Month: July 2021

“Sakani” to Hand Over Units to Saudi Families in June as Part of the “Al-Ahsa Housing” Project”

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Residential real estate

Reading time: < 1 MinuteThe “Sakani” program handed over a number of ready-to-move-in residential villas as part of the “Al-Ahsa Housing” project last June 2021, as part of ongoing efforts to provide diverse housing options and financing solutions to meet the housing needs of Saudi families. The handover procedures took place after the beneficiaries completed the reservation process and signed the final contracts.The program explained in a press release today that the Al-Ahsa Housing Project … Read more

“Justice”: 200,000 documentation procedures carried out in 6 months

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Justice - Execution Courts - Commercial Agency

Reading time: < 1 MinuteLast June, the Notary Service of the Ministry of Justice processed more than 22,000 notarial transactions, bringing the total number of such transactions since the beginning of this year to more than 200,000.The services ranged from the notarization and revocation of powers of attorney, deeds of conveyance, and real estate mortgages, to financial disclosures, corrections to real estate deeds, and the notarization of corporate contracts. The Ministry stated that the Notary Public Service … Read more

Applications for building permits begin for second phase in southern AlUla

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Reading time: < 1 MinuteThe Royal Commission for AlUla has begun accepting applications for building permits for the second phase of the sustainable urban development plan in the southern part of the province, as part of the Commission’s efforts to develop AlUla and enhance the quality of life for its residents.This step is a continuation of the Royal Commission for AlUla’s commitment to developing and enhancing the urban environment through a system of programs and initiatives, with the goal of prioritizing human development over physical development as a core approach … Read more

“Real Estate Fund: International praise for the housing sector and the real estate finance market confirms the success and efficiency of the performance of Vision 2030 programs

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Real Estate Brokerage Compliance

Reading time: 2 MinutesMansour bin Madi, CEO of the Real Estate Development Fund, affirmed that international recognition of the housing sector and the mortgage market underscores the success and effectiveness of the Kingdom’s Vision 2030 programs, noting that the integrated approach to providing financing and housing solutions between the “Real Estate Fund” and ”Sakani,” in partnership with the housing system, financing institutions, and real estate development companies, has contributed to raising the percentage of citizens who own their own homes from … Read more

General Authority for Competition (GAC) publishes guidelines for examining mergers and acquisitions

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Reading time: < 1 MinuteThe General Authority for Competition today published the Guidelines for the Review of Mergers and Acquisitions, which contains a series of clarifications intended to help provide an understanding of the criteria for reporting economic concentrations, enhance transparency, and enable businesses and individuals to follow best practices in understanding and applying the competition law issued by Royal Decree and its implementing regulations issued by a decision of the General Authority for Competition’s Board of Directors. It clarified … Read more

“Civil Aviation”: 295 Total Passenger Complaints Against Airlines in June

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Reading time: 2 MinutesThe General Authority of Civil Aviation (GACA) today released a ranking index of air transport service providers and airports based on the number of complaints filed by passengers with the Authority during June 2021.The Authority revealed that the total number of complaints filed by passengers against airlines during the month of June was 295, and the index showed that Saudi Arabian Airlines had the fewest complaints … Read more

Kareem's directive to stabilize the domestic price ceiling for gasoline effective July 10

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Reading time: < 1 MinuteThe Executive Committee for the Governance of Energy and Water Price Adjustments announced the issuance of a royal directive setting the following gasoline prices for June 2021: gasoline (91 octane / 2.18 riyals), and gasoline (95 octane / 2.33 riyals) as the domestic price ceiling for gasoline effective July 10, 2021. The royal directive stipulates that the state will cover any amount exceeding the June prices when … Read more

Minister of Housing: The Sultan of Oman’s visit will help increase the exchange of best practices in the housing, real estate development, and urban planning sectors

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Sultanate of Oman

Reading time: < 1 MinuteHis Excellency Majid bin Abdullah Al-Hogail, Minister of Municipal, Rural Affairs, and Housing, affirmed that the visit of His Majesty Sultan Haitham bin Tariq, Sultan of Oman, and his accompanying delegation to the Kingdom reflects the strength and durability of relations between the two countries, as well as the commitment to strengthening avenues for mutual cooperation in various fields. Minister Al-Hogail highlighted the depth of the close fraternal ties between the two countries and their brotherly peoples, and the … Read more

Agreement Between “Wafi” and ”Tadawul” to Grant Direct Trading Privileges to Listed Real Estate Companies

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Reading time: < 1 MinuteThe Off-Plan Sales and Leasing Committee “Wafi” announced that it has signed an agreement with the Saudi Tadawul Group “Tadawul” to grant real estate companies listed on the Saudi Stock Exchange the privilege of direct exemption from Wafi’s Certified Real Estate Developer Qualification Program.The agreement was signed on behalf of “Wafi” by the committee’s chairman, Engineer Abdulaziz Mohammed Al-Muhaimeed, and on behalf of the Saudi “Tadawul” Group by the group’s CEO, Mohammed Suleiman Al-Rumaih. He explained … Read more

The Billionaires' Race to Space... Will It Make Space Tourism Accessible to Everyone?

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Reading time: < 1 MinuteThe rivalry between Bezos and Elon Musk, founder of SpaceX and Tesla, the spotlight, but the race between Bezos, who owns Blue Origin, and Branson, who owns Virgin Galactic, to make space tourism a reality could soon make space a destination for ordinary citizens. After decades of making a name for himself as a reckless billionaire through a series of boat and hot-air balloon trips, he is preparing … Read more

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