“Residential” app records 350K visits in July

Reading time: 2 MinutesThe “Sakani” digital platforms intensified their services to Saudi families during the month of July 2021, which coincided with the Eid Al-Adha holiday, to answer all their inquiries about the services and housing options provided by the program electronically through the “Sakani” website and application to facilitate the ownership of the first home for citizens according to easy and facilitated procedures to reach 70% ownership rate by 2030 within the targets of the housing program ... Read more

Chaired by His Excellency the Minister of Finance The Board of Directors of Taqeem approves the revocation of the membership of a number of members of the Authority

Reading time: < 1 MinuteHis Excellency the Minister of Finance and Chairman of the Board of Directors of the Saudi Commission for Accredited Valuers (Taqeem), Mr. Mohammed bin Abdullah Al-Jadaan, today chaired the 32nd meeting of the Commission. During its discussion of the topics on its agenda, the Board approved the removal of the membership of a number of members of the Authority based on the recommendation of the Committee to consider violations of the Certified Valuers System after they submitted false documents to the Authority, and these persons were referred to the competent authorities to complete what is required by law regarding them. The Council reviewed the most prominent developments in the topics it had previously directed, and took a number of decisions on them.

“Deutsche Real Estate raises bid for rival Deutsche Funen to $22.7 billion

Reading time: < 1 MinuteGerman real estate company Vonovia has increased the value of its offer to acquire rival Deutsche Funen to about 19.19 billion euros ($22.7 billion) to encourage more Deutsche Funen shareholders to accept the takeover offer, after the previous offer failed to obtain the majority acceptance required to complete the deal. The merger is expected to be completed by the end of August 2021, Vonovia had announced in ... Read more

Details ... “Al-Hogail” inaugurates the advertising scheme of the Eastern Province Municipality“

Reading time: < 1 MinuteThe Minister of Municipal and Rural Affairs and Housing, Majid bin Abdullah Al-Hogail, launched on Monday the advertising plan for the Eastern Province Municipality. According to a tweet by Al-Hogail, the launch of the advertising plan comes in line with the strategy to develop outdoor advertising, which aims to achieve the objectives of the municipal sector by raising the aesthetics of cities, improving the urban landscape, and enabling one of the components of smart cities, through quality partnerships with the private sector. Al-Haqeel continued: ”The launch of this project comes to meet one of the goals of Saudi Vision 2030 to make 3 Saudi cities among the top 100 cities in the world.” The highlights of the Eastern Province's master plan can be viewed at the following link: (click here). Last March, the Eastern Province Municipality, in cooperation with investors in the advertising sector, launched a campaign to develop advertising networks and means and apply the concept of smart cities by converting billboards into digital billboards, as part of the initiatives of the Ministry of Municipal and Rural Affairs and Housing in the programs to achieve the Kingdom's Vision 2030. His Excellency the Secretary of the Eastern Province, Eng. Fahad bin Mohammed Al-Jubeir, stated that the strategy for developing outdoor advertising within Saudi cities included raising the maximum duration of investment contracts for outdoor advertising from 5 years previously to 10 years based on the size of the project, and enabling multiple and diverse investment models for partnership with the private sector.

Bold investment in Saudi Arabia jumps 65% during the first half of 2021

Riyadh City - Investment - Tourism - Real Estate - Real Estate Offices - Real Estate Investment

Reading time: 2 MinutesThe Venture Investment Report in the Kingdom revealed that the first half of 2021 witnessed the implementation of investments with a record value of 630 million riyals in Saudi startups, achieving a growth of 65% compared to the first half of 2020.The report issued today by the MAGNiTT platform specialized in venture investment data in startups, and sponsored by the Saudi Venture Investment Company ... Read more

Consumer spending in Saudi Arabia rises to 526.5 billion riyals in 6 months

Reading time: 2 MinutesConsumer spending in Saudi Arabia increased during the first half of 2021 by 12.86% year-on-year, an increase of 59.99 billion riyals from the same period last year. According to data from the Saudi Central Bank (SAMA), total consumer spending in the Kingdom reached 526.56 billion riyals in the first half of this year, compared to spending of 466.56 billion riyals in ... Read more

August 9 The third edition of the Contractor Finance Forum kicks off

Real Estate Registration - Real Estate Transactions

Reading time: < 1 MinuteThe Saudi Contractors Authority, with the participation of the Saudi Central Bank “virtually”, will organize the Contractors Finance Forum in its third edition, during the period from August 9-10, 2021. The forum includes a number of discussion sessions and workshops presented by a number of government and semi-government agencies, financing institutions and the banking sector, which will address a number of topics of interest to the contracting sector in terms of ... Read more

“Residential” delivers a number of housing units in the “Najran Housing” project”

Reading time: < 1 MinuteThe “Sakani” program delivered a number of ready-made residential villas within the “Najran Housing” project, and the delivery procedures took place after the beneficiaries completed the reservation processes and signed the final contracts, as part of the continuous efforts to provide housing options and various financing solutions to meet the housing desires of Saudi families, in order to enable them to own the first home and increase the percentage of residential ownership to 70% by 2030 according to the targets of ... Read more

New housing finance exceeds 153 thousand contracts with 79 billion riyals during the first half of 2021

Reading time: < 1 MinuteThe monthly bulletin issued by the Saudi Central Bank “SAMA” revealed the growth of new residential mortgage contracts for individuals during the first half of this year 2021, recording 153,054 contracts with a value of more than 79 billion riyals, while new residential mortgage contracts for individuals during last June recorded 17,752 contracts, with a value of more than 7.7 billion riyals. Read more