Month: November 2021

With an area of more than one million and 247 thousand square meters, a workshop to discuss the obstacles of the “Makkah Path” project (photos)

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Reading time: 3 MinutesThe Royal Commission for Makkah City and the Holy Sites, represented by the Comprehensive Management Center, held a workshop today to review the key solutions and support measures required by the contractor for the Masar project, and to explore avenues of cooperation with more than fifteen government agencies to find solutions that ensure the project is implemented on schedule and meets operational requirements as planned. The workshop concluded … Read more

A look at real estate prices in Saudi Arabia: Residential Properties Stabilize and Rents Decrease 3.6%

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Villas Financing Housing Projects - Real Estate Finance

Reading time: < 1 MinuteA recent report released by Jadwa Investment for November revealed that real estate prices in the Kingdom remained stable at 0.51% during the third quarter of 2021, compared to the same quarter of 2020. The report indicated that commercial real estate prices recorded a slight decline of 0.71% compared to 2020, while residential rental prices fell significantly … Read more

The Real Estate Fund clarifies the mechanism for calculating the subsidy for citizens with a salary of 7400

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Real estate fund

Reading time: 2 MinutesA number of inquiries have been raised regarding the amount of support provided by the Real Estate Fund under the mortgage loan program, with citizens questioning the low level of support and the fact that it varies from person to person. For his part, “Abu Turki” directed his inquiry to the Real Estate Fund via Twitter, saying: “There is no delay in the subsidy, but the problem is that the subsidy amount is 1,195, my salary is 7,400, the monthly deduction is 5,000, and the number of family members … Read more

Itqan Real Estate launches its marketing campaign to sell the raw Al-Suli land south of Riyadh

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Al Suli Land - Itqan Company

Reading time: < 1 MinuteItqan Real Estate has launched its marketing campaign for the sale of the Al-Sali Raw Land plot located in the Al-Mashail neighborhood of Al-Sali, within the boundaries of King Salman Industrial City south of the capital Riyadh. The plot has a total area of 143,637.48) square meters, which is considered a promising industrial investment opportunity offering sustainable returns due to its prime location in the investment capital. In a press release issued to coincide with the launch of the campaign, Itqan Real Estate explained … Read more

1.27 trillion riyals worth of factories A plan to digitize 4000 factories

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Digitizing factories

Reading time: < 1 MinuteThe Ministry of Industry and Mineral Resources plans to transition 4,000 factories from heavy reliance on expatriate labor to digital automation within five years, according to a plan developed by the ministry. On this occasion, Minister of Industry and Mineral Resources Bandar Al-Khuraif explained that the ministry seeks to build an industrial environment that stimulates small and medium-sized enterprises, noting that small and medium-sized factories accounted for more than … Read more

SABB Bank offers instant international dollar transfers for businesses

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Online Data Update - SAP - Online Data Update - Global Trade

Reading time: < 1 MinuteThe Saudi British Bank (SABB) has launched an instant international dollar transfer service for businesses covering the United States, using blockchain technology powered by Ripple, The launch of this service was announced during the fifth edition of the Future Investment Initiative forum, organized by the Public Investment Fund from October 26–28, 2021, in Riyadh. … Read more

“Municipality and Housing” adds new activities to the classification of real estate development

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Riyadh City - Investment - Tourism - Real Estate - Real Estate Offices - Real Estate Investment

Reading time: < 1 MinuteThe Ministry of Municipal, Rural Affairs, and Housing announced on Tuesday that new real estate development activities have been included in the National Classification of Economic Activities, which is based on the International Standard Industrial Classification of All Economic Activities (ISIC 4). The new activities subject to classification include the purchase, sale, and subdivision of land and real estate; off-plan sales; as well as the management and leasing of owned or leased residential properties … Read more

25% of the cost of building without a Baladi license, and removal in case of conflict with regulation lines

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Reading time: < 1 MinuteThe Ministry of Municipal, Rural Affairs, and Housing has established regulations for dealing with buildings constructed without a valid permit, with the aim of curbing violations in this regard. The Ministry has specified the procedures that municipal authorities and local governments may follow, which include: if the constructed building violates zoning regulations, the building will be demolished at the violator’s expense; however, if the constructed building does not … Read more

“Municipal and Rural Affairs” classifies new activities for real estate development

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Ministry of Municipal and Rural Affairs and Housing

Reading time: < 1 MinuteThe Ministry of Municipal, Rural Affairs, and Housing announced today that new real estate development activities have been included in the National Classification of Economic Activities, which is based on the International Standard Industrial Classification of All Economic Activities (ISIC 4). Supporting and Developing the Sector: The Ministry explained that this step is intended to support and develop the real estate development sector, increase its efficiency, and encourage real estate developers to provide a residential environment … Read more

Global real estate market: Two largest purchases of more than $520 million

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Reading time: 2 MinutesBillionaires Marc Andreessen and Larry Ellison have recently made headlines in the real estate market, with Marc Andreessen purchasing a home in California in the largest transaction to date and Larry Ellison paying approximately $345 million for a resort on Lake Tahoe. These extravagant purchases include Andreesen, the head of the venture capital firm Andreesen Horowitz, paying approximately $177 million for a Malibu property, … Read more

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