Month: October 2020

Delivery of ready-made villas in 18 residential projects in different regions

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Al Waha Dammam - Residential Projects

Reading time: < 1 MinuteHousing Projects – In September, 18 housing projects across 10 different regions of the Kingdom saw the handover of a number of ready-to-move-in villas to beneficiaries who had completed the reservation process and signed the final contract. The “Sakani” program explained that the delivery of the ready-to-move-in villas took place in housing projects (Al-Dawadmi, Al-Zulfi, Thadig) in the Riyadh region, the Al-Khurma housing project in Makkah, and housing projects (Buraidah, Unaizah, … Read more

The Human Resources Development Fund Approves Four Improvements to the “Employment Support” Program”

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Human Resources Fund - Recruitment

Reading time: < 1 MinuteThe Human Resources Development Fund (Hadaf) has approved four new improvements to the eligibility criteria for the “Employment Support“ program, including lowering the minimum wage for employees eligible for support from 4,000 riyals to 3,200 riyals, the provision of an additional 10% subsidy for affected activities, as well as an additional 10% subsidy for several other targeted professions, in addition to the inclusion of employees who have … Read more

The Shura Council Approves Updates to the Real Estate Development Fund Regulations

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Shura Council - Real Estate

Reading time: < 1 MinuteReal Estate – The Shura Council approved an update to the Real Estate Development Fund regulations, and the Council noted the importance of the Fund keeping pace with the changes that have occurred in the Kingdom’s real estate sector. A report by the Shura Housing Committee indicated that, due to various factors, the Fund faced difficulties and obstacles that prevented it from continuing at the same pace, which necessitated a review of the Fund’s administrative and regulatory status so that it could regain its activity and vitality and resume contributing … Read more

The Residential Program enables the issuance of construction permits electronically

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Building Permit Service

Reading time: < 1 MinuteThe Ministry of Housing’s “Sakani” program has made it possible to issue building permits electronically to beneficiaries of the standard engineering design service for the self-build option on land within “Sakani,” which was recently launched for citizens wishing to build on their land using a selection of designs from leading engineering firms, as part of the diverse services offered by the “Sakani” app and website to facilitate home ownership for Saudi families … Read more

Al Ahli Bank and Samba Financial Group merge to create a powerful regional financial institution

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National Bank - Sukuk - Bank

Reading time: < 1 MinuteThe combined bank’s assets are estimated at 837 billion riyals. The assets resulting from the merger of Al-Ahli Bank and Samba Financial Group amount to approximately 837 billion riyals, and the merged bank will become the largest bank in the Kingdom, with a market capitalization of 171 billion riyals. The agreement signed between the two parties for the merger revealed that the new bank’s loan portfolio will reach 468 billion riyals, equivalent to … Read more

The General Authority for Zakat and Income clarifies procedures for paying real estate transaction tax

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Hagarat - Steps for Paying Real Estate Transaction Tax - Real Estate

Reading time: < 1 MinuteReal Estate – The General Authority for Zakat and Income has clarified that the procedures for paying real estate transaction tax involve steps specific to the Authority and others specific to the Ministry of Justice. It added that the procedures specific to the Authority begin with the following steps: – Visit the Authority’s website and select the Real Estate Transaction Tax service. – Enter the seller’s information and the deed or contract number. – Disclose the nature and type of the property. … Read more

Residential program: 23 thousand housing units in Riyadh projects. And the average reservations exceeded 61%

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Residential Real Estate - Housing Subsidies

Reading time: < 1 MinuteThe “Sakani” program revealed that the number of residential units under construction in Riyadh City projects is approximately 23,000, while the average number of reservations reached more than 611,000 of the total units available for online booking via the Sakani app and website, as of the third quarter of 2020, through simple, accessible, and fast procedures, as part of the program’s ongoing efforts to serve all families … Read more

“National Housing launches the second phase of the Nargis View project”

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Mersiya View - North Riyadh - Residential Projects

Reading time: < 1 MinuteResidential Projects – The National Housing Company has begun preparations for the launch of the second phase of the “Al-Narges View” project in the Al-Jawan suburb north of Riyadh. This is one of the projects currently under construction that the company is implementing in cooperation with the private sector, providing 728 residential units—including villas, townhouses, and duplexes—in a variety of sizes and designs to meet all the needs of Saudi families. The project is located on an area exceeding … Read more

Industry reports predict an improvement in the job market outlook for the second half of 2020

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real estate

Reading time: < 1 MinuteReal Estate – A report on developments in the Saudi labor market, issued by Jadwa Investment,  that the reopening of the economy and the continued lifting of restrictions related to the COVID-19 pandemic will improve employment prospects in the local market in the second half of 2020. The report predicted a gradual improvement in the unemployment rate among Saudis in the second half of the year, as it is expected … Read more

The Ministry of Housing’s initiatives and transparency have helped build a bond of trust between the ministry and the public

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Statement by the Minister of Housing - Housing Projects

Reading time: 3 MinutesFigures and Projects Have Brought Joy to Families – Housing Projects – The Ministry of Housing has taken significant steps toward building a foundation of trust between itself and citizens on the one hand, and the media on the other, as the figures and facts presented by Minister of Housing Majid Al-Hogail during his meeting with newspaper editors-in-chief and TV channel directors revealed numerous achievements and remarkable progress in stability and happiness … Read more

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