Month: July 2020

The General Authority for State Real Estate Approves the Leasing of Properties Worth More Than 200,000 Riyals to Government Agencies

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Rental Properties - Real Estate - Real Estate - Real Estate Funds - Rental - Licensing -... Real Estate Deals - Real Estate Exchange

Reading time: < 1 MinuteReal Estate Leasing – The General Authority for State Real Estate announced that it has approved the leasing of properties valued at more than 200,000 riyals by government agencies, and called on the relevant agencies to coordinate with it and obtain its approval prior to leasing, It also emphasized the need to comply with the state’s regulations on leasing and vacating real estate, noting that government agencies may lease real estate only in cases of urgent need, and that the lease must be in accordance with… Read more

“The ”Zakat and Income” Authority Sets August 16 as the Deadline for Registering Sold Properties to Complete the Transfer Process

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

Reading time: < 1 MinuteReal Estate Tax – The General Authority for Zakat and Income Tax has announced a service to determine the taxable value of individuals’ real estate to facilitate the payment of the required tax liability upon the sale of the property through simple steps, thereby safeguarding the rights of both the seller and the buyer prior to the transfer of title at the Ministry of Justice. Registration mandatory for completing the title transfer process starting August 16. In addition, a number of economists and investors in … Read more

556 villas... Majid Al Haqeel inaugurates the Taj Al Musaif housing project in Taif Governorate

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The Minister of Housing inaugurates the

Reading time: < 1 MinuteMajid Al-Hogail, Minister of Housing, inaugurated the Taj Al-Maseef housing project—located in Taif Governorate and comprising 556 villa-style residential units—via video conference yesterday. The project is one of several currently under construction and provided by the “Sakani” program in partnership with the private sector. During the launch, he emphasized that the Ministry of Housing, through the “Sakani” program, is committed to providing various … Read more

“The ”Pension Fund” and the ”Mortgage Refinancing Company” sign an agreement to purchase the rights to a mortgage portfolio worth 3 billion riyals

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Mortgage Financing - Pension Fund

Reading time: < 1 MinuteIn the largest deal in the Kingdom’s residential mortgage refinancing market, the Public Pension Agency and the Saudi Mortgage Refinancing Company announced the purchase of rights to a mortgage financing portfolio valued at over 3 billion riyals, with the aim of increasing the capacity of the Foundation’s “Masaken” to achieve its objectives as part of the PPSA’s strategic plans to provide innovative solutions for subsidized mortgage financing to meet the needs of citizens and increase … Read more

The size of the franchise market in Saudi Arabia is estimated at more than one billion dollars. 300 foreign companies hold the trademark

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Franchise Market

Reading time: 2 MinutesA webinar organized by the Eastern Province Chamber of Commerce—held virtually—entitled “Franchising… Your Gateway to Investment” revealed that more than 300 foreign companies hold franchises in the Kingdom, Speakers at the seminar estimated that the size of the franchise market in the Kingdom is valued at more than one billion dollars, and that the annual growth rate of commercial franchising in the Kingdom ranges from 10% to 12%. Support for the franchise program and during … Read more

Saudi consortium to develop infrastructure for international airport in Red Sea project

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Red Sea Project Real Estate Development

Reading time: < 1 MinuteReal Estate Development – A consortium consisting of Nesma & Partners Contracting Co., Ltd. and General Buildings Contracting Co. plans to develop the air traffic infrastructure at the Red Sea International Airport project. This follows its award of the development contract, which is the largest among those awarded by the Red Sea Development Company to date. The two companies will design and develop the main “Runway F,“ which is 3,700 meters long, “Runway B,” designated for seaplanes, and helipads… Read more

Engineer Al-Badeer Affirms Continued Development of Integrated Housing Projects and Plans in Partnership with the Private Sector

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Residential Projects—Engineer Abdullah bin Muhammad Al-Badeer

Reading time: < 1 MinuteEngineer Abdullah bin Mohammed Al-Badeer, Deputy Minister of Housing, affirmed the continued rollout of integrated housing plans and projects in partnership with the private sector, as well as efforts to strengthen and develop the housing system and the various services it encompasses. He emphasized that the ministry continues to work on providing all the facilities and solutions that help enable citizens to become homeowners. The Deputy Minister of Housing noted that the sector … Read more

The Public Investment Fund Invests $85 Billion in 20 Companies Listed on “Tadawul”

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Public Investment Fund Profits - Investment - Investment Opportunities

Reading time: < 1 MinuteInvestment – The Public Investment Fund revealed that it has invested $85 billion in 20 companies listed on ”Tadawul.” The fund is working to diversify its investment portfolio; the Public Investment Fund has invested approximately $84.9 billion in shares of 20 companies listed on the Tadawul stock exchange across various key sectors.” The fund’s investments represent 1.72 percent of Tadawul’s market capitalization, according to data from July 5, 2020, … Read more

Mutual funds play a vital role in accelerating real estate recovery

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Abu Dhabi - Abu Dhabi real estate app - UAE real estate - real estate investment

Reading time: 2 MinutesReal Estate Investment – Reports have revealed that investments managed by institutions and investment funds in the UAE are playing a major role in accelerating the recovery of vital economic sectors such as real estate. The growth in this category of investments was evident in the increasing inflow of foreign direct investment into the UAE market, which totaled approximately $14 billion in 2019, representing a 34% increase compared to 2018 … Read more

Isa Al-Isa writes: Will real estate liquidity spill over into the stock market?

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Al-Issa's Article on Real Estate and Stocks

Reading time: 2 MinutesThe real estate and stock market sectors account for the lion’s share of domestic individual investments, as they are characterized by ease of management and monitoring. Investments often shift between these two sectors, as the stock market boom in early 2003 drew liquidity away from real estate, plunging it into a period of severe stagnation and inactivity from which it did not emerge until after the 2006 stock market crash, at which point … Read more

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