Month: October 2021

“Tasfiqh executes 1.5 billion decisions for real estate shareholders

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Reading time: < 1 MinuteThe Real Estate Contributions Committee has “finalized” decisions to disburse the amount of ”1,507,804,144” riyals to shareholders in several real estate contributions across a number of regions in the Kingdom; following numerous procedures undertaken to safeguard the rights of shareholders in real estate contributions, including the preparation of legal, accounting, and engineering studies. It issued the necessary decisions, filed lawsuits, and completed the sale, transfer of title, and collection of funds. “Tasfiya” has begun disbursing funds to shareholders… Read more

“Real Estate Authority” seizes 4363 irregular advertisements and registers 14881 beneficiaries in real estate services (Infographic)

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Public Authority for Real Estate

Reading time: < 1 MinuteThe General Real Estate Authority has identified 4,363 non-compliant real estate advertisements since the issuance of the real estate advertising regulations; it has resolved 1,281 of them and taken regulatory action regarding the remaining violations. The number of real estate disputes heard by the Saudi Real Estate Arbitration Center reached 71, The number of registrants in the “Eqari” service reached 14,881 beneficiaries and 1,544 real estate entities, while the Power of Attorney service recorded 3,229 powers of attorney, and … Read more

Graduating the first cohort of the “Real Estate Media” program”

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Reading time: < 1 MinuteThe Prince Ahmed bin Salman Academy for Applied Media concluded the “Real Estate Media” training program by graduating its first cohort in Riyadh yesterday, in collaboration with the National Housing Authority, as part of both organizations’ commitment to developing the skills of media professionals to produce media content in the real estate sector. The training program’s sessions covered numerous practical models of journalistic reporting and equipped male and female media professionals with the appropriate tools for writing and coverage … Read more

Official campaign to curb the high prices of residential real estate in Riyadh (video)

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Riyadh city

Reading time: < 1 MinuteSources have revealed that the Ministry of Municipal, Rural Affairs, and Housing has launched campaigns aimed at reducing residential real estate prices in Riyadh. According to Al Arabiya TV, the sources explained that the campaign will introduce new residential projects in Riyadh to meet the growing demand for housing by increasing supply and balancing the gap between supply and demand. It is worth noting that residential real estate prices in Riyadh … Read more

Among 40 investment initiatives. Saudi Arabia plans to create up to 5 special economic zones to attract investments

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Reading time: < 1 MinuteInvestment Minister Khalid Al-Falih explained that there are 40 implementation initiatives that will provide high-quality investment opportunities for the private sector across all regions of the Kingdom. Al-Falih noted that the most prominent of these initiatives include the launch of four to five special economic zones with appropriate and incentivizing legislation, the provision of exceptional services to major strategic investors, as well as the establishment of a regional hub for startups to promote entrepreneurship and accelerate investment deals involving … Read more

“Engineers Association” Reveals the Truth Behind the Repeal of the “Building Code”

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Reading time: < 1 MinuteThe Saudi Council of Engineers clarified that reports circulating in a number of newspapers and on satellite channels claiming that it has called for a halt to the implementation of the “Building Code” is completely unfounded and that it has never made such a statement through any of its official channels, reaffirming its support for the code’s implementation since its early stages through its membership in the National Building Code Committee. The association’s official spokesperson stated that its role … Read more

“Saudi Real Estate Company: Agreement between Public Investment and Finance to transfer the remaining balance of the SAR 1.3 billion loan

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Reading time: < 1 MinuteThe Saudi real estate company announced the latest developments regarding the rescheduling of the loan provided by the Public Investment Fund. The company explained that it had received a letter from the Public Investment Fund stating that a transfer agreement had been concluded between the Fund and the Ministry of Finance for the purpose of transferring the remaining balance of the Fund’s loan—amounting to approximately 1.31 billion riyals—and the related rights and obligations to the Ministry, and requested approval … Read more

“Tasfiqa” issues disbursement decisions for more than 1.5 billion riyals to shareholders in real estate contributions in Saudi Arabia

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Reading time: < 1 MinuteThe Real Estate Contributions Committee “Tasfiya” announced the issuance of disbursement decisions for shareholders in several real estate contributions across a number of regions in the Kingdom.This came after “Tasfiya” took numerous steps to protect the rights of shareholders in real estate joint ventures, including preparing legal, accounting, and engineering studies, issued the necessary decisions, filed lawsuits, and completed the sale, transfer of title, and collection of funds. It is worth noting that … Read more

38.3 thousand households moved into their homes during the second quarter

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Reading time: 2 MinutesData from the Housing Bulletin for the second quarter of 2021, issued by the Housing Data and Monitoring Center, showed a notable increase in the number of households that moved into their homes during the second quarter compared to the same period in 2020, with 38,330 households moving into their homes, representing an actual occupancy rate exceeding 92%, and a year-over-year increase in the construction completion index of 40%. Further details can be found at … Read more

Population Monitoring Center: Construction Completion Index 40 % up year-over-year

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Reading time: 2 MinutesData from the Housing Bulletin for the second quarter of 2021, issued by the Housing Data and Monitoring Center, a notable increase in the number of households that moved into their homes during the second quarter compared to the same period in 2020, with 38,330 households moving in, representing an actual occupancy rate exceeding 92 %, and a year-over-year increase in the construction completion index to 40 %. It is possible … Read more

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