Month: August 2021

Under the slogan “She is our home”... “Entertainment” launches the identity of the 91st National Day

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Reading time: < 1 MinuteTurki bin Abdulmohsen Al Sheikh, Chairman of the Board of Directors of the General Entertainment Authority, launched the Kingdom’s 91st National Day campaign under the slogan “It Is Our Home,” as part of the General Entertainment Authority’s role in unifying National Day celebrations across all government and private entities inside and outside Saudi Arabia to achieve integration and consistency in all uses of the identity. The National Day identity was inspired by the culture of humanization … Read more

“Competition Authority” penalizes 4 establishments that agreed to raise and stabilize the prices of ready-mix concrete

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Reading time: 2 MinutesThe General Authority for Competition announced that the Committee for Adjudicating Violations of the Competition Law has issued a decision to penalize four companies operating in the concrete sector for agreeing to raise and fix the prices of ready-mix concrete. In a statement issued today, the Authority said that, based on its mandate and jurisdiction to enforce competition law—and as an extension of its role in protecting and promoting fair competition and combating monopolistic practices—and in accordance with the principle of transparency … Read more

To expedite the resolution of cases Cabinet approves amending the mechanism of the Real Estate Contributions Committee

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Reading time: < 1 MinuteApproval has been granted by the highest authorities to make amendments to the operating procedures of the Real Estate Contributions Committee, with a view to expediting the resolution of these cases. The amendments stipulate that the committee shall take all legal and regulatory measures, including those that contribute to safeguarding shareholders’ rights and restoring them in the most appropriate manner, whether by selling the shares directly at their current value or through a public auction, … Read more

for up to 20 years. Allowing sports clubs to invest in their own land

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Reading time: < 1 MinuteThe Ministry of Sports has authorized clubs to invest in the land allocated to them and the facilities located on it for a period ranging from five to 20 years, depending on the nature of the project, to increase their financial revenues, provided they comply with the provisions of the regulations governing the investment of allocated land, which the Ministry established to regulate the investment process and to serve as a means of supporting the clubs in achieving their goals.The Ministry of Sports has stipulated that these investments must not adversely affect the clubs’ facilities, in addition to … Read more

“Council of Ministers: Take measures to protect valley streams and reefs, prevent ownership and construction, and remove encroachments

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Reading time: < 1 MinuteAt its weekly meeting, the Council of Ministers directed the Ministry of the Interior, the Ministry of Justice, the Ministry of Municipal, Rural Affairs, and Housing, and the Ministry of Environment, Water, and Agriculture to take measures to protect wadi channels and reefs, prevent land claims and construction within them, and to remove encroachments on these watercourses and their tributaries. It also approved the formation of the “Central Committee for the Training and Scholarship Programs for Civil Service Employees” to provide training and scholarships for civil service employees. The Minister explained … Read more

Real Estate Fund: 520 thousand Saudi families have benefited from the subsidized mortgage program

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Reading time: 2 MinutesThe Real Estate Development Fund announced that more than 520,000 families have benefited from the subsidized mortgage program from June 2017 through the end of the first half of this year, including 103,000 families who took advantage of the financing and housing options for “subsidized loan” this year, from January through the end of June 2021. Mansour bin …, CEO of the Real Estate Development Fund, explained… Read more

Inquire about the prices of services of engineering companies and offices. A new service of ”Engineers Authority”

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Corps of Engineers - Model Contracts

Reading time: < 1 MinuteThe Saudi Council of Engineers announced the addition of a new service to its list of registered engineering firms and offices, which allows users to inquire about the prices of various engineering services across different regions of the Kingdom. The Authority’s Secretary-General, Engineer Abdulnasser Al-Abdullatif, explained that the new service includes inquiries about the prices of engineering services, adding that the service for inquiring about the services of engineering firms and offices enables … Read more

“Sakani” issues 524.4 thousand certificates of tolerance for real estate transaction tax for the first home

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Reading time: 2 MinutesThe “Sakani” program released its August report, which included its key achievements through July 2021, as well as a set of data and statistics on construction updates for the projects, beneficiary households, and the number of real estate title deeds issued.The report highlighted that 12,640 families benefited from the program in July, including 9,926 families who moved into their homes, as part of the program’s ongoing efforts to enable Saudi families to own their first home, in line with the housing program’s objectives … Read more

False indicators of land prices in Riyadh are spreading on social media (photo)

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Ministry of Justice - Foreclosure

Reading time: < 1 MinuteA number of experts and stakeholders in the real estate sector have denied the accuracy of the widely circulated real estate index for land prices in one of Riyadh’s neighborhoods, emphasizing that these are inaccurate figures that do not align with the Ministry of Justice’s indices. They consider the prices listed in the circulating table to be exaggerated and not reflective of reality. Those wishing to view real estate prices and transaction details can visit the Ministry of Justice’s website, which provides all transactions that … Read more

“Residential” signs 3 agreements during the second quarter forum 2021. And honors success partners from the private sector

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Residential program

Reading time: 2 MinutesThe Housing Program Forum for the second quarter of 2021, held yesterday in Riyadh, witnessed the signing of three agreements, aimed at providing a range of housing options and appropriate financing solutions to help Saudi families purchase their first home, in line with the objectives of the Housing Program—one of the programs under the Kingdom’s Vision 2030—to increase the homeownership rate among Saudi families to 70% by 2030—. The program also honored a number … Read more

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