Month: July 2021

“Competition Authority approves 27 acquisition applications during Q2 2021

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Reading time: < 1 MinuteThe General Authority for Competition announced the figures for the second quarter of this year regarding economic concentration applications, noting that it received 85 applications, of which 35 resulted in decisions by the Authority granting no objection, representing a 35% increase over the previous quarter of this year.The Authority receives notifications of economic concentration (mergers, acquisitions, and joint ventures), reviews them, and issues the necessary decisions. It is also responsible for … Read more

Wednesday. “Itqan Real Estate offers distinctive properties in Makkah, Jeddah and Taif through the third video auction

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Reading time: < 1 MinuteItqan Real Estate has launched a marketing campaign for its third virtual auction, scheduled for 27/11/1442 AH, corresponding to July 7, 2021, to sell a portfolio of properties offering attractive investment returns and prime locations in the Makkah region, via live streaming on the company’s YouTube and Twitter channels and a number of satellite channels, in accordance with social distancing guidelines.The Chairman of the Board of Directors of Itqan Real Estate, Mr. Abdulaziz bin …, explained Read more

“Residential” signs an agreement to provide its services to Ma'aden employees“

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Reading time: 2 MinutesThe “Sakani” program announced that it has signed a joint cooperation agreement with the Saudi Arabian Mining Company (Ma’aden), with the aim of providing a number of housing services to the company’s employees who are eligible for housing support, as part of the program’s efforts to facilitate Saudi families“ acquisition of their first home and increase the homeownership rate among Saudi families to 70% by 2030, in line with the targets of the Housing Program—one of the programs under the Kingdom’s Vision 2030. The event saw … Read more

Abdulaziz Al-Issa writes: Mandatory Insurance Survival of the fittest

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

Reading time: < 1 MinuteThe implementation of the mandate requiring insurance for residential buildings with three stories or fewer boosts confidence and accelerates governance and regulation in the sector. We are optimistic following the decision’s entry into effect at the beginning of this month, and we anticipate a positive impact on the real estate market in general, and on the sustainability of residential buildings in particular. Among the most notable benefits for beneficiaries are those for insurance companies, which will no longer accept … Read more

Sons in South Korea to inherit $62.8 billion in 2020

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South Korea

Reading time: < 1 MinuteA report by the South Korean Tax Service revealed that the value of assets inherited or transferred to children by their parents exceeded 71 trillion won “62.8 billion U.S. dollars” last year, an annual increase of 21 trillion won from the previous year. The South Korean news agency “Yonhap“ reported today, Saturday, that the agency clarified that the value of inherited assets amounted to 27.4 trillion … Read more

Wednesday... The Shura Council Discusses Amendments to Articles 2 and 15 of the Precious Metals and Gemstones Law

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Reading time: 3 MinutesNext week, the Shura Council will continue holding its regular sessions for the first year of the eighth legislative term (via video conference), during which the Council will review a number of issues referred to it by its General Assembly after its specialized committees have completed their review and submitted the necessary recommendations, in preparation for discussion before the Council so that it may make a decision on them.The Shura Council will begin its agenda next Monday… Read more

Tawakkalna launches updated health passport with new features

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Reading time: < 1 MinuteThe “Tawakkalna” app announced new updates to its health passport service, including a feature to view insurance policy details approved by the Saudi Central Bank and the Health Insurance Council that cover COVID-19 risks outside the Kingdom, to facilitate travel procedures.The feature appears within the beneficiary’s Health Passport information in the “Tawakkalna” app. Following the latest update, the Health Passport information includes: vaccination status and date, and the date … Read more

Yanbu Commercial Port receives first wheat shipment of 54,000 tons

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Reading time: < 1 MinuteToday, the Yanbu Commercial Port received the vessel “FREEDOM LINE,” carrying 54,000 metric tons of wheat, as part of an integrated system of maritime and operational services.This is the first shipment for the General Organization for Grains, and other shipments are expected to arrive at the port following the completion of the silo project, which was built with a capacity of 120,000 metric tons. This step aims to support plans for growth and increase … Read more

“Nafidh” Issues 800,000 Digital Certificates to 370,000 Beneficiaries, Including Businesses and Individuals

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Reading time: < 1 MinuteSince its launch about a year ago, the Ministry of Justice’s “Nafidh” platform has enabled hundreds of thousands of users—both individuals and companies—to create, file, and manage enforcement orders electronically.The platform ensures that enforcement orders meet all requirements, facilitates the swift and easy restoration of rights to their rightful owners, and safeguards the rights of all parties through its integration with enforcement courts, in addition to enhancing the reliability of enforcement orders, … Read more

The “Sakani” app recorded 464,000 visits in one month

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Reading time: 2 MinutesThe “Sakani” app for smart devices averaged about 16,000 visits per day during June 2021, and the “Sakani” digital platforms continue to provide e-services to Saudi families through the “Sakani” website and app as part of the program’s efforts to facilitate first-time homeownership through simple and accessible procedures, with the goal of reaching a homeownership rate of 70% by 2030, in line with the Housing Program’s objectives… Read more

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