Month: January 2021

Ministry of Housing Announces Suspension of Applications for Existing Financing Support

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Rising real estate prices

Reading time: < 1 MinuteThe Ministry of Housing announced that it would stop accepting applications for existing financing support effective January 1, and clarified that support would continue to be provided through subsidized loans for various housing solutions and products offered by the housing program. The Ministry clarified that the suspension of the “existing financing support” product applies to contracts signed with financing entities prior to … Read more

More than 400,000 citizens have benefited from the subsidized mortgage loan

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400 thousand beneficiaries - Minister of Housing

Reading time: < 1 MinuteMajid Al-Hogail, Minister of Housing, confirmed that over the past three years, more than 400,000 citizens have benefited from housing subsidies through subsidized mortgages provided in partnership with financial institutions, including more than 180,000 beneficiaries this year alone. He made these remarks during his visit today to Sheikh Abdulaziz Al Sheikh, the Kingdom’s Grand Mufti and Chairman of the Council of Senior … Read more

Public Benefit Expropriation Law cuts procedures to one year

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Future of Real Estate Conference

Reading time: 2 MinutesThe General Authority for State Real Estate announced that updates to the system for expropriation for public benefit included reducing the duration of expropriation procedures to one year, encompassing property dispute resolution, property appraisal, and the disbursement of compensation. Ihsan Bafqih, Governor of the General Authority for State Real Estate, confirmed on the sidelines of the “Prospects for the Future of the Real Estate Sector” conference that the “Ihkam” electronic platform project for the General Secretariat of the Committees Reviewing Ownership Applications … Read more

Minister of Housing: Studying the real estate sector enhances the quality and efficiency of products

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Minister of Housing at the Real Estate Conference

Reading time: 2 MinutesConference on the Future of the Real Estate Sector Discusses Challenges Facing the Market Housing Minister Majid Al-Hogail emphasized that examining the current state and future of the real estate sector, discussing its challenges, and developing mechanisms to overcome them, has a significant impact on the sector’s quality and efficiency and makes it more attractive, He noted that the comprehensive strategy for the real estate sector is aligned with the Kingdom’s Vision 2030 and the objectives of the current development phase to achieve a vibrant society … Read more

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