Month: July 2020

Reading time: < 1 MinuteThe Ministry of Housing's real estate units sorting program revealed that the number of real estate units sorted during the first half of this year reached 19,382 real estate units, achieving a growth rate of more than 82% compared to the first half of 2019, which amounted to 10,640 real estate units. The program comes within the real estate regulation programs of the Ministry of Housing, as it helps ... Read more

Reading time: < 1 MinuteThe Saudi Arabian Monetary Agency (SAMA) revealed that housing finance contracts for the first half of this year 2020 exceeded 131 thousand contracts provided to individuals from banks and financial institutions, with a growth of 92% compared to the first half of last year 2019, which recorded about 68,520 financing contracts worth 31,381 billion riyals, and the volume of financing grew to 61,217 billion until June ... Read more

Reading time: < 1 MinuteThe Real Estate Development Fund revealed that the total amount deposited in the accounts of “Residential” beneficiaries since June 2017 until July 2020 exceeded 22.4 billion riyals, while more than 578 million riyals were deposited in the accounts of citizens from the beneficiaries of the “Residential” program from the Ministry of Housing and the Real Estate Development Fund for the month of July, including 482 million riyals allocated to the profits of subsidized mortgage contracts. He pointed out ... Read more

Reading time: < 1 MinuteThe Ministry of Housing's “White Land” program revealed the completion of the development of land subject to fees by its owner, providing 840 residential plots, located on an area of more than (500) thousand square meters. The program aims to end monopolistic land practices and contribute to creating a balanced real estate market, as the current phase is concerned with undeveloped land with an area of 10 ... Read more

Reading time: 2 MinutesHis Excellency the Acting Minister of Municipal and Rural Affairs, Mr. Majid bin Abdullah Al-Haqeel, has approved the health, technical and safety conditions required for collective housing for individuals in all cities and regions of the Kingdom, starting from the beginning of next September, in an effort to regulate the sector of collective housing for individuals and stimulate the private sector and property owners to raise housing quality standards and preserve the rights of ... Read more

Reading time: < 1 MinuteThe off-plan sales and leasing program “Wafi” announced the approval of 9 thousand residential unit licenses under construction during the first half of this year 2020, distributed in 19 projects around the Kingdom, including six projects for small and medium enterprises, in addition to a number of initial approvals for other real estate projects that are completing their statutory procedures in preparation for issuing their final licenses to pump more than 35 ... Read more