Reading time: < 1 MinuteThe General Authority for Competition continued its awareness-raising and guidance efforts by holding its third workshop, titled “Collusion Among Bidders in Public Tenders,” in collaboration with the Riyadh Chamber of Commerce and Industry last week. The workshop aimed to highlight, with the participation of relevant stakeholders, the importance of combating collusion among bidders in all its forms, such as bid-rigging, abstention, rotation, and bid-splitting… Read more

Reading time: < 1 MinuteData from the Real Estate Contributions Committee’s “Liquidation” division revealed that the total number of distressed real estate contributions in Saudi Arabia stands at 656. To date, a total of 275 distressed real estate contributions have been liquidated, while the number of contributions being monitored by the Committee stands at 249, and those outside its jurisdiction at 132. The Committee recently organized a number of auctions to sell some of the distressed real estate contributions… Read more

Reading time: 2 MinutesEight government agencies are preparing to join forces under the National Program to Combat Front Companies, which will serve as a powerful tool for Saudis to own and operate businesses across various commercial and economic sectors, such as real estate, industrial investment, and retail, thereby helping to eliminate fronting and promote private sector growth. The program is one of the initiatives of the Trade and Investment System under the National Transformation Program 2020, and aims to eliminate … Read more

Reading time: 3 MinutesThe regulations of the General Authority for State Real Estate outlined 13 key areas of the Authority’s work, including the formulation of general policies regarding state real estate affairs, as well as the plans and programs necessary for their implementation, proposing draft regulations, amending existing ones, and submitting them to complete regulatory procedures; establishing the necessary procedures to confirm state ownership of all its real estate; and approving the necessary controls and procedures for allocating real estate to government agencies or others and revoking … Read more