Month: March 2022

Custodian of the Two Holy Mosques approves extension of real estate ownership applications

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King Salman Cabinet

Reading time: < 1 MinuteThe Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, has approved the extension of the application period and the amendment of the rules and regulations governing the review of citizens’ applications for real estate ownership. The Minister of Finance and Chairman of the Board of Directors of the General Authority for State Property, Mohammed Al-Jadaan, affirmed that this approval reflects the leadership’s commitment to serving the public, noting the initiative of Crown Prince Mohammed bin Salman bin Abdulaziz … Read more

Saudi non-oil exports totaled 24 billion riyals in January 2022

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Reading time: < 1 MinuteThe total value of non-oil exports of goods and re-exports reached approximately 24 billion riyals in January 2022, according to preliminary official data released by the Saudi Export Development Authority, while the total value of non-oil exports last year reached 274 billion riyals. The Authority estimated the volume of Saudi exports at 69 million tons in 2021, … Read more

SAR 1 billion boosts sustainability of real estate financing at Saudi National Bank

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Al Ahli Bank with Saudi Refinance Company

Reading time: < 1 MinuteThe Saudi National Bank has strengthened the provision of long-term liquidity for its residential mortgage products and reduced potential risks associated with mortgage financing by signing an agreement with the Saudi Refinancing Company (SRC), The agreement aims to purchase a mortgage portfolio belonging to the bank worth over one billion riyals, in the presence of Majed Al-Hogail, Minister of Municipal, Rural Affairs and Housing and Chairman of the Company’s Board of Directors, and Ammar Al-Khudairi, Chairman … Read more

Housing Program Issues 2,672 Electronic Contracts for Residential Land in February

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White land

Reading time: < 1 MinuteIn February, the Sakani Program issued 2,672 electronic contracts for residential land to Saudi families eligible for the program through its mobile app, as part of the diverse housing and financing options it offers to facilitate homeownership in line with the program’s goals to raise the homeownership rate among Saudi families to 70% by 2030. “Sakani” explained that the plots included 369 in Riyadh and 1,545 in Makkah … Read more

“Tasawe” Signs Agreement with Tilal Real Estate to Develop Infrastructure for the Qalb Al Khobar Project

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Tasawe and Talaal Company

Reading time: < 1 MinuteTasawe “Tasawe” to carry out infrastructure works for the Al Khobar Heart project, which include site preparation, road works, and electrical, telephone, water, and sewage networks, as well as stormwater drainage and other works, following the signing of an agreement in Al Khobar with Tallal Real Estate Company. The Al Khobar Heart project includes a variety of residential, commercial, and recreational facilities and is considered one of the most unique projects of its kind in … Read more

“Rafal Selects Hawaya Auctions to Market and Sell the Al-Narges Suburb Project in Northern Riyadh

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Hawiya Auctions and Rafal

Reading time: < 1 MinuteRafal Real Estate Development has appointed Howaya Auctions to market and sell the Al-Narges Suburb development, located north of the capital Riyadh. The signing ceremony was attended by Rafal’s Managing Director, Saleh Al-Hanaki, the company’s CEO, Elias Abu Samra, the Vice Chairman of the Board of Directors of Hawaya Auctions, Mohammed Al-Olayan, and the company’s CEO, Abdullah Al-Askar. Abdullah Al-Askar stated that the agreement will have a positive impact on the reality … Read more

Within 7 months. Transfer of 249.1 thousand manual real estate deeds to the comprehensive system of “electronic deed”

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Riyadh city

Reading time: < 1 MinuteThe Ministry of Justice has completed the conversion of 249,100 manual real estate deeds to the comprehensive “Electronic Deed” system over the past seven months of the current Hijri year. The residential sector accounted for about 70 percent of these deeds transferred to the comprehensive system, followed by the commercial sector with 30 percent. According to data released by the Ministry of Justice and reviewed by “Al-Eqtisadiah,” the Riyadh region accounted for … Read more

Riyadh tops the rental index 146 thousand contracts documented in February

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Riyadh - Price Control -

Reading time: < 1 MinuteThe total number of commercial and residential contracts registered on the network reached more than 146,000 in February, with Riyadh leading the real estate index for rental transactions with 32% of the total transactions, followed by Jeddah with 25%, while Makkah and Dammam each recorded 6%, and then Madinah with 5%, and finally Al-Khobar with 4%. The rental index aims to … Read more

Real Estate Articles... By M. Nayef bin Abduljalil Bastaki: 6 Steps to Marketing Real Estate Products (2-3)

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14 Articles on Real Estate Trends - Al-Kharmani - Bastaki

Reading time: 2 MinutesOnce a sufficient number of customers has been identified, along with their demographics and the channels for reaching them, the next step is to determine the type of message and tone needed to convince customers to try the new product. The message should highlight the benefits the product will provide to the customer, rather than simply listing the product’s features. It should also emphasize the company’s ability to deliver the product… Read more

Measurement House Auction Company offers 15 properties in the “Eshraqa Riyadh” auction”

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Measuring house

Reading time: < 1 MinuteUnder the supervision of the Enforcement and Liquidation Center ”Enfaaz,” Dar Al-Qiyas Auction House announced that it will hold the “Ishraqa Riyadh” auction, featuring a selection of properties in central and eastern Riyadh, on the afternoon of Tuesday, March 29, 2022, at the Holiday Inn Al-Azhar – Riyadh. “Dar Al-Qiyas” explained that the auction features 15 diverse properties (residential and commercial), consisting of villas and land lots … Read more

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