Month: May 2020

Economic Advisor Dr. Suleiman Al-Tafail writes: Investment in Housing: A Personal Economic Perspective

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

Reading time: 3 MinutesInvestment in housing is considered a very important sector in driving the economy and development; however, many people overlook key aspects of it. On this topic, I would like to briefly outline the following: First: The importance of providing housing. Verses in the Holy Quran and hadiths from the Prophetic Sunnah explicitly and implicitly emphasize the importance of providing housing and state that it is one of the basic needs that must … Read more

Dr.. Dr. Mons Shujaa writes about living with the coronavirus economic crisis and highlights the most prominent global losses

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Dr.. Mons Shujaa Real Estate Articles - Administrative Harmony

Reading time: 3 MinutesThere are only a few days left until the end of the holy month of Ramadan in 2020. According to current World Health Organization statistics, the number of confirmed cases worldwide has reached more than four million in the four months since the coronavirus outbreak began. Of these, approximately 1.4 million have recovered, representing roughly 30.1%, while the number of … Read more

Finance Minister Says the Coronavirus Pandemic Has Caused Three Major Shocks to the Kingdom's Economy

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Economy - The Impact of the Coronavirus

Reading time: 2 MinutesMohammed bin Abdullah Al-Jadaan, Acting Minister of Finance and Minister of Economy and Planning, stated that the global crisis caused by the spread of the COVID-19 pandemic has dealt three blows to the Kingdom’s economy, each of which could significantly impact the performance and stability of public finances unless the government intervenes with measures to mitigate these shocks. The first shock was an unprecedented decline in demand for oil … Read more

The “Sakani” program has issued more than 15,000 residential land contracts since the implementation of remote work in mid-March

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Real estate financing - financing - free land - residential schemes - housing schemes - housing finance - real estate financing - residential land

Reading time: 2 MinutesThe number of residential land contracts issued by the “Sakani” program since the implementation of remote work in mid-March has reached approximately 15,374, as part of the program’s ongoing efforts to increase homeownership rates to 70% by 2030, in line with the objectives of the Housing Program—one of the programs under the Kingdom’s Vision 2030.  “Sakani” explained that the delivery of land is part of the housing options and financing solutions … Read more

Reservations for the Media Neighborhood Residences in the Mersiya Housing Project, north of Riyadh

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Media Neighborhood - Residential Unit

Reading time: 2 MinutesThe “Mursiya” housing project, located in the Al-Jawan residential district of Riyadh, has begun accepting reservations for housing units in the Media Professionals neighborhood within the Al-Sahafa district. Reservations will remain open for 60 days for beneficiaries of the “Sakani” program who hold a media card, with reservations opening to other beneficiaries after the specified period ends. The neighborhood offers more than 800 residential units in a variety of designs within … Read more

“Saudi Real Estate plans to implement a comprehensive real estate development program for the company’s buildings and complexes in Riyadh

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Saudi Real Estate Company - Real Estate Development

Reading time: 2 MinutesThe Saudi real estate company plans to launch a comprehensive real estate development program for its buildings and complexes located along Al-Olaya Street in Riyadh, The program aims to improve rental and operational performance, given the recent issuance of new permits for plots of land near the Al-Inmaa Bank station on the Riyadh Metro, located in front of the second real estate center at the intersection of Al-Olaya Street and … Read more

“The ”Zakat and Income” Authority is partnering with the Ministry of Justice to launch an online platform for value-added tax on residential real estate

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Zakat & Income Tax - Zakat & Income Tax - Property Tax - Tax

Reading time: 2 MinutesThe General Authority for Zakat and Income Tax announced that it is launching a new initiative—an online platform for individuals to pay real estate value-added tax—in collaboration with the Ministry of Justice. The platform allows property sellers to log in and enter their information prior to the transfer of title, after which a payment invoice for the tax amount is issued, and the declaration and payment are made accordingly. This was explained by the Governor of the General Authority … Read more

Real estate expert Saud Al-Shuaibi calls for hiring Saudis with official contracts in real estate offices

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Riyadh City - Investment - Tourism - Real Estate - Real Estate Offices - Real Estate Investment

Reading time: 2 MinutesReal estate expert Saud Al-Shuaibi outlined a number of recommendations for the success of real estate offices and to encourage Saudi nationals to work in them, explaining that the path to excellence and stability—so that these agencies can achieve their desired goals—begins with hiring qualified Saudis on official, full-time contracts and establishing a property management plan, noting the necessity of utilizing a rental network and system. Al-Shuaibi emphasized the importance of employees … Read more

Approval of the strategy to develop outdoor advertising in cities will boost public budget resources and open up investment opportunities for the private sector

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Reading time: 2 MinutesThe Cabinet’s approval of the strategy for developing outdoor advertising within cities has been widely welcomed as a step toward regulating the advertising market and systems, preserving the integrity of the visual landscape, and preventing visual distortions caused by violations related to such advertisements. The Cabinet’s approval of the strategy is part of the Ministry of Municipal and Rural Affairs“ initiatives to implement the ”Saudi Vision 2030” programs. This is intended to enhance the contribution of the item … Read more

The Residential Program announces the signing of 9 agreements with real estate companies to implement and build 2422 housing units in Dammam, Khobar and Al-Ahsa

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Eastern Projects - Real Estate Companies - Residential Projects - Real Estate Finance - Residential Units

Reading time: 2 MinutesThe Sakani Program announced that it has signed nine agreements with various real estate companies to develop and construct 2,422 residential units, including villas, townhouses, and apartments, in Dammam, Al-Khobar, and Al-Ahsa, in the presence of the General Supervisor of the Real Estate Development Agency, Engineer Mazen bin Mohammed Al-Dawood, as part of the program’s efforts to launch more housing projects that meet the needs of Saudi families … Read more

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