Month: January 2021

The Ministry of Justice Officially Launches the New Notarization System

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Minister of Justice Engineering Offices - Commercial Courts - Emptying - Real Estate - Notarization

Reading time: < 1 MinuteToday, Thursday, January 14, the Ministry of Justice officially begins implementing the new notarial system, which was approved by the Council of Ministers. The system comprises 57 articles across five chapters that regulate notarial work in the Kingdom, ensuring accuracy, improving efficiency, and enhancing the quality of outputs. Minister of Justice Dr. Walid bin Mohammed Al-Samaani explained that the system will enhance real estate security and improve the efficiency of judicial notarization and the reliability of … Read more

The Line The icon of smart cities. The purest model of environmental protection and preservation of the planet

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The Line City

Reading time: 2 MinutesThe «The Line» project, launched by His Royal Highness Crown Prince Mohammed bin Salman, Chairman of the Board of Directors of NEOM, may God protect him, is one of the most prominent modern projects to be located within NEOM, featuring the characteristics of global smart cities to remain an icon of the purest model for environmental protection and the preservation of the planet, and the most nature-preserving city in the world, both on land and water. … Read more

Kafala program pumps SAR 7 billion into businesses' arteries

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Funding guarantee

Reading time: 2 MinutesFinance – The importance of the «Kafalah Program» has become increasingly evident in light of the Kingdom’s growing local economy, given that entrepreneurship, startups, and small and medium-sized enterprises (SMEs) represent a vital pillar that is difficult to overlook; Analysts and experts expect their contribution to GDP to rise to 35.1% according to the National Transformation Program 2020 and Saudi Vision 2030. In contrast, we find that globally, these enterprises… Read more

Amlak publishes a new package of banking and finance news

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Banks and Finance -6

Reading time: 3 Minutes«SAMA Begins Issuing Licenses for Micro-Consumer Finance Activities: Banking and Finance – The Saudi Arabian Monetary Authority (SAMA) announced the start of issuing licenses for micro-consumer finance activities, following the announcement of the issuance of the first license to a company to engage in this activity in the Kingdom. The bank said in a statement that the first license was granted to Tamam Finance Company to engage in micro-consumer finance as a joint-stock company … Read more

Abdullah Al-Ateeq writes about the real estate broker and his qualification (1-2)

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Articles - Antique Real Estate Offices - Real Estate - Hotels

Reading time: < 1 MinuteReal Estate – A real estate agent serves as the link between the seller and the buyer. This agent must work professionally, both in negotiating between the parties and in understanding the real estate market, especially given the diversity and complexity of real estate transactions. The agent must be familiar with applicable real estate regulations to ensure the sale is conducted properly and securely… Read more

«Itqan» Launches the “Safwa Makkah” Project for Direct Sale in the Holy City

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Atqan Real Estate Company - Al-Safwa Development

Reading time: < 1 MinuteReal Estate – Itqan Real Estate is preparing to launch the «Safwa Makkah» development for direct sale. Located in the heart of the Holy City, specifically in the King Fahd District on the Fourth Ring Road, covering an area of approximately 872,452 square meters. It is considered one of the real estate projects with a prime location and abundant diverse investment opportunities, as it is situated within the boundaries of the Haram. For his part, the Chairman of the Board … Read more

Broad Powers for the Real Estate Investment Fund... and Utilization of Assets and Properties

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Mortgage Financing - The Fund

Reading time: < 1 MinuteNew Regulations for Direct Mortgage Lending to Beneficiaries Riyadh—Mohammed Al-Amin Jamous The Real Estate Development Fund has made significant strides in keeping pace with the transformations in the Kingdom’s real estate sector, following the Shura Council’s approval last October of the Fund’s regulations—by a decision of its Board of Directors—to provide real estate loans directly to beneficiaries, and to establish the necessary regulations and controls for this purpose. To ensure the sustainability of the Fund’s investment system, the law grants it a number of … Read more

Abdulaziz Al-Issa writes: The magic of incentivizing white land development

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Abdulaziz Al-Issa - Third Amlak Centennial - Lifting the land moratorium - Saudi Media - Vision 2030

Reading time: 2 MinutesThe new year 2021 has begun to take shape in the real estate sector by establishing limits and frameworks for the implementation of regulations designed to improve the market’s image. The real estate sector is expected to reap the benefits of these coordinated efforts within state institutions, God willing, as the reform system nears the final stages of development (the white land system being a prime example). In continuation of the implementation of these regulations, the Ministry announced … Read more

“Taqeem Launches Joint Professional Forum for Real Estate Investment Funds

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Real estate investment

Reading time: < 1 MinuteThe Saudi Authority for Accredited Valuers announced the launch of the joint professional forum ”Valuation of Real Estate Investment Trust (REIT) Assets,” in collaboration with the Capital Market Authority, which will be held virtually at 1:00 p.m. on Sunday, January 10. In collaboration with the Capital Market Authority. The forum will address several topics, including the legal requirements for real estate valuation reports, updated regulatory controls … Read more

AlUla Declaration emphasizes the importance of working as an economic and political community

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AlUla Gulf Summit

Reading time: 3 MinutesWith the aim of successfully achieving security, peace, stability, and prosperity in the region, and with a deep sense of understanding, the leaders of the Gulf Cooperation Council (GCC) concluded their 41st session, the «Sultan Qaboos and Sheikh Sabah Summit,» held in Al-Ula yesterday (Tuesday), and affirmed the strengthening of bonds of friendship and brotherhood among the peoples of the region. The Al-Ula Declaration called for the establishment and activation of the «Gulf Center for Disease Prevention and Control»… Read more

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