Month: January 2022

Saudi Central Bank begins using Bloomberg's auction system

by
Saudi Central Bank

Reading time: < 1 MinuteStarting in January 2022, the Saudi Central Bank will begin conducting repurchase and reverse repurchase agreements (“repo and reverse repo”) and open market operations with banks operating in the Kingdom using the Bloomberg auction system. In 2018, the Central Bank announced the successful completion of a project to develop a platform for issuing bills and murabaha contracts, the “SAMA Electronic Platform,” using … Read more

Contract Awarded to “National Housing” to Complete Development Work on the “Al-Wajhah” Residential Project in Dammam”

by
Facade suburb

Reading time: < 1 MinuteThe “Wafi” Off-Plan Sales and Leasing Committee has assigned the task of completing the development of the “Al-Wajiah” residential project, located in the Al-Wajiah suburb of Dammam Province, to “Al-Wataniya Housing,” and revoked the off-plan sales license issued to the developer of the project, which offers 590 residential units. The “Wafi” Committee clarified that the decision is an extension of the Supervisory and Regulatory Committee’s efforts regarding licensed off-plan sales projects … Read more

Developing guiding models and alternative dispute resolution methods for commercial contracts

by
Commercial Dispute Resolution

Reading time: < 1 MinuteThe Ministries of Justice and Commerce have agreed to provide model commercial contracts that include provisions establishing the use of alternative dispute resolution methods, such as conciliation, arbitration, and other means, The two ministries also agreed to develop training programs on modern commercial legislation and to hold workshops for judges, their staff, lawyers, and legal advisors at commercial entities. This came during bilateral talks between Minister of Justice Dr. Walid Al-Samaani and Minister … Read more

Ministry of Justice completes digitization of more than 63 million real estate documents

by
Ministry of Justice - Foreclosure

Reading time: 2 MinutesThe Ministry of Justice has digitized more than 63 million real estate documents as part of the Real Estate Asset Digitization Initiative—one of the Ministry’s initiatives under the National Transformation Program—through its central digitization labs. Steps in the digitization of documents: The Ministry explained that the digitization process involves a series of steps, beginning with the courts and notary offices, where the documents are inventoried and compiled… Read more

“Wafi adopts new mechanisms to pay the value of the project land from the escrow account

by
Wafi's new logo

Reading time: < 1 MinuteThe “Wafi” off-plan sales and leasing program has announced new mechanisms to enable real estate developers to pay for project land from the escrow account, with the aim of facilitating financing for real estate developers to help boost the housing supply and maintain market balance, in line with the objectives of the Housing Program (one of the programs under the Kingdom’s Vision 2030) to increase the rate of home ownership among Saudi families to 70 percent by … Read more

Attribution and Liquidation Center offers 3 quality real estate investment opportunities in Riyadh

by
Real estate auctions

Reading time: < 1 MinuteThe Support and Liquidation Center «Enfaz» has announced a high-end in-person auction to be held under its supervision on Monday, January 10, 2022, featuring three major real estate investment opportunities in the city of Riyadh, with total areas estimated at over 20,000 square meters. The auctions include a half-share in a complex consisting of two-story showrooms and offices on the Ring Road … Read more

Ministry of Commerce launches draft Commercial Transactions Law for stakeholders and the public to express their views

by
Ministry of Commerce - Commercial Register

Reading time: 2 MinutesThe Ministry of Commerce has released a draft of the Commercial Transactions Regulation to interested parties and the general public to solicit their opinions and suggestions on the draft, in line with the principles of participation and transparency, and to improve the Kingdom’s commercial legislative environment. The Ministry has set 24/6/1443 AH as the deadline for receiving feedback. Regulation of Commercial Activities: To achieve its objectives, the draft regulation includes provisions governing the theoretical aspects of commercial activities, the concept of a merchant, and the store, … Read more

Saudi Engineers Organization launches “Model Contracts Documentation” service without fees

by
Corps of Engineers - Model Contracts

Reading time: < 1 MinuteThe Saudi Council of Engineers has launched the “Model Contract Authentication” service which enables individual and institutional beneficiaries to electronically authenticate their contracts with engineering service providers free of charge, as part of its ongoing efforts to improve its services, achieve advanced levels of performance, and enhance the engineering sector in the Kingdom. Engineer Abdulnasser Al-Abdullatif, Secretary General of the Saudi Council of Engineers, noted that this step, which was taken… Read more

CITC extends the transition period for domain names for the private sector and individuals by 3 months

by
Telecommunications Commission

Reading time: < 1 MinuteThe Communications and Information Technology Commission (CITC) announced the extension of the transition period for Saudi domain names for the private sector and individuals for an additional three months, ending on March 31, 2022, noting that all transition procedures have been automated electronically. The Authority noted that the extension decision does not apply to government domains, which will be transferred to the Digital Government Authority in accordance with its approved procedures and regulations, emphasizing that … Read more

Roshan selects Retal to build 103 residential units in Sidra project in Riyadh

by
Sidra Roshan Project

Reading time: < 1 MinuteRoshen Real Estate Development Group announced the signing of a partnership agreement with Retal Urban Development Company to build 103 residential units as part of the first phase of the Sidra project in Riyadh, This follows an extensive selection process, in which Retal Urban Development was chosen based on the technical and commercial criteria set by Roshen, in addition to its proven track record in … Read more

© 2026 Amlak Real Estate Newspaper | All rights reserved.