Month: July 2020

Riyadh Municipality invites some landowners in the Nammar plan to write to the Municipality to expropriate and replace the identified lands

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Riyadh - Real Estate in Riyadh - Trade Names System

Reading time: < 1 MinuteThe Riyadh Municipality invited some landowners in the Namar 3020 plan west of Riyadh to write to the Municipality to expropriate and replace the specified lands, and to submit the necessary papers and documents through the website of the Riyadh Municipality, which provides the service of registering the data and details of the owned property in order to estimate the value of the property for expropriation for public benefit within the land schemes of the city of Riyadh. The site specified ... Read more

Riyadh Municipality takes legal action against those who contributed to the circulation of official documents and land without its permission

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Land - Riyadh Municipality-min (1)

Reading time: < 1 MinuteThe Riyadh Municipality revealed that it will take legal measures against those who contributed to the circulation of an official document related to land use in the capital without its permission, which is considered a criminal behavior according to the regulations and falls within the scope of information crimes, in reference to the circulation of one of the circulated maps that were not officially published. The Municipality emphasized that it is committed to dealing transparently in publishing information ... Read more

The Public Investment Fund reveals that its assets in international impact sectors have reached $360 billion

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Public Investment Fund Profits - Investment - Investment Opportunities

Reading time: < 1 MinuteInvestment opportunities - The Public Investment Fund revealed that its assets in internationally influential sectors amounted to 360 billion dollars, which means an increase of 137 percent, in about four and a half years, bringing it closer to achieving the target in the National Transformation Program, which is that its assets reach 400 billion dollars in 2020. The fund emphasized that it is working to diversify investment and expand ... Read more

Riyadh Municipality offers 73 investment opportunities to the private sector to improve the quality of services

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Investment Opportunities - Riyadh Municipality

Reading time: < 1 MinuteInvestment opportunities - Riyadh Region has announced the launch of 73 investment opportunities in commercial, educational, health, entertainment, banking and banking activities, in addition to a number of supporting services, in an area of more than 274 thousand square meters, including commercial, service and entertainment activities, representing the second set of opportunities for 1441/1442 AH, with the aim of enabling the private sector to contribute to improving the quality of ... Read more

Ministry of Commerce launches new draft company law for stakeholders to express their opinions and suggestions

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Ministry of Commerce - Commercial Register

Reading time: 2 MinutesBusiness News - The Ministry of Commerce and the Capital Market Authority (CMA) The Ministry of Commerce and the Capital Market Authority invited interested parties and the public to express their views and suggestions on the new draft Companies Law, via email ([email protected]), before August 13, 2020. The Ministry said that this initiative aims to develop the legislative system for companies, in light of investigating the results of applying its provisions, and the difficulties that have emerged among companies and the business community, and guided by ... Read more

Shura Council calls on the General Authority for Real Estate to study the impact of VAT on the sector

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Shura Council Discusses VAT - Mortgage Loan

Reading time: 2 MinutesThe Housing and Services Committee, in the Shura Council, called on the General Authority for Real Estate to follow up and monitor the activity of the real estate market to know the extent of the impact of the application of value-added tax on it, and pointed out that the real estate market is vulnerable to the regulations and decisions taken by the government in order to develop systems and diversify sources of income, so it is necessary to monitor the extent of the impact of the application of value-added tax on the movement of this ... Read more

Abdulmalik Al-Darwish writes: Fair solutions for the tenant and landlord in light of the Corona crisis

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Rental Properties

Reading time: 2 MinutesRenting real estate : The real estate market is going through a sensitive juncture in light of the repercussions of the Corona pandemic, as there has been a lot of disagreement between landlords and tenants about the rental value during this period, and here I would like to clarify a number of important points in this regard: Logic says that the landlord must compensate the tenant for the days he stopped working, the tenant must prove the damage, ... Read more

Jadwa Investment Reports expects the implementation of the VAT hike to affect inflation rates

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Shopping - VAT

Reading time: 2 MinutesJadwa Investment Company, which specializes in research, issued a recent report predicting the impact of the implementation of the VAT increase on inflation rates, indicating that purchasing power increased in May and June despite the lockdown and Corona pandemic measures, while prices in the transportation category fell during the same period by 5.8 percent, mainly influenced by falling gasoline prices. The rate of ... Read more

Ministry of Housing: SAR 6 billion worth of purchase contracts for more than 9300 housing units in residential projects during the first half

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

Reading time: 2 MinutesThe Ministry of Housing revealed that the number of contracts for the purchase of residential units under construction exceeded 9300 contracts from residential projects worth more than six billion riyals during the first half of this year, an increase of 295% percent from the same period last year, and the units are part of the ministry's partnership with real estate developers, whose number exceeds 60 developers ... Read more

Conditions and requirements for a judicial sales agent «auctioneer» The licensee must document his work procedures and keep a copy of them for at least five years

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judicial sales agent. Real estate auction

Reading time: 2 MinutesReal Estate Auction - Practicing the profession of a judicial sales agent requires several conditions that must be met by the person who wants to become an authorized auctioneer, and after meeting the requirements, he must attach documents and documents supporting the application, and a financial guarantee of one hundred thousand riyals unconditional and indefinite, issued by a local bank, and returned to its owner in the event of the expiration of ... Read more

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