Month: May 2020

Reading time: 2 MinutesNahar Al Sheikh, General Supervisor of Real Estate Regulation at the Ministry of Housing, confirmed that penalties for contracts outside the “Ejar” network could reach 25,000 riyals, or result in the closure of the facility for less than a year, or the permanent revocation of the license, in accordance with the provisions of the Real Estate Agencies Regulation. He emphasized that the program aims to regulate the rental real estate sector without seeking to impose penalties … Read more

Reading time: < 1 MinuteThe Enforcement and Liquidation Center “Enfaaz” has called on certified public accountants, lawyers, appraisers, engineering and consulting firms, property custodians and managers, judicial treasury officials, and licensed sales agents, both inside and outside the Kingdom, to register on the platform via its website. The initiative aims to ensure that creditors and heirs receive their due rights, in addition to increasing private sector participation in sales and liquidation activities. The Minister of Justice … Read more

Reading time: 2 MinutesThe Ministerial Committee, composed of Their Excellencies the Ministers of Industry of the member states of the Gulf Cooperation Council (GCC), adopted the recommendation of the GCC Standing Committee for Combating Harmful Practices in International Trade, to impose definitive anti-dumping duties for a period of five years on imports into GCC countries of ceramic and porcelain tiles originating in or exported from the People’s Republic of China … Read more

Reading time: 2 MinutesThe warranty period is 10 years, starting in Riyadh for a period of 6 months. Majid bin Abdullah Al-Hogail, Acting Minister of Municipal and Rural Affairs, has outlined four phases for implementing the Cabinet’s decision requiring contractors to provide insurance against hidden defects that appear in buildings andstructures after they are put into use, whether structural or otherwise, as follows: The first phase begins on the date of … Read more

Reading time: 2 MinutesThe Saudi Center for Commercial Arbitration plans to launch a new, comprehensive product called “Emergency Mediation During the COVID-19 Pandemic,” in partnership with the Conciliation Center, Dr. Hamid Mira, CEO of the Center, explained during a remote panel discussion organized by the Saudi Center for Commercial Arbitration that one of the features of this product is the complete waiver of registration fees for all cases during this crisis, as well as the implementation of … Read more