Month: August 2021

ROSHN's first integrated neighborhood in Riyadh named Sidra Featuring more than 30,000 housing units

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Reading time: 2 MinutesRoshen—a national residential real estate developer and a wholly-owned subsidiary of the Public Investment Fund—announced the naming of “Sidra” for its first integrated neighborhood, a new residential community in Riyadh designed to provide an environment that enhances quality of life.The “Sidra” neighborhood comprises more than 30,000 homes, of which more than 4,500 units will be built during the first phase, … Read more

”Sakani” exhibition opens, offering housing services to employees of the Ministry of Finance

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Reading time: < 1 MinuteAbdulrahman bin Abdullah Al-Sukran, Assistant Minister of Finance for Strategy and Institutional Services, inaugurated the “Sakani” exhibition held at the Ministry’s headquarters in Riyadh. The exhibition is organized by the “Sakani” program in partnership with the Ministry of Finance to provide housing services to ministry employees. The event was attended by the Deputy Minister of Municipal, Rural Affairs, and Housing for Land and Surveying, Engineer Abdullah bin Saud Al-Hammad. The exhibition aims to present special offers and benefits … Read more

Financial market: Chairman and members of the board of directors of a company referred to prosecution

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Capital Market Authority Headquarters

Reading time: 2 MinutesThe Capital Market Authority Board has decided to refer the Chairman and members of the Board of Directors of the Saudi Paper Manufacturing Company, the Audit Committee, and the Chief Financial Officer for the Board’s term from April 3, 2012, to April 26, 2015, as well as the Chairman of the Board of Directors and the Chief Financial Officer for the term from April 27, 2015, to April 26, 2018, to the Public Prosecution; this is due to suspicion that they engaged in acts that created a false and misleading impression in … Read more

Riyadh ”Frenchman” defamed for covering up and enabling a “Lebanese” to engage in contracting activity

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Reading time: 2 MinutesThe Ministry of Commerce has publicly named two residents—one a French national and the other a Lebanese national—against whom a court ruling was issued convicting them of violating the Anti-Fronting Law, after it was proven that the first had enabled the second to work independently in contracting activities in the city of Riyadh. Details of the case: The case stems from suspicions of a violation by an entity licensed under a foreign investment license, as it was proven that the owner … Read more

“MODON: 36 industrial cities host more than 4,000 factories with investments of 370 billion riyals

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Mask factories

Reading time: 2 MinutesThe Saudi Authority for Industrial Cities and Technology Zones “MODON,” in increasing the number of industrial cities in the Kingdom to 36 by the end of 2020, comprising more than 4,000 factories—including those in operation, under construction, and in the process of being established—with total investments exceeding 370 billion riyals.Qusay Al-Abdulkarim, Director of Marketing and Corporate Communications and official spokesperson, explained that since its establishment in 2001, “MODON” has been working to … Read more

“Justice”: “Notary” service accomplishes 230 thousand real estate documentation operations since the beginning of 2021

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Ministry of Justice - Foreclosure

Reading time: < 1 MinuteSince the beginning of this year, notaries at the Ministry of Justice have completed more than 230,000 notarization transactions, most of which involved real estate transfers and the notarization of powers of attorney.The total number of notarization transactions during the month of July reached approximately 20,000, distributed among the notarization and termination of powers of attorney, real estate transfers, and mortgages, as well as financial disclosures, corrections to real estate deeds, and the notarization of corporate contracts. The service aims to… Read more

“White House lobbies to prevent millions of Americans from being kicked out of their homes for falling behind on rent

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Reading time: < 1 MinuteThe White House has been pressuring states and local communities to prevent the eviction of tenants facing financial difficulties, after a moratorium preventing the eviction of millions of Americans from their homes for failing to pay rent due to the health crisis expired on Sunday.This comes at a time when the Delta variant has led to a renewed surge in COVID-19 cases in the United States. A number of states in the country have already taken … Read more

“Zakat and Tax” records 543 thousand real estate transactions since October 2020

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real estate

Reading time: < 1 MinuteThe Zakat, Tax and Customs Authority has recorded more than 543,000 real estate transactions through its Real Estate Transactions Tax service across various regions, cities, and provinces of the Kingdom since the tax was implemented on October 4 of last year.The Riyadh region led the way with 125,110 registered real estate transactions, followed by the Jeddah province with 55,680 transactions, while the city of Buraidah recorded … Read more

Completion of 4 projects in the Eastern Province to provide 1,250 units for “Sakani” beneficiaries”

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Reading time: < 1 MinuteThe “Sakani” program announced that the completion rate for four residential projects currently under construction in the Eastern Province has reached 100%, while completion rates for three other projects have exceeded 90%, paving the way for their handover to beneficiary families, as part of the “Sakani” program’s commitment to enabling its beneficiaries to own their first home through its diverse solutions and options.The program clarified that the housing projects that have been completed … Read more

“The Central Bank announces the opening of applications for the 19th cohort of the Saudi Economists Program

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Saudi Central Bank - Digital Brokerage

Reading time: < 1 MinuteThe Saudi Central Bank has announced that applications are now open for the 19th cohort of the Saudi Economists Program, open to both men and women. a training program that offers opportunities for overseas study to earn master’s and doctoral degrees in economics from universities accredited by the Saudi Central Bank and recommended by the Ministry of Education.The bank stated that the registration period began on Sunday, August 1, … Read more

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