Month: June 2022

Prince Mohammed bin Salman’s regional tour… reinforced the Kingdom’s leadership… and underscored its global political and economic influence

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8. The Crown Prince's Tour

Reading time: 2 MinutesHis Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Deputy Prime Minister, successfully concluded his regional tour, which included the Arab Republic of Egypt, the Hashemite Kingdom of Jordan, and Turkey, during which he reinforced the Kingdom of Saudi Arabia’s established role in finding political, economic, and security solutions for the region, placing it in the global spotlight as it drives inspiring initiatives to strengthen … Read more

During the Real Estate Valuation Forum 240 billion valuations of real estate assets in 6 months

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Real Estate Valuation Forum - Al Mandeel

Reading time: < 1 MinuteFaisal Al-Mandeel, Secretary General of the Saudi Authority for Accredited Valuers, revealed that more than 94,000 real estate asset valuations were conducted during the first half of 2022, totaling over 240 billion. This announcement was made during the Real Estate Valuation Forum organized by the Riyadh Chamber of Commerce, represented by its Real Estate Committee, in cooperation with the Saudi Authority for Accredited Valuers (TAQEEM) at its headquarters… Read more

The Ministry of Justice provides its e-services to more than 5 million users

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Ministry of Justice issues multi-party agency

Reading time: < 1 MinuteDuring 2022, the Najiz.sa e-Justice Services Portal has served 5.1 million users, eliminating the need to visit judicial offices by providing them with judicial services, enforcement, notarization, and other services remotely, with the same quality and efficiency. The Ministry noted that the portal recorded more than 27 million visits to its various e-services during the same period, and new services were added to the portal… Read more

“Enforcement approves Al Dal, the third e-auction platform

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Real estate auctions

Reading time: < 1 MinuteThe Enforcement and Liquidation Center “Enfaz” has approved the Al-Dal Auction Platform as the third platform for conducting real estate e-auctions assigned to the Center, thereby enabling service providers—specifically sales agents registered with the Center—to begin contracting with the platform (aldal.sa) to conduct auctions, just like the other approved platforms that are subject to the Center’s operational requirements and rules. Auction platforms are an essential tool for conducting electronic auctions and organizing operations … Read more

Articles of property... Architect Hisham Al-Qasem writes: Raise the price of your old house

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Hisham Al Qasem Real Estate Articles - Real Estate Investment - National Day 95 - Housing Projects Don't buy a property without a consultant - The Journey of Home Ownership

Reading time: 2 MinutesArchitect Hisham Al-Qasim: People are constantly seeking stability and balance in their lives, and buying an older home is generally one way to achieve that stability at a lower cost. When you buy a home, you have the freedom to choose and decide whether you prefer this neighborhood over that one, and you can look for properties within your budget and near your workplace, as well as the services and amenities you prefer. No matter how confident you are… Read more

Public Authority for Real Estate 2486 real estate advertisements in a month

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Public Authority for Real Estate

Reading time: < 1 MinuteThe General Real Estate Authority identified 2,486 non-compliant real estate advertisements between May 21 and June 22 of this year, resolved 340 of them, and referred 983 to the Investigation and Dispute Resolution Department, while 1,163 ads remain under review. This is part of the Authority’s efforts to monitor the implementation of the regulations governing real estate advertising and the licensing standards for electronic platforms serving the real estate sector, as well as to improve the quality of services… Read more

Worth 275 million riyals. Al-Ahsa Municipality offers 362 investment opportunities“

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Municipal Investment Forum in Al-Ahsa

Reading time: 2 MinutesHis Excellency the Minister of Municipal and Rural Affairs and Housing, Mr. Majid bin Abdullah Al-Hogail, revealed that the investment opportunities available to Al-Ahsa Municipality on the ”Opportunities” portal reached 362 opportunities in 2021, an increase of 53% from 2020, with a total value of more than 275 million riyals, indicating that the investment opportunities available to Al-Ahsa this year amounted to 112 investment opportunities. Attractions ... Read more

Worth 2.07 billion riyals... Saudi National Bank restructures the debt of the Saudi real estate company

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Saudi Real Estate Company - Real Estate Development

Reading time: < 1 MinuteThe Saudi National Bank has restructured the debt associated with the existing loan it granted to the Saudi Real Estate Company in the amount of 2.07 billion riyals, with a repayment schedule aligned with the company’s future cash flows.  The company clarified that the term of the previous financing facility No. (1), in the amount of 1.62 billion riyals, is 7 years with a grace period until the first installment is due on November 21, 2021. It noted that the facility … Read more

Residential program issues 12,401 electronic contracts for free land in 5 months

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Inquire about housing entitlement with ID number

Reading time: < 1 MinuteFrom the beginning of 2022 through the end of last May, the Sakani Program issued 12,401 electronic contracts for free residential land to Saudi families eligible for the program via its mobile app, in preparation for beneficiaries to begin construction, as part of the diverse housing options and financing solutions offered by the program to facilitate first-time homeownership, with the goal of raising the homeownership rate among Saudi families to 70% by … Read more

The Riyadh Chamber of Commerce and Industry Highlights the Risks of Dealing in Cryptocurrencies

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Cryptocurrencies

Reading time: 2 MinutesThe Riyadh Chamber of Commerce and Industry shed light on the risks associated with dealing in cryptocurrencies through a lecture organized by the Chamber’s Legal Department. The event aimed to provide an overview of the types of cryptocurrencies, their origins, their nature, and the stance of regulators and legislators toward them. Dr. Mishaal bin Saleh Al-Samhan, a professor of commercial law at Majmaah University and a researcher in financial technology, presented an overview of the history and origins of cryptocurrencies during the lecture. Cryptocurrencies and Bitcoin … Read more

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