Month: September 2019

 More than 9,000 free land plots delivered to eligible citizens last month

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Reading time: 2 MinutesDuring the month of August, the “Sakani” program of the Ministry of Housing delivered 9717 free land plots to deserving citizens, distributed in various regions of the Kingdom, in preparation for the start of their construction, as this number contributed to the ease of procedures through the Sakani portal, where all procedures related to the delivery of free land are carried out electronically, starting from the application until the signing of the contract. ... Read more

Housing prices. Will they fall?

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Reading time: < 1 Minute*Abdulmohsen Al-Qasim... The beginning of the rise in real estate prices was from 2008 until it reached the peak in 2014, land prices rose in some places to three and four times the price, so housing prices rose significantly? Before 2008, for example, the price per square meter for residential land in northern Riyadh, specifically south of King Salman Road and west of Abu Bakr Road ... May God be pleased with him ... It does not exceed 500 riyals and now it has reached two thousand riyals. Read more

New construction techniques boost Saudi Arabia's housing growth and demand

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Reading time: 2 MinutesThe construction sector in Saudi Arabia is the fastest growing and most demanding in terms of demand, and this growth is reinforced by Saudi Arabia's entry into the world of modern construction technology and considering this technology as a new basis for the modern and modern housing that the citizen longs for...(Construction Technologies). 4775 housing units Construction technologies support and promote many goals and work to achieve “Vision 2030", which promotes ... Read more

General Authority for Competition (GAC) reveals the criteria for classifying a dominant enterprise in the market

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Reading time: 2 MinutesThe General Authority for Competition (GAC) confirmed that the executive regulations of the new competition law set two criteria for classifying an establishment as dominant in the market, namely if its market share reaches 40 percent, and that it has the ability to influence the relevant market. This was explained by Abdulaziz Al Obaid, Director of the Legal Affairs Department at the Authority, while speaking at a meeting of the Jeddah Chamber, on the occasion of organizing a series of ... Read more

«Tamamam begins implementing the Supreme Order to approve plans within 60 days

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Reading time: 2 MinutesThe Ministry of Housing's Developer Services Center (TAMAMAM) announced that it will start implementing the approval of residential plans within 60 days, in accordance with the Supreme Order issued in this regard and the directives of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister, Minister of Defense and Chairman of the Council of Economic Affairs and Development, with the aim of accelerating ... Read more

  Number of residential and commercial units registered in Ejar rises to 700,000  

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Reading time: 2 MinutesThe number of rental units registered in the electronic network for rental services has reached about 700,000 registered units, which varied between commercial and residential. «The Ministry of Housing revealed this, and Engineer Mazen Al-Dawood, General Supervisor of Real Estate Regulation at the Ministry, explained that the registration of rental units is still increasing continuously, indicating that this reflects the confidence of customers in the network ... Read more

Saudi Arabia's domestic tourism spending soars in latest report  

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Reading time: 2 MinutesTourism traffic to the Kingdom has increased significantly over the past two months, as the total tourist trips for July and August 2019, which coincided this year with the summer vacation period and the Hajj season, reached 3.2 million travelers, compared to 3 million for the same period in 2018, according to a recent report issued by the Tourism Information and Research Center «MAS» of the General Authority for Tourism and National Heritage .... «Spending ... Read more

«NEOM launches first investment opportunities by building and financing the residential area

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Reading time: 2 MinutesNEOM has started building the residential area for the workers who will move to work there, by awarding contracts to two national companies to build, finance and operate the residential complexes dedicated to them, as these contracts are the first investment opportunities offered by the company, in preparation for the launch of construction work in the NEOM project...«NEOM Project» The residential area consists of more than one complex, as it has been awarded ... Read more

  Ministry of Justice: 48% Increase in judgments issued by commercial courts and circuits

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Reading time: 2 MinutesCommercial judgments increased during the past year 1440 AH, compared to the previous year, by 48%, as the total number of judgments issued by commercial courts and departments in the Kingdom reached 36,652 judgments, compared to 24,721 judgments issued during 1439 AH. This was revealed by the Ministry of Justice, which attributed the rise in rulings to a set of digital services in the commercial judiciary, which enhanced ... Read more

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