Month: September 2021

“The Real Estate Fund Deposits More Than 761 Million Riyals into the Accounts of ”Sakani“ Beneficiaries for September

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Reading time: < 1 MinuteThe Real Estate Development Fund announced today that it has deposited more than 761 million riyals into the accounts of “Sakani” beneficiaries from the Ministry of Municipal, Rural Affairs, and Housing and the ”Real Estate Fund” for the month of September 2021.Mansour bin Madi, CEO of the Real Estate Development Fund, explained that the total subsidy for this month was allocated to profits from subsidized mortgage contracts, noting that the total amount deposited into the accounts of “Sakani” beneficiaries … Read more

“Jadwa Investment” Announces the Launch of the Additional Offering for the Jadwa Saudi REIT Fund

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Reading time: 2 Minutes“Jadwa Investment,” a company specializing in investment management and investment advisory services and one of the largest real estate investment trust (REIT) managers in the Kingdom of Saudi Arabia, announced today the launch of a secondary offering for the Jadwa Saudi REIT. The proceeds from the secondary offering will be used to complete the acquisition of Riyadh Boulevard, one of the most prominent commercial properties in northern Riyadh. Jadwa REIT Saudi Arabia is a fund … Read more

“SPA launches a news ticker for Saudi stocks, currencies, metals, oil and gas prices on its official website

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Reading time: < 1 MinuteThe Saudi Press Agency (SPA) launched today an interactive news ticker to display Saudi stock prices, currency rates, metals, oil and gas prices, and the most important news and data on a daily basis on its official website (https://www.spa.gov.sa/ ) as the first phase of a project to establish the SPA Financial Markets Portal, coinciding with the celebration of the Kingdom’s 91st National Day under the slogan ”It Is Our Home.“ The project aims to highlight what … Read more

“Reit Participation Fund” Acquires the Giardino Hotel for 85.5 million riyals

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Reading time: < 1 MinuteMusharaka Financial Company announced the completion of all regulatory procedures related to the acquisition of the Giardino Hotel, located in Riyadh, The transfer of ownership of the property to the Musharaka REIT has been finalized. The acquisition was valued at 85.5 million riyals and was fully financed through banking facilities available to the fund that comply with Sharia law. An addendum to the lease agreement was also signed … Read more

%60 من قضايا المنازعات التجارية ضد “المنشآت الصغيرة” .. و”الرياض” تتصدر

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Reading time: < 1 MinuteSince the beginning of the current Hijri year, the number of commercial cases filed in Saudi courts against companies and institutions has reached approximately 480, involving financial disputes and disagreements.Commercial cases and disputes against small businesses accounted for about 60 percent of these cases. The Commercial Court in Riyadh handled about 58 percent of these cases, with 277 cases. It received … Read more

Spanning 5.4 million square meters, “Riyadh Season” is one of the world’s largest entertainment festivals, featuring 148 Saudi construction companies

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Reading time: < 1 MinuteResidents of Riyadh and the Kingdom as a whole are eagerly awaiting the launch of the second edition of “Riyadh Season 2” for 2021, featuring a packed program of 7,500 events. The events of “Riyadh Season 2,” scheduled to begin this coming October and organized by the Saudi General Entertainment Authority, will be spread across 14 areas covering a total area of 5.4 million square meters. The season includes 70 Arab music concerts and six international music concerts… Read more

5 Obligations That Real Estate Brokers Must Follow, Including: 5 % Maximum Deposit for Property Reservation

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Reading time: 2 MinutesThe regulations governing real estate broker licenses specify that 5 % of the property’s value is the maximum amount a real estate broker may request as a deposit to reserve the property, In addition, a real estate broker is not entitled to a commission if he or she is a second party to the sales contract, and violators are penalized by having their real estate brokerage license revoked and being barred from registration for up to 5 years. «Yesterday,» the program announced the sale or … Read more

By a decision of the Minister of Municipal and Rural Affairs and Housing... Establishing a three-member committee to consider objections to penalties related to real estate offices

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Reading time: 2 MinutesThe Minister of Municipal, Rural, and Housing Affairs, acting within the authority vested in him, has issued a regulation. Having reviewed Royal Decree No. (7262) dated 8/2/1437 AH, which approves the vision and guidelines of the Ministry of Housing (formerly), and having reviewed the Regulations Governing Real Estate Offices issued by Cabinet Decision No. (334) dated 7/3/1389 AH, and having reviewed Cabinet Decision No. (405) dated … Read more

Get to know them, “12” An article specifying the rules governing the organization of franchise brokerage activities

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Reading time: 4 MinutesThe Umm al-Qura newspaper (the Official Gazette) announced the issuance of regulations governing the practice of commercial franchise brokerage activities, consisting of 12 articles, as follows:Article 1: Definitions—Subject to the provisions of Article 1 of the Commercial Franchise Law issued by Royal Decree No. (M/22) dated 9/2/1441 AH, and its implementing regulations issued by Decision of the Minister of Commerce No. (00591) dated 18/9/1441 AH, the following terms shall mean … Read more

Federation of Chambers of Commerce: The Kingdom is leading the world toward economic recovery from the fallout of the COVID-19 pandemic

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Reading time: 3 MinutesIn an economic report prepared by the Federation’s Center for Economic Studies, the Council of Saudi Chambers affirmed that the resilience of the Saudi economy, along with its capabilities, potential, and massive investment programs, have made it one of the most attractive and stable economies and qualified the Kingdom to join the G20, which comprises the 20 strongest economies in the world, thanks to the support and guidance of the wise leadership—may God support them. … Read more

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