Month: May 2021

Real Estate Sorting Approves Procedures to Suspend and Revoke the Accreditation of Engineering Offices

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Individualized real estate unit

Reading time: 2 MinutesThe “Sorting Real Estate Units” program has defined a number of procedures and rules to suspend and cancel the accreditation of engineering offices specialized in sorting real estate units in the event of violations or violations, as part of the program's efforts to enhance the governance of the real estate sector, raise the efficiency of its performance, maintain its sustainability, raise the level of transparency of the sector, and preserve the rights of all related parties. The technical guide for suspension and revocation ... Read more

Development Housing Program signs agreements to provide 4000 housing units in Makkah

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Developmental Housing - 4000 housing units

Reading time: < 1 MinuteThe Development Housing Program intends to provide 4,000 housing units for the neediest families in the Makkah region, and for this purpose, the program signed a tripartite agreement with Nafaa Charity Association and the Community Development Housing Foundation “Sakan”, in the presence of the Minister of Municipal and Rural Affairs and Housing, Mr. Majid bin Abdullah Al-Haqeel. In a press release, the program explained that the agreement lasts for 5 ... Read more

Saudi Contractors Authority organizes a training course “Value Engineering for Projects” June 8, Al Maqeel

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Saudi Contractors Authority Course

Reading time: < 1 MinuteThe Saudi Contractors Authority is organizing a training course entitled “Value Engineering for Projects“ on June 8 and 9, and the Authority published on its official Twitter account the themes of the course, which are: - The importance of applying the value engineering methodology in projects. - Sustainability and value engineering methodology. - Analyzing project functions. - Criteria matrix and selection of appropriate alternatives. - Planning ... Read more

Shura Council discusses urban development and land issues with the Ministry of Municipal and Rural Affairs and Housing

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Shura discusses housing issues

Reading time: < 1 MinuteThe Hajj, Housing and Services Committee - one of the specialized committees - of the Shura Council held a meeting (via video link) chaired by Council member Dr. Ayman bin Saleh Fadel, Chairman of the Committee, with Minister of Municipal and Rural Affairs and Housing Majid Al-Hogail and a number of officials in the ministry, to discuss the highlights of the annual report of the Ministry of Municipal and Rural Affairs and Housing for the fiscal year 1441/1442. And in ... Read more

Khalid al-Falih: New Investment Ministry Organization Achieves Comprehensive Development in All Countries

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Ministry of Investment

Reading time: < 1 MinuteThe new organization, which replaces the previous organization of the General Authority for Investment (GAFI), is a development that provides the necessary frameworks to support cooperation and coordination between all governmental and non-governmental entities in the Kingdom, and will enhance the Ministry's capabilities and facilitate the achievement of its objectives, which are an essential part of the objectives of the “Kingdom 2030" vision, which focuses on upgrading investments, national ... Read more

The Real Estate Fund deposits more than 713 million riyals into citizens' accounts for the month of May

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Rising real estate prices

Reading time: < 1 MinuteReal Estate Finance - The Real Estate Development Fund deposited more than 713 million riyals in the accounts of citizens who are beneficiaries of the Residential Program and the Real Estate Development Fund for the month of May 2021. Emphasizing the continuity of depositing the monthly support to the beneficiaries on time every month. Mansour bin Madi, CEO of the Fund, confirmed that the total support for May amounted to 713 million riyals and was fully allocated to support the profits of ... Read more

Ministry of Justice cancels the spatial jurisdiction of real estate deeds issued from Makkah and Medina

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Makkah Real Estate - Property Ownership

Reading time: < 1 MinuteThe Ministry of Justice canceled the spatial jurisdiction of real estate deeds issued from Makkah and Madinah, in order to facilitate the beneficiaries, as the directive issued by Dr. Walid Al-Samaani, Minister of Justice, allows them to carry out real estate documentation operations in any city at the notaries or certified notaries without being linked to the location of the property, in addition to the possibility of implementing them through the “electronic real estate emptying” service ... Read more

“State Real Estate” saves SAR 315 million from rationalizing the government system's rental of buildings

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Rental Properties - Real Estate - Real Estate - Real Estate Funds - Rental - Licensing -... Real Estate Deals - Real Estate Exchange

Reading time: < 1 MinuteThe General Authority for State Real Estate revealed that during 2020, it saved more than (315 million riyals), of which (109 million riyals) through the provision of alternative government headquarters for tenants and through the use and employment of unused government buildings. Ihsan Bafaqeeh, Governor of the Authority, explained during his meeting at the Ministry of Finance's Communication and Knowledge Center and via “Pod ... Read more

“Enhancing the Nonprofit Sector's Contribution to the National Transformation Program” Forum kicks off next Sunday

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National Transformation Program

Reading time: < 1 MinuteThe National Transformation Program (NTP) is organizing a forum on ”Enhancing the contribution of the non-profit sector to the National Transformation Program“ under the patronage of Engineer Ahmed Al Rajhi, Minister of Human Resources and Social Development. The forum will introduce the National Transformation Program and its objectives, review the opportunities for partnership between the program and the non-profit sector, and align the programs and projects of the National Transformation Program with the programs and projects of non-profit sector organizations. A number of ... Read more

“State Real Estate” announces the allocation of 500 million square meters for housing projects

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

Reading time: < 1 MinuteEhsan Bafqeeh, Governor of the General Authority for State Real Estate, revealed the allocation of 500 million square meters to the Ministry of Municipal and Rural Affairs and Housing to enable the ministry to implement its housing projects. Bafqeeh confirmed during his meeting at the Ministry of Finance's Communication and Knowledge Center via “PodCast” that the Authority intends to launch a real estate investment fund “REIT” soon, in order to maximize the returns of the assets of ... Read more

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