Month: August 2021

“Council of Ministers”: Approval of the “Judicial Costs” and “Execution before the Grievances Court” laws”

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Reading time: 4 MinutesThe Council of Ministers, chaired by the Custodian of the Two Holy Mosques King Salman, approved the Judicial Costs System and the Execution System before the Board of Grievances. At the beginning of the session, the Custodian of the Two Holy Mosques briefed the Cabinet on the content of the meetings and talks that took place between the Kingdom of Saudi Arabia and a number of brotherly and friendly countries during the past days, aimed at consolidating areas of bilateral and multilateral cooperation in a way that contributes to further ... Read more

Establishing 5 new parks south of Riyadh with an area of more than 51 thousand square meters

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Reading time: < 1 MinuteThe Riyadh Municipality announced its expansion plan to establish 5 municipal parks and squares in the southern neighborhoods of Riyadh with a total area of 51,775 square meters, in line with the ambitious targets for the capital in light of the Kingdom's Vision 2030. It indicated that it is currently working on implementing the Badr neighborhood park with an area of 1,750 square meters, and aims over the next few years to establish 4 other parks, namely ... Read more

Financial market: Monitoring a group on a communication program that discloses insider information of listed companies

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Reading time: 3 MinutesThe Capital Market Authority (CMA) announced that it has monitored through follow-up procedures the existence of a group on a social media program with more than (250) members through which internal information of companies listed on the Saudi Stock Exchange is disclosed before it is announced by those companies on the website of the Saudi Tadawul Group, including internal information ... Read more

Tatweer Buildings offers 354 Education-owned lands for investment and leasing”

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Reading time: < 1 MinuteTatweer Buildings Company (TBC), a wholly owned subsidiary of the Public Investment Fund, the implementing arm of the Ministry of Education, has offered 345 lands owned by the ministry for investment and leasing to private investors. The company launched several investment programs according to the type of assets and worked to develop them in line with the wishes of investors, including leasing non-operational educational buildings to the private sector to reopen them as private schools.This comes in ... Read more

“Ejar: Registration of more than 3 million real estate units until August 2021

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Rent

Reading time: 2 MinutesThe “Ejar” program recorded an increase in the number of real estate units registered in the electronic network for rental services, to exceed 3 million units, ranging from residential and commercial, from the beginning of the program until August 2021, and the number of real estate brokers registered in the program reached more than 20 thousand brokers. “Ejar” explained that the network is evolving by accommodating multiple types of ... Read more

“Enforcement holds 8 auctions showcasing 20 real estate and investment opportunities with an area of one million square meters

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Reading time: 1 MinuteThe Enforcement Center has announced the holding of 8 public auctions in various regions of the Kingdom, starting from Wednesday, September 01, 2021 AD until Tuesday, September 7, 2021 AD, showcasing 20 real estate and investment opportunities with areas exceeding one million square meters.The public auctions held under the supervision of the Center begin with the “Al-Bakiriya Auction”, which showcases two investment opportunities represented in residential and commercial lands with a total ... Read more

“Justice” expands electronic real estate clearance and adds 7 new banks (Infographic)

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Reading time: < 1 MinuteThe Ministry of Justice announced today (Monday) the expansion of the electronic real estate emptying service by making the service available through 7 additional banks. The list included the following banks: Al-Balad, Riyadh, Saudi British Bank, Al-Jazira, Saudi Investment Bank, Arab National Bank, and Saudi Fransi Bank, in addition to Alinmaa, Al Rajhi, and the National Bank of Saudi Arabia, in cooperation with the Central Bank of Saudi Arabia. The expansion of the service aims to serve a segment of ... Read more

This region accounts for 66% of Endowment Authority opportunities in 2021

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Reading time: 2 MinutesThe number of real estate investment opportunities offered by the General Authority for Saudi Endowments has reached about 30 investment opportunities in a number of regions since the beginning of 2021, in the form of long, medium and short-term investments. The Makkah region accounted for about 66.7%, with 20 investment opportunities, followed by Medina with five investment opportunities, then the Riyadh region with three opportunities, and two investment opportunities ... Read more

With a growth of 20 % ... “87.7” billion riyals worth of residential real estate financing in 7 months

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Real estate fund-min

Reading time: < 1 MinuteThe monthly bulletin issued by the Saudi Central Bank (SAMA) revealed the growth of new residential mortgage contracts for individuals during 2021, recording 171,757 contracts worth 87.7 billion riyals, while new residential mortgage contracts for individuals during July amounted to 18,703 contracts worth 8.6 billion riyals. New residential real estate finance contracts from January to July 2021 recorded an annual growth ... Read more

Limitless plans to sell Al Wasl project north of Riyadh as part of debt restructuring plan

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Reading time: < 1 MinuteLimitless, the development arm of Dubai World, plans to sell the 14.1 million square meter Al Wasl project north of Riyadh, which was announced in 2007 at a cost of SAR 45 billion, as part of a debt restructuring plan, Reuters reported. Limitless is seeking to restructure $760 million in debt and is offering banks a discount of 50% or ... Read more

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