Ejar program continues to operate remotely and registers 20,000 contracts in 15 days

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

Reading time: 2 MinutesThe “Ijar” program—one of the Ministry of Housing’s initiatives—announced that it continues to provide remote services to beneficiaries of its various solutions and options around the clock through its online platform; more than 20,000 contracts were registered during the second half of last March. (Real Estate Rentals). Regarding the details, the program announced that since the 15th… Read more

These include contracting, construction, and building... The UAE exempts 16 sectors from the requirement to operate at full workforce capacity

Hotel Projects - Contracting - Apartments and Villas Prices

Reading time: 2 MinutesThe UAE Ministry of Human Resources and Emiratization has allowed 16 industrial and service sectors within the private sector to operate at full staffing levels, provided that they ensure health, safety, and preventive measures for employees. This comes after these sectors were required to implement remote work and reduced work hours as a precautionary measure to limit the spread of the novel coronavirus and reduce employee attendance … Read more

19 thousand households benefited from subsidized loans 185,000 households benefited through digital platforms in March

Accreditation of the Saudi Housing Guarantee Company

Reading time: < 1 MinuteHousing Minister Majid Al-Hogail announced that 19,000 families benefited from the subsidized loan, and 185,000 families were served through the ministry’s digital platforms last March. Al-Hogail explained in a tweet on his official account that redoubled efforts have resulted in the continued delivery of units under the Developmental Housing program, expressing his sincere thanks to his colleagues for their efforts. (Mortgage Financing) He stated … Read more

Social Insurance reveals the conditions for Saudi employees to be reimbursed 60% of their monthly wages

The new social insurance system

Reading time: < 1 MinuteThe General Organization for Social Insurance has revealed the compensation terms announced in the royal decree issued yesterday, under which the government will cover % of the salaries of Saudi private-sector employees. In a statement, the Social Insurance Authority clarified that the compensation conditions include: 1- The participant must have been enrolled in the unemployment insurance program prior to January 1, 2020, and must have continued to participate in it … Read more

Optimism is high for private sector companies after the state assumes 60% of Saudi employees' salaries

Royal Orders - Private Sector - Labor Market

Reading time: 2 MinutesThe royal decree issued by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, stipulating that the state would cover 60% of the salaries of Saudi employees in the private sector who are enrolled in social insurance, which has generated widespread satisfaction and optimism that the local economy is overcoming the effects of the COVID-19 pandemic, with the total allocated funds amounting to nine billion riyals. Exemption from work stoppage … Read more

Dr. Suleiman Al-Tufail writes: The ten rules for teaching real estate brokerage from scratch

Dr. Sulaiman Al-Tufail. Real Estate Brokerage - Investment

Reading time: 2 MinutesA real estate broker is an essential element and a key player in the execution of all types of real estate transactions. The broker acts as an intermediary between the two parties to a real estate transaction—the seller and the buyer—in exchange for a commission.  Here are ten rules that summarize the fundamentals of successfully starting a real estate brokerage business from scratch: Rule 1: Positive Traits—Possess positive traits and virtuous character, such as honesty, integrity, patience, generosity, forbearance, and a smile… Read more

The Ministry of Justice Officially Launches Its Online Auction Platform, Starting in Riyadh

Online Auction

Reading time: < 1 MinuteThe Ministry of Justice has launched an electronic auction platform to facilitate the process for users as part of its digital transformation plan and efforts to promote remote work. The platform allows users to bid electronically on items being auctioned using electronic payment methods. The Ministry of Justice has outlined nine steps for organizing an online auction, as follows: 1. Authorization of the sale by the court. 2. Entry of auction details and publication of the announcement. 3. Registration … Read more

The Ministry of Housing announces the opening of the nomination process for the Housing Cooperation Council Award«

Real Estate - Residential Projects - Residential Scheme - Real Estate Finance - Residential Schemes

Reading time: 2 MinutesThe Ministry of Housing has revealed details regarding nominations for the «Gulf Cooperation Council Housing Award» for the Gulf Cooperation Council (GCC) countries, in its third edition titled “Planning and Design of Residential Neighborhoods”; which is being held in accordance with specific criteria and conditions, and stated that the deadline for submitting nomination files is the end of next June. (Housing Projects) The Ministry clarified in a statement that the award aims to … Read more

The Developer Services Center «Tamamal» received 64 electronic applications in March 2020

Developer Services Center - Completion - Real Estate Development

Reading time: < 1 MinuteThe Real Estate Developers Services Center «Etmam,» affiliated with the Ministry of Housing, continued its operations throughout March 2020; receiving 64 requests for the services it provides to developers and engineering firms through its platform. This is part of the program’s continued provision of remote services in accordance with the preventive measures announced by the relevant authorities to limit the spread of the coronavirus, and in line with the center’s strategic objective of improving the performance of … Read more

SAMA requires contractors to insure hidden defects in buildings

Retail Housing Finance

Reading time: < 1 MinuteThe Saudi Arabian Monetary Authority (SAMA) has decided to adopt the model form of the mandatory insurance policy covering hidden defects in buildings and construction projects, in accordance with a Cabinet decision requiring contractors on non-governmental sector projects to insure against hidden defects that appear in buildings and structures after they are put into use. The decision is part of the Authority’s ongoing role in developing the insurance industry in the Kingdom and supporting the growth of … Read more