Month: November 2021

For the first time The Ministry of Investment launches the service of establishing and starting a business from outside the Kingdom

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Ministry of Investment - Trade Licenses

Reading time: < 1 MinuteIn just three online steps, the Ministry of Investment today launched a new service for establishing and starting a business from outside the Kingdom, in partnership with the Ministry of Foreign Affairs and the Ministry of Commerce, with the aim of enabling companies and investors to obtain investment licenses quickly and easily in accordance with global best practices. This step contributes to strengthening the reforms being implemented by the Kingdom regarding doing business in the Kingdom for investors and companies, and it also comes … Read more

Dr. Mons Shujaa writes: The seventh anniversary of the pledge of allegiance to the Custodian of the Two Holy Mosques is an insightful vision and an ambitious plan

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Remembering the Pledge of Allegiance

Reading time: 2 Minutes (96) Strategic Objectives of the Kingdom’s Vision 2030, built on the leadership of the Kingdom and its citizens. Here we are, marking the anniversary of the accession of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz—may God protect him—the seventh anniversary of the Custodian of the Two Holy Mosques assuming the reins of power in the country. On this occasion, we renew our pledge, loyalty, love, and sense of belonging to this generous nation and its wise leadership, and we express our feelings of loyalty to our rulers… Read more

“Sakani”: More than 175,000 families have benefited from housing solutions since the beginning of 2021

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Housing 2021

Reading time: < 1 MinuteThe “Sakani” program reported that 175,520 families have benefited from various housing options and solutions from the beginning of 2021 through the end of October, while the number of families who moved into their homes reached 149,619, as part of “Sakani’s” ongoing efforts to achieve the goals of the housing program—one of the programs under the Kingdom’s Vision 2030—by enabling Saudi families to own their first home to reach a homeownership rate of … Read more

New agreement to regulate contractual procedures for telecom towers on state property

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State Real Estate and Telecommunications Company

Reading time: < 1 MinuteThe General Authority for State Property intends to regulate the contractual procedures for telecommunications towers located on state-owned property and to invest in certain state-owned sites under the Authority’s jurisdiction to construct additional towers, through the signing of a memorandum of understanding with Telecommunications Towers Limited “Tawal,” which specializes in providing infrastructure services for the telecommunications and information technology sector. This initiative reinforces … Read more

952 electronic land contracts for residential plots were issued to families benefiting from a housing program in October 2021

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Reading time: < 1 MinuteThe Sakani Program announced the issuance of 952 electronic contracts for residential land to Saudi families benefiting from the program during October 2021 through its mobile app, as part of its diverse housing and financing options designed to facilitate homeownership, in line with the objectives of the Housing Program—one of the programs under the Kingdom’s Vision 2030 – to increase the homeownership rate among Saudi families to 70% by 2030. The land included … Read more

Riyadh Tops the Real Estate Index for October... With Transactions Totaling 7.34 Billion Riyals

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Real Estate Index - October

Reading time: 2 MinutesRiyadh led the number of real estate transactions completed last October with 4,274 transactions in the residential and commercial sectors, an increase of 51% from September, when 4,054 transactions were completed. The value of October’s transactions exceeded 7.34 billion riyals, with 3,791 residential transactions worth 3.677 billion riyals, compared to 483 transactions in the commercial sector worth … Read more

Editor-in-Chief Abdulaziz Al-Issa writes about: The Pledge of Allegiance ... and Housing Achievements

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Reading time: < 1 Minute As is our custom in the business press, we take advantage of joyous national occasions to reflect on the fruitful harvest reaped by the Saudi people during the period in question or the date associated with the celebration; so that we may give the wise leadership its due recognition for what has been achieved, through the accomplishments that stand before us as a testament that speaks the language of numbers. On the occasion of the seventh anniversary of the accession of the Custodian of the Two Holy Mosques, King Salman… Read more

Saudi Commission for Accredited Valuers proposes amendments to its bylaws allowing it to invest

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Certified Resident System

Reading time: 2 MinutesThe Saudi Authority for Certified Residents has released a draft amendment to its regulations that would empower the Board of Directors to invest the Authority’s funds, including in real estate acquisition and leasing, financial instruments, and other investments. The Authority has invited interested parties and experts to share their opinions on the proposed draft via the “Istislaa” platform of the National Center for Competitiveness until December 8, 2021. Amendments … Read more

The National Housing Company plans to build 2,000 housing units in the Al-Jawan neighborhood and the Al-Mashriqia project

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National Housing Company

Reading time: 2 MinutesThe National Housing Company (NHC) plans to build more than 2,000 housing units in the Al-Jawan suburb and the Al-Mashriqia project in Riyadh, covering an area of over one million square meters, in collaboration with a number of real estate developers, This is being done through the signing of five agreements aimed at boosting the supply of residential real estate and increasing the number of housing options and suitable financing solutions for Saudi families benefiting from the housing program. The agreements come … Read more

The loss amounted to 628 million riyals. Arabian Centers Company announces the cancellation of the deed of “Al Raid Land” in Riyadh by a judicial decision

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Arabian Centers Company

Reading time: < 1 MinuteArabian Centres Company announced that the title deed for the land located on King Khalid Road at the intersection with Al-Orouba Road in Al-Ra’id District, Riyadh, has been revoked by a court order, and the company is taking all legal and judicial measures to recover the property or the purchase price from the seller. It noted that it had purchased the land for 1.77 billion riyals through lawful and regulatory procedures. According to its statement … Read more

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