Month: July 2021

“Investment” asks for feedback on the draft real estate ownership system in Saudi Arabia

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Reading time: < 1 MinuteThe Ministry of Investment has invited the public to share their views on the draft Real Estate Ownership Law via a survey platform, with the deadline set for August 10, 2021. The draft law aims to regulate and protect property ownership rights, rights of use, and conditions for disposal, in addition to establishing general principles for the protection and regulation of real estate assets in the Kingdom, and creating a framework that contributes to the comprehensive regulation of legislation in the real estate sector. Also … Read more

“Privatization” announces the sale of all shares of flour mills' assets to investors

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Reading time: 2 MinutesThe National Privatization Center and the General Grain Corporation announced today the sale of the Second Milling Company and the Fourth Milling Company—the final phase of the privatization of the flour milling sector— by offering all shares in the milling companies to qualified strategic investors from the private sector, in the presence of His Excellency the Minister of Environment, Water, and Agriculture, Chairman of the Board of Directors of the General Organization for Grains, and Chairman of the Specialized Committee for Privatization… Read more

Enforcement oversees the online land auction in Taiba, Madinah

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Reading time: < 1 MinuteThe Enforcement and Liquidation Center (”Enfaaz”) has announced the “Taiba Online Land Auction,” which will run from Tuesday, July 13, 2021, through Thursday, July 15,2021 via the electronic auction platform. The auction will feature two agricultural plots, residential land, several villas, residential and commercial buildings, and a fuel station, with a total area exceeding 172,000 square meters.The Center had previously … Read more

“Military Industries: Number of licensed companies rose 41% in the first half amounted to 99 local and international companies

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Reading time: < 1 MinuteThe General Authority for Military Industries revealed that the number of licensed companies in the Kingdom’s military industries sector had increased by an estimated 411% by the end of the first half of this year, with the total number of licensed companies reaching 99, including local, international, and joint-venture firms.This was stated in the report on indicators of the military industries sector in the Kingdom issued by the Authority today, highlighting the growth in the number of licensed companies, as … Read more

In collaboration with real estate developers... Launch of an initiative to implement utility connections in residential developments

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Reading time: < 1 MinuteThe National Water Company today launched an initiative to install household connections within planned developments, which will enable real estate developers to install partial connections to buildings in these developments before selling them to buyers.During the launch ceremony, which was sponsored by His Excellency the Minister of Environment, Water, and Agriculture, Engineer Abdulrahman Al-Fadli, and His Excellency the Minister of Municipal, Rural Affairs, and Housing, Mr. Majed Al-Hogail, the Chairman of the National Water Company, Engineer Mohammed Al-Mokli, said that … Read more

With an investment of 6 billion riyals. Saudi Arabia attracts 3 international parcel transportation companies

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Reading time: 2 MinutesThe Ministry of Communications and Information Technology announced that three major global companies are set to enter the postal and logistics sector, specifically the parcel delivery segment. Their entry is expected to inject more than 6 billion riyals into the Saudi market.According to the ministry, this achievement is the culmination of a package of policies and legislation recently issued that have helped make the market… Read more

“White Lands”: Development of 5 fee-subject plots in Dammam completed

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Reading time: 2 MinutesThe White Land Program announced the completion of the development of five plots of land subject to fees paid by their owners in Dammam, with a total developed area exceeding 114,000 square meters, This is part of the program’s goal to support supply and contribute to creating a balanced real estate market, with the current phase focusing on undeveloped plots of 10,000 square meters or more located within the announced scope … Read more

“Enforcement” Oversees Two Public Auctions of Camels and Horses

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Reading time: < 1 MinuteThe Enforcement and Liquidation Center “Enfaz” is overseeing two public auctions of movable property consisting of camels and horses: the “Elite Rarities Camel Auction,” featuring 46 camels for sale (in bulk) at a live auction in eastern Riyadh, and the ”Abu Obaid Horse Auction,” which features 7 show jumping horses at a live auction held in Riyadh. The center has previously supervised numerous auctions … Read more

“CITC clarifies the rights of postal service beneficiaries related to e-commerce

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Reading time: < 1 MinuteThe Communications and Information Technology Commission (CITC) has launched an awareness campaign in collaboration with the Ministry of Commerce to clarify the rights of e-commerce postal service users, with the aim of raising awareness of these rights and the roles of all stakeholders involved in regulating e-commerce operations in the Kingdom.The Authority defined the types of postal shipments, explaining the difference between parcels and postal items, which the Authority is responsible for regulating, and shipments resulting from … Read more

Riyadh Municipality adopts advertising plan for the capital with standards that take into account its urban identity

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Real Estate Contributions Law

Reading time: < 1 MinuteThe Riyadh Region Secretariat has approved the capital’s advertising plan, which was prepared in accordance with the strategy for developing outdoor advertising in Saudi cities issued by a decision of the Council of Ministers, which included a number of initiatives and measures aimed at developing the outdoor advertising sector in a manner consistent with each city’s identity and economy. His Highness Prince Faisal bin Abdulaziz bin Ayyaf, Secretary of the Riyadh Region, explained that … Read more

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