Month: September 2020

Almuhaimeed thanks the Minister of Housing

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Photo by Engineer Almuhaimeed - Off-plan Selling - Real Estate

Reading time: < 1 MinuteReal Estate - Engineer Abdulaziz bin Mohammed Almuhaimeed, Deputy Governor of the General Real Estate Authority, Chairman of the Off-plan Sale and Leasing Committee, extended his thanks and appreciation to His Excellency the Minister of Housing, Mr. Majid bin Abdullah Al-Hogail, for his interest and support for the real estate development sector in general and off-plan projects in particular. He praised the ministry's efforts to increase the attractiveness and vitality of the real estate sector and support ... Read more

More than 22 thousand housing finance contracts worth 10 billion riyals in August

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Retail Housing Finance

Reading time: 2 MinutesMortgage Loans - The number of new residential real estate financing contracts during August 2020 rose to 22,121 contracts worth more than SAR 10.1 billion, achieving an estimated growth of 80% in the number of contracts compared to August 2019, which recorded 12,306 contracts, and 94% growth in financing compared to the same month last year by about 5.2 billion, and the number of contracts during the eight months exceeded ... Read more

25% to exempt investors from 25% of rental value for municipal real estate leases

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Municipal Affairs - Rental Properties - Real Estate

Reading time: < 1 MinuteThe Minister of Municipal and Rural Affairs, Majid Al-Hogail, revealed that the approval was issued to exempt investors from paying 25 percent of the rental value of municipal real estate leases for this year, equivalent to three months' rent, stressing that this generous approval comes within the framework of the unlimited support from the state to mitigate the effects of the Corona pandemic on the private sector and protect investors from ... Read more

Developer Services Center approves building permit procedures for 1713 housing units

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real estate - building permits - projects - residential real estate development - projects - schemes - residential projects

Reading time: < 1 MinuteThe Developer Services Center (Et'amam) completed the procedures for licensing the construction of about 1713 housing units on an area of 6.1 million square meters for a number of developers and owners of various housing projects, and the center confirmed the approval of five residential plans with areas exceeding 12.2 million square meters, in a number of regions of the Kingdom during last August. Read more

The digital platforms of the housing program interact with more than 41 thousand inquiries and objections

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Sakany Platform - Real Estate

Reading time: < 1 MinuteReal Estate - The platforms of the “Sakani” program recorded great interaction during the month of September, where about 27 thousand calls were answered, while the number of requests and inquiries that were carried out through the “Sakani” website exceeded 6064 inquiries, and about 1900 objections were processed through the “Raselna” service on the Sakani website. The beneficiary care account (@SaudiHousingCC) interacted on Twitter ... Read more

Residential program offers 2384 plots of land through 8 new residential plans

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Residential Program - Residential Properties - Land - Real Estate Finance

Reading time: 2 MinutesThe Sakani program launched 2384 plots of land through 8 new residential plans through its electronic portal and smart phone application within the residential plans available for land reservation, bringing the total number of plans offered through “Sakani” to 205 plans that provide about 176 thousand land, and the program continues to launch more plans every month within various housing options and solutions that are easily booked electronically, ... Read more

Global agency rankings boost business confidence in Saudi economy

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Real Estate - Deed - Economy

Reading time: 2 MinutesThe Kingdom of Saudi Arabia succeeded in reducing the estimates of the deficit and deflation that hit the world due to the Corona pandemic, and this is an indicator that reflects the great confidence and financial solvency of the national economy, and the credit rating agency “Standard & Poor's” included in a good rating and this good rating ... Read more

General Authority for Real Estate exempts owners' associations from the financial fee to register on the electronic platform

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3500 illegal real estate ads

Reading time: < 1 MinuteThe General Authority for Real Estate announced that it exempted existing and new owners' associations from the financial fee for registration in the unified electronic platform for associations for the current year 2020 and next year, in order to encourage associations to discover the benefits of the electronic platform and its simplified technical facilities that help communicate with members, property managers and facility managers and quick access to innovative real estate services, in addition to preserving the rights of all ... Read more

Almoather REIT acquires an educational property in Riyadh worth SAR 17 million

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Real Estate Fund - Real Estate

Reading time: < 1 MinuteAl Maather REIT has entered into an agreement to purchase a property in the Al Salam neighborhood in Riyadh, and the fund manager said in a statement on the Saudi Stock Exchange (Tadawul) website that the property includes a 10,000 square meter educational facility land located in the Al Salam neighborhood, near the intersection of Abdulrahman bin Ouf Road and Al Shabab Street. For its part, Awsol and Bakhit ... Read more

“State Real Estate Authority confirms work to prevent multiple ownership and issue deeds for old properties

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Public Authority for State Properties - «Lease System» contracts»

Reading time: < 1 MinuteReal Estate - The Governor of the Public Authority for State Properties, Ihsan Bafqih, revealed that the authority has approved the preparation of the general secretariat for the committees that consider applications for ownership, for the benefit of citizens who have old properties. Bafaqih explained during an interview on Al-Ikhbariya channel: ”The Kingdom is working to have title deeds on real estate, and there is no room for multiple ownership, which will return ... Read more

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