Month: August 2020

Reading time: 2 MinutesThe Ministry of Municipal and Rural Affairs will start enforcing the health, technical and safety conditions required in collective housing for individuals in all cities and regions of the Kingdom starting from early September, in an effort to regulate the collective housing sector for individuals and motivate the private sector and property owners to raise housing quality standards and preserve ... Read more

Reading time: 3 MinutesReal Estate - The membership regulation of the Saudi Commission for Certified Valuers has defined the mechanism for evaluating state real estate, investments and government assets. The regulation specified the controls of practicing the profession of evaluation, as the certified evaluator may not practice evaluation work, unless he has practiced the profession for at least 3 years after obtaining the license, and the regulation, which came into effect, required the evaluator to practice the profession ... Read more

Reading time: < 1 MinuteSaudi Tourism Minister Ahmed Al-Khatib praised the updated municipal real estate disposal regulations, describing them as containing solutions to obstacles facing investment in the tourism sector, including raising the rental periods for long-term investments from 25 years to 50 years. Al-Khatib said the regulation was designed to accommodate seasonal needs and open up opportunities for entrepreneurs in local tourist destinations, which ... Read more

Reading time: < 1 MinuteReal Estate - The Ministry of Municipal and Rural Affairs Undersecretary for Planning and Programs, Engineer Khalid Al-Dughaither, confirmed during the press conference for the updated Municipal Real Estate Disposal Regulation yesterday that the ministry is working to lead an institutional structure to raise the efficiency of managing these investments, pointing out that the management and follow-up of the disposal of real estate belonging to municipal affairs is currently the duty of the “Investment Department” located in the municipalities ... Read more

Reading time: 2 MinutesReal Estate - Acting Minister of Municipal and Rural Affairs Majid bin Abdullah Al-Hogail issued a decision approving the executive instructions regulating the updated municipal real estate disposal regulations, as part of the sector's efforts to develop the municipal investment system; with the aim of providing an attractive investment environment to attract quality investments to Saudi cities by providing legislative possibilities to achieve this within a fair and attractive competitive environment that raises ... Read more

Reading time: < 1 MinuteThe President of the Saudi Contractors Association, Engineer Osama Al-Afaleq, warned of the phenomenon of cover-up in the contracting sector as a result of the ease of procedures in it, which made contracting a «profession of those who have no profession,» indicating that it is considered a door of cover-up, as some establishments deliberately open a contracting register to be able to benefit from the percentage of Saudization in this sector, as a large percentage of ... Read more