Month: February 2019

More than 8,000 hotels and furnished residential units licensed in ten years. A qualitative shift in the sector

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licenses

Reading time: 2 MinutesThe General Authority for Tourism and National Heritage revealed that the number of licensed accommodation facilities across all regions has reached more than 8,000 hotels and furnished residential units over the past ten years, and the General Directorate of Licensing, in coordination with the Legal Department and the Authority’s branches across all regions of the Kingdom, has managed to achieve a major breakthrough in the areas of oversight and monitoring of operating establishments… Read more

Mortgage Fund approves transfer of mortgage from one property to another and enables women to buy the financed property

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Mortgage loan

Reading time: 2 MinutesThe Real Estate Development Fund revealed 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 loan program has exceeded 10,000. The Council was briefed on the progress of the “Subsidized Housing Loans for Active-Duty Military Personnel” initiative, following its launch in November 2018 and the positive steps taken. This came during a meeting held by the Council … Read more

It contains 24 residential and commercial blocks... Itqan Real Estate completes its readiness to launch Rehab Al Aziziya soon

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Residential and commercial units

Reading time: 2 MinutesItqan Real Estate has announced its intention to launch the Rehab Al-Aziziyah development in the coming days. The project is considered one of the most distinctive developments, featuring a variety of unique residential and commercial plots with comprehensive services and facilities, and is located near all amenities and major roads. The project’s total area is 152,810 square meters, distributed across 24 blocks with residential, commercial, and investment spaces of various sizes and specifications. It is located … Read more

39 plans ready for review... Ministry of Housing adds new housing plans to the "Sakani" online portal

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Housing Scheme - Real Estate Loan - E-Services

Reading time: 2 MinutesThe Ministry of Housing announced that it has added a number of new housing projects to the “Sakani” program’s online portal, as part of the housing projects recently launched by the portal. To date, the portal has made 39 projects available, with more projects to follow in the coming period. This is to allow beneficiaries to choose a housing project that suits them from the selection of free land plots online without having to visit the Ministry’s branches, and that … Read more

New residential projects in the Al-Qassim and Tabuk regions will provide 564 residential villas

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Residential Projects - Real Estate Finance

Reading time: 2 MinutesThe Ministry of Housing announced the release of 564 residential villas through the launch of three new housing projects for ready-to-move-in villas as part of the ministry’s initiatives in the Tabuk and Al-Qassim regions. The Ministry clarified in a statement that these projects will be available for reservation by eligible beneficiaries by visiting the project site and completing the final reservation procedures for the residential unit, noting that delivery will take place … Read more

In cooperation with the Building Technology Incentive Initiative Sharqiya Chamber organizes a workshop on “Building Technology Revolution in Housing”

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Construction

Reading time: < 1 MinuteThe Eastern Province Chamber, in collaboration with the Construction Technology Incentive Initiative (one of the Housing Program’s initiatives), will hold a workshop tomorrow morning, Thursday, February 14, 2019, titled: “The Construction Technology Revolution in Housing and Its Impact on Project Duration and Costs,” at the Chamber’s headquarters in Dammam. The workshop will address the Construction Technology Incentive Initiative, provide an overview of the technologies and incentives offered to developers and manufacturers, and review real estate developers’ experiences with the technology… Read more

Ejar program monitors more than 3,000 off-grid residential rental contracts Registration rate of 1100 contracts per day

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Apartments for rent - apartment rental platform - residential rental - real estate lease

Reading time: 2 MinutesThe General Supervisor of Real Estate Regulation at the Ministry of Housing, Engineer Mazen Al-Daoud, revealed that more than 3,000 residential lease agreements had been identified as operating outside the electronic system, as well as cases of unauthorized brokerage and the practice of activities not listed in the commercial register, through inspections covering more than 17,000 establishments in various regions of the Kingdom to date, confirming the issuance of several ministerial decisions regarding violations and penalties, … Read more

Addressing the challenges of personal financing... The “Housing Finance in Saudi Arabia” conference kicks off in Riyadh on March 6

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Housing finance

Reading time: 2 MinutesThe Real Estate Development Fund has announced the key themes of the second edition of the “Housing Finance in Saudi Arabia” conference, which will kick off on March 6, 2019,  in the presence of His Excellency the Minister of Housing, Mr. Majed bin Abdullah Al-Hogail, who will open the conference with a session on the housing sector in the Kingdom, featuring Mr. Khalid Al-Amoudi, General Supervisor and Vice Chairman of the Board of Directors of the Real Estate Development Fund. The session will discuss … Read more

Previous successes. Riyadh will host the Saudi International Real Estate Conference (SIRC5) on March 6

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Real estate finance companies

Reading time: 2 MinutesThe National Real Estate Committee of the Council of Saudi Chambers announced that it will host the fifth edition of the Saudi International Real Estate Conference (SAIREC 5), titled “The Role of the Real Estate Sector in Maximizing Gross Domestic Product,” to be held March 6–7, 2019, in the capital city of Riyadh, under the patronage of Minister of Housing Majed Al-Hogail and with broad participation from government and private entities related to the real estate sector, as well as a select group of … Read more

Ranked 59th Saudi Arabia advances 24 places in the Global Contract Enforcement Index, and Ministry of Justice portals boost achievement

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Commercial contracts

Reading time: 2 MinutesThe Kingdom has climbed 24 places in the Contract Enforcement Index, rising from 83rd to 59th globally over the past two years, according to the World Bank Group’s 2019 Ease of Doing Business Report. A series of measures taken by the Ministry of Justice contributed to this progress in the enforcement of commercial contracts; among the most important of these measures was the publication of … Read more

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