Month: August 2020

Adeer Real Estate and Tasfeeha launch the sale of Airport Jewel“

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Airport Jewel Dammam - Residential Scheme

Reading time: < 1 MinuteResidential Scheme - Adeer Real Estate Company (the exclusive marketer of the Airport Jewel scheme) has launched the sale of the scheme under the supervision of the Real Estate Contributions Committee (Tasfeeha), which has started receiving offers for direct sales. Tasfeeha has set mid-September as the deadline for the receipt of purchase requests at its headquarters. The plan spans an area of more than 10 million square meters and is an approved residential ... Read more

SMO Real Estate signs a contract to develop the second area of the Khiala residential project in Jeddah

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Khiala Residential Project - Real Estate - National Housing

Reading time: < 1 MinuteReal Estate - SMO Real Estate Company has signed a sub-development agreement with the National Housing Company to develop the second area of the Khiala residential project located in the Hamdaniya neighborhood in Jeddah, which includes building 404 villas on the Ministry of Housing lands allocated to the company with an area of approximately 105 thousand square meters to be sold through the off-plan sales system. The engineer stated ... Read more

“Sakani” program provides more than 258 thousand e-services to citizens during a week

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Real Estate - Residential announces the delivery of 11,000 residential plots

Reading time: < 1 MinuteReal Estate - The “Sakani” program recorded the provision of more than 258,000 various electronic services to citizens during the past week, through its various digital platforms, as part of the program's continuous efforts to facilitate the ownership of Saudi families and continue to provide services remotely with easy and facilitated procedures that save effort and time for the beneficiaries of “Sakani”. The “Sakani” website provided more than 9,500 services and answers to citizens' inquiries ... Read more

«Enforcement and Wafi sign cooperation agreement to address real estate projects when they stumble

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Wafi & Enforcement - Off-plan Sales

Reading time: 2 MinutesThe Center for Attribution and Liquidation «Enforcement» and the Off-Map Sale Committee «Wafi» signed a joint cooperation agreement that allows the committee to use “Enforcement” to deal with real estate projects licensed for sale on the map in the event of their failure by assigning them to the center to supervise their liquidation; with the aim of ensuring and preserving the rights of all contracting parties in the project from buyers, companies and financing bodies, the center was represented by the CEO ... Read more

“Zakat and Income Tax” invites taxable establishments to submit their returns for the months of April and July

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VAT returns

Reading time: < 1 MinuteThe General Authority for Zakat and Income Tax (GAZT) has called on establishments subject to the application of value-added tax (VAT) whose annual supplies exceed SAR 40 million to submit their tax returns for the past two months of April and July, no later than August 31st. The Authority urged taxpayers to expedite the submission of their tax returns through its website to avoid the penalty for failure to submit the return ... Read more

168.3 million riyals worth of sales Basma succeeds in organizing the Al Waseel Auction

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Real Estate Auction - Basma Company

Reading time: < 1 MinuteReal Estate Auction - Basma Real Estate Company revealed that the value of the sales of the Al-Wasil auction it organized last Wednesday amounted to about 168.3 million riyals, where three properties were bid on, and the company's experience in organizing the auction publicly and electronically found great praise from leaders in the real estate sector. The auction witnessed great competition from businessmen, as the final outcome of the sales was ... Read more

Investment Fund Launches ROSHN Real Estate to Develop Urban Neighborhoods

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Real estate investment

Reading time: < 1 MinuteReal Estate Investment - Last week, the Public Investment Fund (PIF) launched Roshan Properties, a national company specialized in the development of urban neighborhoods. Roshan Properties will focus its efforts on contributing to the development of the housing sector by developing integrated neighborhoods in line with the best standards applied in this strategic sector, and will also contribute to the localization of best practices and global technologies, in order to ... Read more

Editor-in-Chief Abdulaziz Al-Issa writes: Issue 200 ... Continuity and ambition

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Reading time: 2 MinutesThe real estate newspaper «Amlak» passed its thirteenth year, dedicating to the library of the real estate sector two hundred issues of continuous publication before it was published electronically in 2008, and it took upon itself to build a bridge through which businessmen and investors cross to their goals and ambitions according to an ideal partnership between the newspaper and the economic community, which celebrated the first issue in May 2010 as the first newspaper ... Read more

Claims to exempt first home land VAT paralyzes buying and selling of residential land

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Added Tax - Residential Land

Reading time: < 1 MinuteReal estate professionals and specialists confirmed the strong impact of the increase in VAT to 15% on the real estate sector, especially the land market, and pointed out that they find it very difficult to complete sales operations to increase costs on the consumer who bears the tax, explaining that the cessation of selling and buying land directly affects the cessation of the contracting, building and construction sectors of all kinds, which casts a shadow on ... Read more

“Contractors Authority to launch model contracts before the end of the year

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Contracting Sector Protocol - Projects

Reading time: < 1 MinuteThe President of the Saudi Contractors Association, M. Osama Al-Afaleq revealed that the model contracts will be launched before the end of this year, and the model contracts will be a reference to preserve the rights of all parties (payments, evaluation, disputes), and 25 model contracts have been identified to cover many contracting activities, confirming that the contracts have been finalized and are ready, and working on an electronic system for model contracts, similar to “Ijar” contracts ... Read more

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