Month: April 2020

Spanish government requires large landlords to cut rents by 50% and bans tenant evictions for 6 months

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Spain - Renting Real Estate

Reading time: < 1 MinuteThe pace of European countries' decisions to keep their investments alive after the Corona pandemic turned into an economic devastator that attacked humanity without warning, which prompted the Spanish Council of Ministers to take decisions that obligate large landlords to reduce the value of real estate rent by 50% or agree to reschedule payments within three years. In order to help people affected by the coronavirus, ... Read more

Real Estate Contributions Committee issues decisions on 5 real estate contributions

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Real Estate Contributions - Real Estate Contributions

Reading time: 2 MinutesIn its recent meeting, the Real Estate Contributions Committee took several decisions regarding 5 real estate contributions: 1- Sharq Al-Khayyatah (Qatif): The founders will be evacuated after they pay the amounts of the lands they purchased from the contribution. 2- Jeddah's Al-Shalih land contribution: The General Secretariat was instructed to file a compulsory division lawsuit against the partners in the land to sort out the share of ... Read more

Tenants formally request Mashaer REIT to waive rents due as of last March

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Vibes REIT - Rent Real Estate

Reading time: 2 MinutesMuscat Financial Company, the manager of Senses REIT, revealed that it has received a request from the tenant of the Senses REIT properties (Iskan Development and Investment Company) to waive the rents due as of March 1, 2020, due to the precautionary measures issued by the relevant government agencies to prevent the new Coronavirus. (The company subjected the request to discussions with the tenant regarding ... Read more

Ministry of Tourism announces it has prepared more than 11,000 hotel rooms and housing units to welcome expatriates

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Ministry of Tourism - Hotel rooms - Spending by inbound tourists

Reading time: < 1 MinuteThe Ministry of Tourism confirmed its readiness to receive citizens returning from abroad, as more than 11,000 hotel rooms and residential units have been prepared for them to spend the quarantine period, this came during a joint press conference with the Ministry of Health to brief on the developments of the coronavirus pandemic. The ministry explained that it is working with several entities to secure the needs of citizens coming from abroad, noting that ... Read more

Residential program launches “Nisaj Town 2” project in Dammam and pumps 1600 new villas

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Electronic Construction Stages Data Update Service

Reading time: 2 MinutesWith 1600 housing units of villa type, the “Residential“ program of the Ministry of Housing launched the ”Nassaj Town 2" project in the city of Dammam, within the projects under construction in partnership with the private sector, and the villas are characterized by a variety of areas, spaces and designs, and suit all the needs of Saudi families, in addition to 27 projects in the Eastern Province that provide 20665 diverse units. ( Residential Projects ) and explained ... Read more

Ministry of Municipal and Rural Affairs allows pharmacies to open inside supermarkets

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Buildings - Commercial Register - Contracting Projects - Workers' Residences - Shops - Construction - Real Estate - Investment

Reading time: < 1 MinuteThe Ministry of Municipal and Rural Affairs has announced that pharmacies will be allowed to open inside supermarkets, based on a request from the Assistant Undersecretary of the Ministry of Health for Health Investment Development. The Ministry of Municipal and Rural Affairs has set several conditions for the investment of pharmacies and work inside supermarkets, including: - To have an exploited license. - Approval from the Ministry of Health. - The area must not be less than 25 ... Read more

Riyad Bank's brand jumps in local and regional rankings

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Riyad Bank - Off-plan Selling - Real Estate Finance

Reading time: < 1 MinuteRiyad Bank's brand made a big jump in the ranking of the most expensive brands in Saudi Arabia and the Middle East, moving up four places and achieving the 22nd place in the Middle East instead of the 26th in last year's ranking, and the third bank in the list of the 10 most expensive brands in Saudi Arabia, with an increase of 11.7% compared to last year, according to Brand Finance's ranking ... Read more

The “Housing Rent Defaulters Support Program” supports about 5850 citizens

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Rent program

Reading time: 2 MinutesThe Ministry of Housing revealed that the “Support for Defaulters” program intends to support about 5,850 citizens whose contracts have been documented through the electronic network of rental services. The Ejar program confirmed that the defaulters will be paid automatically through the joint electronic services between the Ministry of Housing and the execution system of the Ministry of Justice for those who have been issued executive rulings by judges ... Read more

Ministry of Municipal and Rural Affairs handles 69,000 reports through its digital platform in 15 days

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Buildings - Commercial Register - Contracting Projects - Workers' Residences - Shops - Construction - Real Estate - Investment

Reading time: 2 MinutesThe Ministry of Municipal and Rural Affairs, represented by the secretariats of the regions, handled more than 69,000 reports through its digital platform 940 within two weeks, as part of its efforts to combat the emerging virus, as the reports were divided among the secretariats of all regions during the period March 15 - April 01, 2020. (Real Estate). The municipality intensified its efforts to respond to the calls of citizens and residents, ... Read more

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