Month: October 2021

Here is an interactive guide to tax eligibility for organizations contracting with government entities

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Zakat, Tax and Customs Authority

Reading time: < 1 MinuteThe Zakat, Tax, and Customs Authority has launched an interactive guide on the amended tax treatment of supplies made by businesses to government entities under the Government Tenders and Procurement System, This follows a decision by the Authority’s Board of Directors on October 8, 2021, approving the amendment of Article (20) of the Value-Added Tax (VAT) Implementing Regulations, regarding the determination of the date of supply and tax liability in … Read more

“Enforcement” is overseeing an auction of 15 properties totaling 46,000 square meters north of Riyadh

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Real estate auctions

Reading time: < 1 MinuteThe Enforcement and Liquidation Center “Enfaaz” announced that it will hold the “Riyadh Atheer Auction” on October 20 at Al-Khuzama Hall at 4:00 p.m. to showcase 15 real estate and investment opportunities, consisting of a range of land plots, villas, and commercial and residential properties in several Riyadh neighborhoods for real estate investment. The total area of these properties exceeds 46,742 square meters. The auction will showcase a collection … Read more

‘Sakani’ Issues 1,664 Electronic Contracts for Residential Land in September

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Residential platform

Reading time: < 1 MinuteThe Sakani Program issued 1,664 residential land contracts to program beneficiaries last September as part of its diverse housing and financing options designed to facilitate homeownership for Saudi families, in line with the objectives of the housing program —one of the programs under the Kingdom’s Vision 2030—to raise the homeownership rate to 70% by 2030. In a press release, “Sakani” explained that the land included 333 plots in … Read more

A 6-month annual bonus for employees who excel in uncovering fronting crimes

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Commercial concealment

Reading time: 2 MinutesThe rules governing exemptions and the granting of financial rewards to employees who report crimes and violations as stipulated in the Anti-Fronting Regulation include: the payment of an annual reward not exceeding three months’ basic salary or wages to an employee who reports crimes and violations as stipulated in the law, based on a report prepared by the competent department within the Ministry. The Minister may, by decision, increase the reward … Read more

As the negative effects of the coronavirus pandemic recede. 440,000 work visas issued in the second quarter

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Reading time: < 1 MinuteWork visas issued by the Kingdom to foreigners during the second quarter of 2021 saw a significant year-over-year increase, as the negative effects of the COVID-19 pandemic subsided and air travel improved compared to the same period last year. According to data from the General Authority for Statistics, the number of visas in the second quarter rose to 440,950, compared to 49,570 in the same quarter … Read more

More than 200,000 cubic meters of construction waste removed in Tabuk

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Reading time: < 1 MinuteThe Tabuk Regional Secretariat and its affiliated municipalities continue to address visual pollution in various cities and governorates across the region. Since the launch of the initiative and campaign “Addressing Visual Pollution” to date, specialized teams have removed more than 215,996 cubic meters of construction and demolition waste and excavated material from vacant lots, and 1,368 vehicles have been towed… Read more

Sidra neighborhood. Building 4500 housing units in the first phase

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Sidra Residential Project Roshan

Reading time: 2 MinutesAbdullah Maghram, spokesperson for the Saudi real estate developer “Roshen”—a national developer of residential areas and a wholly-owned subsidiary of the Public Investment Fund—confirmed that the launch date for the off-plan sales phase of the first stage of the new Sidra neighborhood in Riyadh will be this coming Thursday, October 7. Maghram said that the off-plan sales process will take place by booking an appointment … Read more

230 dilapidated properties removed in Jeddah

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Reading time: < 1 MinuteYesterday, the Jeddah Municipality, in collaboration with security agencies and service providers, began demolishing a number of buildings at risk of collapse, totaling 230 properties in the Al-Sabeel neighborhood within the jurisdiction of the Al-Balad Sub-Municipality.Engineer Mohammed Al-Qahtani, Director General of Informal Settlements at the Secretariat, explained that the demolition is a continuation of the reorganization and removal of buildings at risk of collapse recently carried out by the Jeddah Secretariat in many areas and neighborhoods … Read more

Real estate prices are rising in Dubai, while rents continue to fall

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Reading time: < 1 MinuteCBRE Group said that average residential property prices in Dubai rose 4.4 percent in the 12 months ending in August, marking the highest annual increase since February 2015.However, a continued decline in rents points to ongoing weakness in the sector, which has been struggling for some time. CBRE said rents in Dubai continued the trend … Read more

UK house prices record biggest monthly increase since 2007

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Reading time: < 1 MinuteAn economic report released Thursday showed that UK home prices rose in September at their fastest pace in more than 14 years, driven by strong demand despite the challenges facing the British economy.According to a report by the British mortgage lender Halifax, home prices rose by 11.7% last month to £267,587 ($363,000) per home, following an 0.8% increase in August. … Read more

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