Month: September 2021

The Ministry of Justice releases a file containing the 91 most important judicial information of interest to beneficiaries

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Reading time: < 1 MinuteThe Ministry of Justice has released a dossier containing 91 pieces of legal information relevant to the public, as well as the most important updates across all of the Ministry’s sectors, in celebration of the 91st National Day.The dossier included an overview of the most significant legislation and decisions, as well as a range of services, including e-litigation and its associated procedures, and enforcement services. It also contains key information regarding the notary sector, such as the notary system … Read more

Kings and presidents congratulate the Saudi leadership on the 91st National Day

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Reading time: 2 MinutesThe Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud—may God protect him—received a congratulatory message from his brother, His Highness Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah, Emir of the State of Kuwait, on the occasion of the Kingdom’s 91st National Day. His Highness affirmed the strength and depth of the historic and close ties that bind the State of Kuwait and the Kingdom of Saudi Arabia and their noble peoples, praising the outstanding developmental achievements … Read more

“Evergrande Repays a Small Portion of Its Debt... Will This Help Reduce Market Volatility?

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Reading time: 2 MinutesEvergrande, the Chinese real estate giant currently in bankruptcy proceedings, announced today that it will pay interest on a small portion of its debt; however, this has failed to reassure financial markets, which are waiting to see whether Beijing will come to the rescue of this private conglomerate. There were fears that China could see a repeat of what happened with Lehman Brothers, whose bankruptcy triggered the financial crisis in … Read more

In celebration of the 91st National Day … The Ministry of Transport lights up the suspension bridge in Riyadh in green

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Reading time: < 1 MinuteThe Ministry of Transport and Logistics illuminated the suspension bridge in the capital, Riyadh, in the colors of the Kingdom’s flag to coincide with the celebrations of the 91st National Day. The suspension bridge is the longest of its kind in the Kingdom; construction was completed and the bridge was officially opened in 1420 AH – 2000 AD. The bridge is 763 meters long and consists of three lower piers, each 179 meters long… Read more

“Wafi announces rules governing real estate brokerage licenses for SMEs

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Wafi's new logo

Reading time: < 1 MinuteThe “Wafi” off-plan sales and leasing program has announced the regulations governing real estate broker licenses for off-plan sales and leasing projects for small and medium-sized developments, in an effort to enhance transparency and reliability in the real estate sector and off-plan sales and leasing activities, by establishing regulations and procedures that help stimulate competition among developers to increase supply. The chairman of the off-plan sales and leasing committee explained … Read more

“Cabinet approves rules governing privatization and the working mechanism and governance of trade agreements

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Reading time: < 1 MinuteDuring its meeting today, chaired by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, the Saudi Cabinet approved a number of decisions, most notably: – Approval of the rules governing privatization. – Approval of the mechanism and governance for concluding trade and trade-related agreements. – Approval of the final accounts of the General Organization for Social Security (formerly) for the previous fiscal year. – Authorization of the President … Read more

King Salman Park Foundation awards contracts worth 3.9 billion riyals to a group of national companies

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Reading time: 2 MinutesThe King Salman Park Foundation has awarded contracts worth 3.85 billion riyals to a group of national companies to carry out portions of the King Salman Park project. According to a tweet posted by the foundation on its Twitter account, these contracts include site preparation work, the construction of a number of tunnels and bridges on Abu Bakr Al-Siddiq Road and Al-Oruba Road, as well as infrastructure work and site preparation for the complex… Read more

Minister of Justice directs electronic real estate clearance through 17 local and foreign banks

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Minister of Justice Engineering Offices - Commercial Courts - Emptying - Real Estate - Notarization

Reading time: < 1 MinuteThe Minister of Justice, Dr. Walid bin Mohammed Al-Samaani, has directed that electronic mortgage discharge be made available through additional banks, bringing the total number of participating banks to 17 local and foreign banks licensed by the Saudi Central Bank. The Ministry of Justice clarified that, starting today, it has made the electronic real estate discharge service available through 10 local banks and 7 foreign banks, in cooperation with the Saudi Central Bank. The Ministry noted that … Read more

Sami Abdulaziz writes: The Apartment

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Sami Abdulaziz - Real Estate Articles

Reading time: < 1 MinuteFor a long time, people used to live in detached houses in search of privacy and tranquility, and to avoid disputes with neighbors. However, with the natural evolution of life, the detached house and the surrounding plot of land—which was once used for raising animals and birds—have been transformed into a villa surrounded by a private garden and featuring a swimming pool to enhance luxury. Nevertheless, with the rising cost of land designated for construction and the increase in … Read more

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