Month: June 2020

Public Authority for State Properties to soon launch initiatives to boost revenues and realize national benefits

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Public Authority for State Properties - «Lease System» contracts»

Reading time: < 1 Minute”The General Authority for State Real Estate intends to launch further important strategic initiatives that will contribute to boosting non-oil revenues and yield significant national benefits." Ihsan bin Abbas Bafqih, Governor of the Authority, explained that the launch of these initiatives will improve citizens’ quality of life and support government agencies by providing facilities that meet global best practices in the workplace, thereby enabling these … Read more

Al Ahli Bank and Samba Financial Group to merge the two banks

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National Bank - Sukuk - Bank

Reading time: 2 MinutesAl-Ahli Commercial Bank signed a framework agreement today, Thursday, with Samba Financial Group, under which the two banks will begin the necessary due diligence studies and negotiate the final, binding terms regarding a potential merger between them. The two banks have bindingly agreed to the following: – If it is decided to proceed with the potential transaction, it will be completed through a merger, with Al-Ahli Bank serving as the acquiring bank … Read more

Emir of Tabuk hands over the first installment of compensation to NEOM property owners“

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Delivery of NEOM real estate compensation

Reading time: < 1 MinuteHis Royal Highness Prince Fahd bin Sultan, Governor of the Tabuk Region, presented the first batch of financial compensation to dozens of property owners whose properties fall within the scope of the first phase of the «Neom» project, During a reception for the compensation recipients, Prince Fahd noted that His Royal Highness Crown Prince Mohammed bin Salman had ordered that each recipient be granted a plot of land and a ready-to-move-in home free of charge, whether … Read more

Minister of Justice outlines 6 controls to abolish the spatial jurisdiction of notaries and notary publics

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Ministry of Justice - Ministry of Justice - Real Estate - Lease - Emptying Real Estate - Real Estate - Commercial Cases - Real Estate

Reading time: < 1 MinuteHis Excellency the Minister of Justice and Chairman of the Supreme Judicial Council, Sheikh Dr. Walid bin Muhammad Al-Samaani, directed the abolition of territorial jurisdiction for all notary offices and notaries in accordance with a set of regulations, following an evaluation of the pilot phase of the initiative in Riyadh.The guidelines for abolishing territorial jurisdiction—in accordance with His Excellency the Minister’s directive—stipulate that instruments issued under the Comprehensive Wealth Information System … Read more

The Developer Services Center (Etmam) approves 10 housing projects and finalizes procedures for 14,000 housing units

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real estate - building permits - projects - residential real estate development - projects - schemes - residential projects

Reading time: < 1 MinuteLast May, the Developer Services Center (Etmam) approved 10 residential projects covering more than 35 million square meters across various regions of the Kingdom, and finalized building permit applications for more than 14,000 housing units in Dammam, Madinah, and Jeddah, and issued qualification certificates to 16 real estate developers, in addition to completing the procedures for employment endorsement applications for approximately 3,500 workers in projects … Read more

A rental program that allows contracts to be documented through the “Sakani” mobile app

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

Reading time: < 1 MinuteThe Ministry of Housing’s “Ijar” program announced the launch of a feature enabling users in the real estate rental sector to approve and review lease agreements via the “Sakani” mobile app. Landlords and tenants can now view the details of lease agreements via the “Sakani” app before approving and completing the notarization process. This additional option simplifies the contracting procedures on the Ejar network, as … Read more

Riyadh Chamber organizes a free training course entitled (Introduction to Real Estate Valuation) Next Monday

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Riyadh Chamber - Businessmen Ceremony

Reading time: < 1 MinuteThe Riyadh Chamber of Commerce plans to train 3,000 young men and women in the real estate sector through a free, remote training course organized by the Chamber’s Real Estate Committee, titled “Introduction to Real Estate Appraisal,” next Monday, June 29, 2020, from 5:00 to 6:30 p.m., in partnership with the Saudi Authority for Certified Appraisers. A board member and chairman of the Real Estate Committee explained… Read more

«Amlak publishes the most important features of the executive regulations of the real estate ownership and sorting system A technical guide to the technical criteria for sorting and re-sorting

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Real Estate Sorting Regulation

Reading time: 2 MinutesHousing Minister Majid Al-Hogail issued his approval of the executive regulations for the Law on the Ownership, Division, and Management of Real Estate Units, which was approved by the Council of Ministers at the end of last February, The regulations consist of six chapters and forty-one articles, allowing any landowner with a title deed that meets legal and regulatory requirements to construct a building on the land and subdivide it into independent units, and granting the owner the right to issue a title deed … Read more

Al-Ajlan is Chairman of the Board of Directors of Riyadh Chamber Al-Murshid and Al-Rajhi are vice presidents Ibn Al-Sheikh is a representative in the Council of Chambers

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Ajlan - Riyadh Chamber - Contracting

Reading time: < 1 MinuteThe Board of Directors of the Riyadh Chamber of Commerce unanimously elected Ajlan bin Abdulaziz Al-Ajlan as chairman of the board for its 18th session, Mohammed bin Abdullah Al-Murshid and Nayef bin Abdullah Al-Rajhi were also elected as vice-chairmen, while Engineer Ibrahim bin Abdulrahman Ibn Sheikh was elected as the Chamber’s representative to the Council of Saudi Chambers. On this occasion, Al-Ajlan expressed his deep gratitude to his fellow members for their trust … Read more

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