Month: October 2021

28,000 electronic real estate transactions to be carried out in 2021

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Reading time: < 1 MinuteThe Ministry of Justice reported that the number of electronic real estate transfers has risen to more than 28,000 this year, 2021.It explained that these transactions are submitted through the Najiz.sa portal via the electronic real estate transfer service ept.moj.gov.sa, noting that the upper limit on the value of properties that owners wish to transfer electronically has been raised from three million riyals to 20 million riyals. It reported … Read more

Sami Abdel Aziz writes: Tunnels

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Reading time: 1 MinuteHumans have been building tunnels for a long time; the world’s oldest railway tunnel is located in England, This tunnel was used to connect limestone quarries to the Cromford Canal via horse-drawn trailers running on iron rails. Tunnel construction is a branch of civil engineering, and while it shares many fundamental principles with structural engineering, … Read more

“White Lands”: Development of 11 plots by their owners in Jeddah

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White land

Reading time: < 1 MinuteThe White Land Program announced the completion of the development of 11 plots subject to fees paid by their owners in Jeddah, with a total area of over 535,000 square meters. This is part of the program’s efforts to support supply and contribute to creating a balanced real estate market. The current phase focuses on undeveloped plots of 10,000 square meters or more, located within the announced scope … Read more

“Itmam” Approves Plans Covering 36 Million Square Meters Through the Third Quarter of 2021

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Real Estate Brokerage Compliance

Reading time: < 1 MinuteThe Real Estate Developers Services Center “Etmam” approved 13 residential projects during the third quarter of 2021, covering an area of 19.09 million square meters across all cities and regions of the Kingdom. This brings the total number of projects approved by “Etmam” —from the beginning of the year through the third quarter—to 22 residential plans, covering an area exceeding 36 million square meters, in line with the Center’s strategic objective of … Read more

“Enforcement” is overseeing five auctions featuring 47 real estate investment opportunities

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Real Estate Registration - Real Estate Transactions

Reading time: < 1 MinuteThe Enforcement and Liquidation Center (“Enfaaz”) has announced the holding of five public auctions for various properties in several regions across the Kingdom, scheduled to take place from October 6 to 14, 2021.The auctions will feature 47 real estate investment opportunities with a total area exceeding 1.6 million square meters, starting with the ”Mecca Inn Auction,” which will feature four real estate opportunities, namely… Read more

Rules governing real estate broker licenses 5% Maximum real estate deposit. 5 obligations to follow

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Reading time: 2 MinutesThe regulations governing real estate broker licenses stipulate 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 they are 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. The off-plan sale or lease program announced… Read more

Allowing categories to come directly to the Kingdom and lifting the suspension of travel to Bahrain for citizens under 18 years old

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Reading time: < 1 MinuteAn official source at the Ministry of Interior stated that, in light of the significant efforts being made by the government of the Custodian of the Two Holy Mosques to limit the spread of the coronavirus (COVID-19), and based on recommendations from the relevant health authorities in the Kingdom,it has been decided, (first), to allow direct entry into the Kingdom from countries that require travelers to spend 14 days outside the country before entering… Read more

“Municipality and Housing” approves amendments to the requirements of the Saudi Building Code for residential buildings

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Reading time: < 1 MinuteThe Ministry of Municipal, Rural Affairs, and Housing, in collaboration with relevant authorities, has approved certain amendments to the Saudi Building Code requirements for residential buildings regarding residential designs, with the aim of facilitating the work of engineering firms and beneficiaries.The Ministry clarified that the new amendments included requirements regarding the thickness of columns in residential buildings and ceiling heights, with the column width now set at no less than 20 centimeters instead of 25 centimeters, while … Read more

Housing sector provides 40,000 direct jobs and more than 115 billion riyals in GDP

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Reading time: 3 MinutesOn Arab Housing Day 2021... “Digital Transformation” in the Saudi Housing Sector Writes an “Unprecedented Success Story” As one of the vital sectors, the housing sector has received full support from the Saudi government for its digital transformation and service automation efforts, as it is one of the sectors that influences the country’s economy and lifestyle and social trends, intersecting with more than 100 economic and social activities, and because the housing sector… Read more

Transferring financial liability from the landlord to the tenant... Linking water bills to the “Ijar” network”

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Rent

Reading time: < 1 MinuteThe National Water Company and ”National Housing” — the operator and commercial operations manager of the Ijar program — today launched a service linking water meters to notarized lease agreements in the rental network, through which water meters are electronically transferred to the name of the actual beneficiary of the property unit during the contract notarization process. In a joint press release, the National Water Company and the National Housing Company explained that the linking process contributes … Read more

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