Month: August 2020

141 families benefited from the “Joud Mabrour” campaign to provide adequate housing for the neediest families

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Good Mabrour Al Maskan campaign

Reading time: < 1 Minute141 families benefited from the “Joud Mabrour” campaign launched by the Joud Housing platform to provide adequate housing for the most needy families during the first ten days of Dhu al-Hijjah, where 920 individuals benefited from the campaign, while 49 families were able to own a home. According to “SPA”, “Joud Eskan” provided citizens with the opportunity to contribute to providing housing for the deserving by adopting giving opportunities ... Read more

“Zakat & Tax issues a guidebook to introduce VAT for individual properties

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Residential mortgage financing for individuals

Reading time: < 1 MinuteReal Estate - The General Authority for Zakat and Income Tax (GAZT) has issued a guide to introduce the Value Added Tax (VAT) for Individual Real Estate, indicating the real estate products and supplies subject to it, as well as the cases excluded from it, enabling individual real estate owners to voluntarily comply with the provisions of VAT in the Kingdom of Saudi Arabia. The publication of the guide follows the launch of the “VAT for Individual Real Estate” service in cooperation with the Ministry of Justice, ... Read more

Real estate fund established to develop the new waterfront at Dana Bay Resort

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Establishing a real estate fund

Reading time: 2 MinutesDana Bay Tourism Company and SMO Holding have signed a memorandum of understanding to establish a real estate fund to develop a new marine destination in Dana Bay Resort on an area of 82,000 square meters. The project will be located in the 2.8 million square meter Dana Bay Resort, which includes resorts, hotels, a water park, entertainment destinations, as well as land for building mansions and villas. Read more

The volume of credit provided to the private sector through Saudi banks rose to 1.61 trillion riyals

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Retail Housing Finance

Reading time: < 1 MinuteReal Estate Loans - The volume of credit provided to the private sector through banks operating in Saudi Arabia increased by the end of June of this year to 1.61 trillion riyals, a growth rate of 13.2 percent year-on-year, compared to 1.42 trillion riyals for the same period, with net lending amounting to 188 billion riyals. The growth in lending coincides with the significant decline in interest rates during ... Read more

“Residential” program allows reservations in Hittin Villas project in Buraydah

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Hateen Villas Project - Residential Unit

Reading time: < 1 MinuteThe Ministry of Housing's “Sakani” program has made it possible to register and book online reservations in the Hittin Villas project in Buraydah, and called on families wishing to own a home to visit the Sakani website and application to view the details of the 142 housing units. The project is located in the west of Buraydah city in an integrated neighborhood close to King Fahd Road on an area of 64,302 ... Read more

Widely welcomed approval of water and sanitation tariffs

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Residential Water Connections

Reading time: 3 MinutesMr. Osama bin Hassan Al-Afaleq, Chairman of the Board of Directors of the Saudi Contractors Association, said that the approval of the Council of Ministers to determine the financial compensation for the delivery of water and sewage to the commercial, industrial and government sectors and those wishing to expedite this service from the beneficiaries in the residential sector will have a major role in clarifying the vision for those wishing to benefit from these services and keep them away from fluctuating prices ... Read more

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