Month: October 2020

31,000 families benefited from housing options under a housing program in September 2020

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Housing Projects - September Report

Reading time: 2 MinutesHousing Projects – Last week, the Minister of Housing, Majed Al-Hogail, revealed last week that more than 31,000 families benefited from housing options under the housing program during September 2020, noting that the number of Saudi families who moved into their homes last month reached 12,230. Al-Hogail stated on his Twitter account regarding the total number of beneficiaries of the options … Read more

Dr. Mons Shujaa writes: Amending the real estate tax supports the citizen and stimulates the real estate market

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Amlak Brave Mons Tax

Reading time: 2 MinutesThe recent royal decree issued by the Custodian of the Two Holy Mosques—may God preserve him—was nothing less than a reaffirmation of the wise leadership’s commitment and concern to harness everything that serves the public interest of the nation and its citizens, The royal decree, consisting of ten main points, came as a result of the leadership’s monitoring of the economic impact of the real estate value-added tax and its effect on citizens’ lives and their ability … Read more

Aqalat was established by Saudi Telecom Company (STC) to develop and manage the company's real estate properties throughout the Kingdom

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Real Estate - Aqalat Company

Reading time: 2 MinutesAqalat is a limited liability company established in 2013 by Saudi Telecom Company (STC) to develop and manage the company’s real estate properties throughout the Kingdom; it is headquartered in the capital, Riyadh. In line with the Kingdom’s Vision 2030 and global trends, we at «Aqalat» seek to leverage the capabilities of the Saudi Telecom Group and its applications by adopting a smart development concept centered on … Read more

Abdulaziz Al-Awad: New Investment Pathways to Strengthen the Partnership Between the Private Sector, Developers, and Mortgage Lenders

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Abdulaziz Al-Awad: Investment of the Transaction Tax

Reading time: 2 MinutesInvestment – Mr. Abdulaziz bin Nasser Al-Awad, CEO of Aaji Real Estate, predicted that the decision to impose a real estate transaction tax would be one of the key factors accelerating the return of capital to the real estate sector after it had withdrawn from it, noting that this decision will have a positive impact by increasing the real estate supply and revitalizing related sectors. Al-Awad emphasized that the decision … Read more

Experts and Specialists: The Real Estate Transaction Tax Boosts Activity in the Real Estate Sector and Breaks the Stagnation

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Real Estate Transaction Tax Surveys

Reading time: 2 MinutesIn a survey conducted by the real estate newspaper «Amlak,» a number of experts and specialists affirmed that the decision to impose a real estate transaction tax—amounting to 5% of the property’s value— will boost activity in the real estate sector and break the stagnation that has plagued sales due to the 15% value-added tax, They noted that the coming period will see intense activity in increasing the supply of residential units, in addition to the injection of … Read more

Advanced steps for projects... Al Zahia, Al Jawhara in Riyadh, Nargis View Marina, and Park View«

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Housing Projects Companies News Issue 204

Reading time: 3 MinutesAl Zahia Complex Lays the Cornerstone for the «Al Yasmin» Neighborhood in Sharjah Al Zahia Complex laid the cornerstone for the «Al Yasmin» neighborhood, which is characterized by luxury and sustainability, in a step toward the full completion of development operations, The neighborhood features more than 200 residential units, including villas and 2- and 3-bedroom townhouses, surrounded by green spaces and offering breathtaking views of upscale parks, blending seamlessly with the surrounding neighborhoods… Read more

Abdulaziz Al-Issa writes after the implementation of the real estate transaction tax: The real estate market is on track

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333 Abdulaziz Alissa - Riyadh Chamber - E-commerce - Real Estate Market

Reading time: 2 MinutesIt has become clear that indicators in the real estate sector are moving in the right direction in addressing the distortions that arise from time to time; as a result, in previous periods, real estate professionals had come to accept the stagnation and uncertainty that had long plagued the sector, However, following the issuance of the Royal Decree exempting real estate transactions from value-added tax (15%) and the enactment of the real estate transaction tax… Read more

Al Suwaid: The Saudi Contractors Authority categorizes the contractor and clarifies his technical capabilities

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Al Suwaidan - Contracting Rating -1

Reading time: < 1 MinuteConstruction – A press conference held by the Ministry of Municipal and Rural Affairs following the launch of the «City Service Provider Classification Program» revealed that the construction sector is one of the most widespread sectors in the Kingdom and is classified into 350 sub-sectors.  On the sidelines of the conference, Engineer Thabit Mubarak Al-Suwaid, Secretary-General of the Saudi Contractors Authority, confirmed that the Authority is responsible for the technical evaluation of contractors, … Read more

The implementation of the real estate transaction tax creates an attractive investment environment for capital

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Real Estate Market - Real Estate Transaction Tax - 1

Reading time: < 1 MinuteExperts Expect Increased Supply and a Real Estate Market Recovery A number of real estate experts have revealed that the coming period following the implementation of the real estate transaction tax will see the launch of more high-quality projects with diverse specifications, emphasizing that the real estate market will see a significant increase in the supply of residential units, in addition to the development of land and its conversion into residential properties. The experts surveyed by «Amlak» explained the advantages … Read more

Al Zahia breaks ground on Sharjah's Al Yasmeen neighborhood. The neighborhood is home to 800 families

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2 Al Yasmeen Neighborhood - Emirates Real Estate

Reading time: < 1 MinuteEmirates Real Estate – The “Al Zahia” complex laid the cornerstone for the ”Al Yasmin” neighborhood, which is characterized by luxury and sustainability, in a step toward the full completion of development operations. The neighborhood features more than 200 residential units, including villas and 2- and 3-bedroom townhouses, surrounded by green spaces and offering breathtaking views of upscale parks, seamlessly integrating with the other residential neighborhoods within the “Al Zahia” complex. … Read more

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