Month: February 2019

Real Estate Fund: The number of military beneficiaries of the mortgage loan program exceeds 10,000

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Real Estate Fund - Real Estate Finance

Reading time: 2 MinutesThe Board of Directors of the Real Estate Development Fund reviewed the progress of the “Subsidized Housing Loans for Active-Duty Military Personnel“ initiative following its launch in November 2018 and the positive steps that have been taken. The Board noted that the number of military personnel registered on the lists of the Ministry of Housing and the Real Estate Development Fund who have benefited from the mortgage program has exceeded 10,000. This was announced during the meeting… Read more

Itqan Real Estate invites businesspeople and real estate professionals to attend the auction for the Rehab Al-Aziziyah development on Tuesday, February 26

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Real estate auction

Reading time: 2 MinutesItqan Real Estate has renewed its invitation to businesspeople and real estate professionals to attend the auction for the Rehab Al-Aziziyah development, which it is organizing after the Asr prayer on Tuesday, 21/06/1440 AH, corresponding to 26/02/2019 AD, at the project site itself in southern Riyadh, in the Al-Dar Al-Bayda neighborhood, near the Al-Mustaqbal project at the intersection of Al-Ha’ir Road and Nahawand Street, close to the Al-Azizi neighborhood. The Rehab Al-Aziziyah project is one of the real estate projects of Abdullah bin Abdulaziz Al-Rajhi & Sons Company… Read more

SABB Bank Launches “Know Your Customer” Online Service for Updating Personal Information

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Online Data Update - SAP - Online Data Update - Global Trade

Reading time: < 1 MinuteThe Saudi British Bank (SABB) has launched an online “Know Your Customer” service for its customers, allowing them to update their information electronically without having to submit any documents. SABB is thus the first to introduce this service, which is considered one of the important steps in advancing digital banking in the Kingdom and contributing to the achievement of the goals of Vision 2030. This service is part of the bank’s strategy aimed at … Read more

“Al-Khebir REIT” Fund Secures 420 Million Riyals in Financing from Al-Rajhi Bank

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Real estate finance

Reading time: 2 MinutesAl-Khebir Financial, which specializes in asset management and alternative investments, announced the signing of a financing agreement worth 420 million Saudi riyals between the “Al-Khebir REIT“ fund and Al-Rajhi Bank. This Sharia-compliant real estate financing, with a five-year maturity, provides Al-Khebir REIT with 420 million Saudi riyals in funding, of which 340 million Saudi riyals will be allocated to … Read more

Ministry of Housing: Riyadh has 15 housing projects underway and ready for purchase

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Apartments

Reading time: 2 MinutesThe Ministry of Housing confirmed that the number of housing projects it is implementing in Riyadh in partnership with the private sector—represented by qualified real estate developers—totals approximately 15 projects, providing 26,300 housing units. The housing program has begun construction on 12 projects, in addition to three other projects ready for purchase, spread across a number of neighborhoods in the city of … Read more

The Ministry of Housing Issues 25,770 VAT Exemption Certificates for First Homes

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Value Added Tax

Reading time: < 1 MinuteThe Ministry of Housing announced that it had issued 25,770 certificates of exemption from value-added tax for first homes since the program’s launch through the end of January 2019. The ministry clarified that the number of certificates issued to its beneficiaries totaled 16.55 thousand certificates, while 5,327 certificates were issued to beneficiaries of the Real Estate Development Fund, and 3,896 certificates were issued to beneficiaries not on the Ministry’s or the Real Estate Development Fund’s lists. It is worth noting … Read more

Housing Program Releases Its February Report... 12,880 Households Benefited Last January

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Housing unit

Reading time: 2 MinutesThe “Housing Program” released its detailed report for February 2019, revealing that the number of households benefiting from the program’s options reached 12,880 during the month of January. The program confirmed that 6,499 Saudi families were able to obtain homes, noting that 50 % of these Saudi families preferred to receive a ready-to-move-in housing unit, … Read more

The Saudi stock market has gained 188 billion riyals since the start of 2019... and government projects are driving growth

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Public Investment Fund Earnings - REITs

Reading time: 2 MinutesGains in the Saudi stock market since the beginning of 2019 have reached approximately 188 billion riyals. This was as of the close of trading last Thursday,  the market capitalization of listed stocks rose to 2.046 trillion riyals, up from 1.858 trillion riyals. The TASI general stock market index continued its gains, supported by the telecommunications and banking sectors, bringing its gains to 10.22 % since the beginning of 2019, meaning … Read more

“Mulkia” real estate registration errors committee handles more than 600 requests and complaints from investors and individuals

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Property

Reading time: 2 MinutesThe Real Estate Registration Errors Committee (“Mulkiyah”) has processed more than 600 requests and complaints through electronic communication with the complainants, ensuring a swift resolution of the complaints regarding the properties in question, The committee explained that the resolution of a case begins with proper guidance or direct electronic communication with the heads of the relevant agencies to resolve the errors, noting that 575 … Read more

“Bedaya Home Finance and Saudi Mortgage Refinance Company (SMRC) launch Fixed Ijara, the latest home finance solution

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Real estate finance companies

Reading time: 2 MinutesBedaya Home Finance and Saudi Real Estate Refinance Company (SRRC) have announced the launch of Fixed Ijara, Bedaya's latest home finance solution to support the Kingdom's home finance market. This came during a joint press conference held by Mr. Mazen Al Ghoneim, CEO of Bedaya Home Finance, and Mr. Fabrice Sosini, CEO of Saudi Refinance ... Read more

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