Month: April 2019

Under the umbrella of Invest in Saudi Arabia Aquaculture Investment Promotion Forum kicks off in Dubai tomorrow

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Invest in Saudi Arabia

Reading time: 3 MinutesThe National Program for the Development of the Fisheries Sector is organizing the Saudi Aquaculture Investment Forum in Dubai, United Arab Emirates, tomorrow, Monday, under the ”Invest in Saudi Arabia“ umbrella, with visitors from around the world participating in the one-day forum. The forum is part of the initiatives recently launched by His Royal Highness Prince Mohammed bin Salman … Read more

It contains centers, investment lands and villas. “Al Safo Real Estate Marketing Ltd. is auctioning off Sheikh Al Majid's properties

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Real Estate Auction - Sale of Villas

Reading time: 2 MinutesAl-Safwa Real Estate Marketing Company Limited announced that the first batch of the estate of Sheikh bin Muhammad Al-Majid, may God have mercy on him, will be offered at a public auction following the Asr prayer today, Sunday, August 2,1440, corresponding to April 7, 2019, at the Movenpick Hotel in Riyadh. The auction includes a large number of prime investment sites, commercial lots, and villas and buildings for sale, under the supervision and by order of the Riyadh Enforcement Court. … Read more

The Real Estate Fund Deposits 590 Million Riyals into the Accounts of “Sakani” Program Beneficiaries”

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Real Estate Finance - Residential Units

Reading time: 2 MinutesIn March 2019, the Real Estate Development Fund deposited 590 million riyals into the accounts of beneficiaries of the “Sakani” program, which is jointly administered by the Ministry of Housing and the Fund, The Fund explained that 90 million riyals of this amount was allocated to subsidize mortgage contract profits, and half a billion riyals went to beneficiaries of the Military Personnel Support Initiative. The Fund added that the total amounts deposited into the accounts of beneficiaries of “subsidized real estate financing” and the “Housing Loan” initiative… Read more

The Ministry of Housing Calls for Amendments to the Regulations on Unused Land Fees and for Addressing the Challenges Facing Their Implementation

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Real Estate - Residential Land - White Land

Reading time: 2 MinutesThe Ministry of Housing announced that it has prepared a draft amendment to certain articles of the White Land Fees Regulation, and in its annual report called for a review of certain provisions of the regulation’s implementing rules, along with proposals to address the challenges it faces in enforcing the fee provisions. The Ministry also proposed that, with regard to white land, it be exempted from having to pursue the collection of fees in cases where they are due, settled, or unpaid, until the expiration of … Read more

The total value of residential mortgage financing provided to individuals rose to 4.22 billion riyals in February

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Residential Mortgage - Real Estate Finance

Reading time: 2 MinutesThe volume of new residential mortgage financing provided by banks to individuals reached 4.22 billion riyals in February 2019, an increase of 121% compared to the same period in 2018, according to data released by the Saudi Arabian Monetary Authority “SAMA.” Specifically, financing for “residential villas” accounted for the largest share of total financing provided by banks during … Read more

«Wafi» Seeks Feedback on Draft Standards for Real Estate Developer Qualification

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Off-plan sales

Reading time: 2 MinutesThe Off-Plan Sales and Leasing Committee («Wafi») approved the publication of draft eligibility criteria for real estate developers to work on off-plan projects—units that are not yet completed — and to open them for public comment for a period of 15 days from the date of publication before adopting them. The committee invited all relevant parties (real estate developers, those interested in the real estate sector and its regulations, etc.) to participate … Read more

Editor-in-Chief Abdulaziz Al-Issa writes about: Auctions. And marketing rights

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Abdulaziz Al-Issa - Third Amlak Centennial - Lifting the land moratorium - Saudi Media - Vision 2030

Reading time: 2 MinutesReal estate auctions play a major role in accelerating and revitalizing the real estate market as a traditional channel, but they require greater regulation, transparency, and legislative development—especially enforcement court auctions, whose annual volume is estimated at more than 4 billion riyals. Despite all these advantages, these auctions still suffer from a lack of promotion and marketing, particularly court auctions… Read more

Under the patronage of His Excellency the Minister of Housing More than 50 specialized companies showcase their latest products at Cityscape Jeddah

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Investing in real estate

Reading time: 3 MinutesUnder the patronage of His Excellency the Minister of Housing, Mr. Majid Al-Hogail, the Cityscape Jeddah real estate exhibition kicked off in Jeddah and will run for three days at the Jeddah Convention and Events Center. The exhibition aims to align with the objectives of the Kingdom’s Vision 2030, which seeks to diversify the economy beyond the oil sector, double the real estate sector’s contribution to the Kingdom’s economy, and work toward creating an investment environment … Read more

“Development Housing” signs an agreement with Belt Contracting Company to implement 3130 housing units through 5 projects in 3 regions

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Housing projects

Reading time: 3 MinutesIn the presence of His Excellency Majid bin Abdullah Al-Hogail, Minister of Housing, Belt Contracting Company—a subsidiary of Ladan Investment and one of the leading national contracting firms in the Kingdom of Saudi Arabia—signed an agreement with the Developmental Housing Program —affiliated with the Ministry of Housing—to carry out five housing projects in a number of cities and provinces for program beneficiaries registered on the Ministry’s lists. 3,130 housing units … Read more

Hamad Mohammed Almoosa Real Estate Investment and Development Company sells 81% of Al-Fal Scheme in Jeddah

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Jeddah real estate

Reading time: 3 MinutesHamad Mohammed Al-Mousa Investment and Real Estate Development Company successfully sold more than 81% of the “Al-Fal” residential and commercial land development in Jeddah, following the inauguration of the sales center yesterday, Tuesday, April 2, 2019, The auction saw a notable turnout of high-caliber businesspeople, investors, and prospective buyers interested in the project, which spans one million square meters and is surrounded by … Read more

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