Month: August 2020

Authorities have established eight guidelines for providing electricity and water services to homes without valid property deeds

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2 - Connecting Electricity Services to Homes - Real Estate

Reading time: 2 MinutesThe competent authorities have established eight new regulations for providing electricity and water services to homes whose owners do not possess legal title deeds, out of humanitarian considerations. The regulations include the provision of services to residences whose owners do not possess legal title deeds or state-approved ownership documents—located in the cities and governorates referred to in Item (I) of Cabinet Decision No. (280) … Read more

“Ijar” Issues Over a Million Standard Lease Agreements… and Moves Toward New Partnerships

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Ejar Network - Documentation of the rental contract

Reading time: 2 MinutesThe number of leases registered by the Ministry of Housing’s “Ijar” program has exceeded one million, ranging from residential to commercial properties, while the number of beneficiaries of the monthly payment option has surpassed 311,000. The program confirmed in a press release that this increase in the number of documented contracts reflects the confidence of the parties involved in the rental process (landlord, tenant, and real estate broker), and their continued submission of proposals and opinions that have added … Read more

The Shura Council's decisions and recommendations are aimed at harmonizing and increasing the supply of housing and establishing transparency in the housing situation

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Shura Council Discusses VAT - Mortgage Loan

Reading time: 2 MinutesThe Shura Council has recently issued several recommendations to address the housing crisis and improve the services provided to citizens, to fulfill the leadership’s vision of streamlining procedures, providing more high-quality products, and expanding a number of programs that address citizens’ needs in the housing sector. Here, we highlight the Shura Council’s most important decisions and recommendations, as well as its key decisions on performance reports. Review … Read more

Ministry of Commerce issues 84,377 business registrations during the first half of 2020

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Ministry of Commerce - Commercial Register

Reading time: < 1 MinuteThe Ministry of Commerce issued 84,377 commercial registrations during the first half of 2020, while the number of trade names submitted during the same period reached 99,109. Abdulrahman Al-Hussein, the official spokesperson for the Ministry of Commerce, explained that the time required to complete the issuance of a commercial registration is 180 seconds from the start of the application until it is issued to individual entities, and upon submission of an application for issuance … Read more

The General Authority for Competition is working on developing a real estate index for land to curb price manipulation

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Real Estate Index - Real Estate Transactions

Reading time: < 1 MinuteUnder the guidance of His Majesty, the General Authority for Competition is working to develop a real estate index for land to curb price manipulation among certain real estate monopolists, starting with Riyadh, The Authority’s Governor, Dr. Abdulaziz Al-Zoum, emphasized that the goal of the index is to ensure that Saudi consumers know, when paying a price per square meter in a particular neighborhood to purchase land or real estate, what services they will receive … Read more

98% Percentage of bookings for Shams Al Diyar project in Al Jawan suburb north of Riyadh

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Shams Al Diyar Residential Project

Reading time: < 1 MinuteResidential Project – Reservations for the “Shams Al-Diyar” project in the Al-Jawan suburb north of Riyadh have reached 981 out of a total of 503 residential units. The project is part of the “Sakani” program in partnership with the private sector,  with a total of 503 residential units. Engineer Mazen bin Mohammed Al-Dawood, General Supervisor of Real Estate Development at the Ministry of Housing, praised the implementation of the system… Read more

Dubai Land Department's real estate transactions exceed AED 606 million

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Dubai Real Estate - Dubai Real Estate Actions

Reading time: < 1 MinuteDubai Real Estate – Real estate transactions at the Dubai Land Department totaled more than 606 million dirhams, with the department recording 103 sales yesterday worth 152.08 million dirhams, including 23 land sales worth AED 70.83 million and 80 sales of apartments and villas worth AED 81.25 million. The most significant land sale, worth AED 9 million, took place in the … Read more

“Ma’mar Al-Mamlakah Investment Company” Launches the “Launge Villa” Project in Northern Riyadh

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Al-Ma'mar Company - Residential Project

Reading time: < 1 MinuteResidential Project – With a capacity of 100 residential units, Ma'mar Al-Mamlakah Real Estate Investment and Development Company launched the first phase of its “Lounge Villa” residential project in northern Riyadh. The event was attended by Essam bin Hamad Al-Mubarak, “Governor of the General Authority for Real Estate,” and Engineer Mazen bin Mohammed Al-Dawood, “General Supervisor of the Real Estate Development Agency at the Ministry of Housing,” with the participation of a select group of Saudi architects. The project was implemented using the … Read more

In the presence of Engineer Abdullah Al-Badeer, the “Douri Jood” initiative handed over homes to a number of beneficiaries

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Joud Housing - Real Estate

Reading time: < 1 MinuteReal Estate – The “Dawri Jood,” launched by the Ministries of Housing and Sports last Ramadan, handed over homes to a number of beneficiaries in the presence of His Excellency the Deputy Minister of Housing, Engineer Abdullah Al-Badeer; His Excellency the Assistant Minister of Sports, Mr. Abdul-Ilah bin Saad Al-Dalak;  the Deputy Minister of Housing, Engineer Ahmed Al-Qaraawi, and Mr. Abdulrahman Al-Suhaibani, Deputy Minister of Sports for Sports Affairs, as well as a number of stars … Read more

Etiqan Real Estate completes preparations for the launch of Shorouk Cities soon

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Mastering the Real Estate Logo Real Estate Contributions

Reading time: < 1 MinuteReal Estate Contributions – Itqan Real Estate has completed preparations to offer the “Madin Al-Shorouk” development in the Al-Ramal neighborhood at a public auction in the coming period, under the supervision of the Real Estate Contributions Committee (Liquidation), The project, which is being marketed exclusively by “Itqan,” is distinguished by its strategic location near a network of major roads: Dammam Road, Janadriyah Road, and Khurais Road, as well as its proximity to government facilities, making it an investment and residential hub … Read more

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