Month: October 2021

Abdulaziz Al-Issa writes: Digital Investment: The Future of Commerce

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Reading time: 2 MinutesWe are witnessing a strong launch of Saudi Arabia’s tourism roadmap, built on major achievements that began with ambitious projects in Al-Qiddiya, Al-Ula, Al-Dir’iya, the Red Sea, NEOM, The Line, and other attractive regions, This is in line with the comprehensive and balanced development taking place across all regions, which contributes to generating viable investment opportunities for investors both domestically and abroad. A few days ago, we witnessed the launch of a new tourism strategy from … Read more

Emiratization grows with “12” jobs thousand Saudis for real estate professions

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Reading time: 2 MinutesThe total number of employees in real estate professions in the Kingdom, as part of the «Collection Offices and Real Estate Services,» reached approximately 37,358 workers, «including approximately 12,328 Saudis, representing 33.1%.” With the entry into force of the Saudization decision, 70% of the total workforce at establishments engaged in targeted real estate activities must be Saudis, provided that the number of Saudis in the establishment is not less than one employee… Read more

Study: Residential Rents in the Kingdom Continue to Fall in August

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Social Development Bank

Reading time: < 1 MinuteJadwa Investment confirmed that prices in the ”Housing and Utilities“ continued to decline in August, due to a 4.21% year-over-year decrease in the ”Residential Rents“ subcategory and a 0.21% month-over-month decrease. It added that the Consumer Price Index (inflation) rose in August by 0.31% year-on-year and by 0.11% month-on-month. Within the Consumer Price Index, … Read more

Trading: Foreign investors recorded net purchases of 1.4 billion riyals in September... with total holdings valued at 299 billion

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Reading time: 2 MinutesA report released today by Tadawul revealed that the total value of purchases by “foreign investors” during September 2021 reached 16.37 billion riyals, representing 11.071% of total purchases, while the total value of sales reached 14.93 billion Saudi riyals, representing 10.101% of total sales. Thus, they recorded a net purchase of … Read more

Itqan Real Estate closes SAR 280 million deal in less than 48 hours of marketing and sales

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Reading time: < 1 MinuteIn the fastest-ever sale of the “Al-Kharj Road Warehouse Complex,” which spans 600,000 square meters, Al-Rashid stated: ”The success and speed of this transaction stem from investors” confidence in the real estate market.“ “Itqan Real Estate” has successfully marketed and sold the 600,000-square-meter Al-Kharj Road Warehouse Project in less than 48 hours after being commissioned to handle the sale and marketing, for a total value of … Read more

“Itqan Real Estate launches its marketing campaign to sell Al Shawqiya land within the boundaries of the Makkah Mosque

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Reading time: < 1 MinuteA rare investment opportunity spanning over a quarter of a million square meters: Itqan Real Estate has launched a marketing campaign to sell “Al-Shuqaiya Land,” which is considered a rare opportunity for investors and is located within the boundaries of the Sacred Mosque of Mecca, with a total area of 250,573.80 square meters in the Al-Shuqaiya neighborhood, one of Makkah’s upscale neighborhoods distinguished by its urban layout and densely populated area. It is an opportunity for those seeking distinctive housing and the sanctity of the location. … Read more

“White Lands”: Two plots totaling 15.3 million square meters registered in Jeddah… with retroactive fees

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White land

Reading time: 2 MinutesThe “White Land” program announced that it had registered two plots of land in Jeddah Province with a total area of 15.3 million square meters, after it was noted that they had not been registered in the system during the first phase, which covers undeveloped “raw” land with an area of 10,000 square meters or more, located within the announced scope in the cities where the system has been implemented. The program explained in a press release that the land… Read more

The implementation of the real estate sector localization policy is creating more than 11,000 job opportunities

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Reading time: < 1 MinuteThe Ministry of Human Resources’ decision regarding the localization of the real estate sector took effect on October 1, 2021. Mohammed Al-Masoudi, Director of Real Estate Sector Localization at the Ministry of Human Resources and Social Development, confirmed that the decision to localize the real estate sector will create 11,000 job opportunities in the real estate brokerage sector by localizing 70% of the total number of employees in operating companies … Read more

To ensure the quality of the urban landscape... “Municipal Affairs” sets 16 mandatory conditions for the fencing of white lands

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White land

Reading time: 2 MinutesTo mark the implementation of the decision, the Ministry of Municipal, Rural Affairs, and Housing has established mandatory regulations for fencing vacant lots within urban areas in cities, with the aim of ensuring the quality of the urban landscape and harmonizing their appearance with surrounding buildings in a civilized manner. According to the regulations, approval must be obtained from municipal authorities, and fencing must be installed along the entire perimeter of the land in accordance with a standardized design; the landowner is responsible for… Read more

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