Month: September 2022

Online platform for financial transactions in real estate brokerage Implementation in January

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Public Authority for Real Estate

Reading time: < 1 MinuteThe General Real Estate Authority announced that it will begin processing financial transactions in real estate brokerage through a specialized electronic platform, where contract funds will be deposited into a “security account,” starting in mid-January, with the aim of safeguarding the financial rights of all parties involved in the sector. The Authority noted that this development comes amid the digital transformation and as a result of a study on the possibility of integrating platforms … Read more

“Wafi awards 8 companies ”Qualifying Real Estate Developers“ certificates to develop ”off-plan projects“

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Off-plan sales projects - Real estate transactions

Reading time: < 1 MinuteThe Off-Plan Sales and Leasing Committee (Wafi) has issued qualification certificates to eight real estate companies that have met the requirements for developing off-plan projects. These certificates are valid for a period ranging from one to three years. The companies are: Amial Construction Real Estate Development Company. Rawas Advanced General Contracting Company. Sak Real Estate Company. Al-Makan Real Estate Development and Investment Company. Al-Anoud Contracting Company. Adir Company … Read more

“Amlak publishes the general features of the new executive regulations on the mechanism for renting state properties

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Reading time: < 1 MinuteThe draft executive regulations for the State Property Leasing System grant the General Authority for State Property the right to suspend the leasing process if neighbors of the property to be leased by the government entity object before the contract is signed and their reasons are valid. The regulations also set forth conditions for subleasing the property to third parties in the public interest. “Amlak” outlines the key features of the regulations: Leasing … Read more

"Distinguished Cities Projects in the Reign of the Custodian of the Two Holy Mosques" exhibition to be launched in Riyadh on September 24

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Featured Cities Exhibition

Reading time: < 1 MinuteUnder the patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, may God protect him, the Ministry of Municipal, Rural Affairs and Housing is organizing, from September 24 to 28, 2022, the events of the third edition of the (Distinguished City Projects Under the Custodian of the Two Holy Mosques) in Riyadh, with the participation of numerous entities from the public and private sectors, as well as the first forum accompanying the exhibition. The aim is … Read more

Code of Ethics and Conduct for the Real Estate Appraisal Profession

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9 Real Estate Valuation

Reading time: < 1 MinuteParagraph (f) of Article 4 of the Code of Ethics and Professional Conduct for the Real Estate Appraisal Profession sets forth the duties of a certified appraiser when handling information and documents related to the preparation of an appraisal, including the following: – The appraiser must thoroughly verify the accuracy and reliability of the data used in the appraisal. – When obtaining information from the client, the appraiser must ascertain and document the extent to which … Read more

1.28 billion riyals for the allocation of industrial land in Ras Al-Khair Industrial City

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Al-Khobar Industrial City

Reading time: < 1 MinuteThe Royal Commission for Ras Al-Khair City for Mining Industries signed an agreement yesterday with a national company worth 1.18 billion riyals to allocate industrial land in Ras Al-Khair Industrial City. The agreement, signed by the CEO of the Royal Commission for Ras Al-Khair City, Engineer Ahmed Hassan, aims to establish and operate a copper smelting and casting plant covering an area of 250,000 square meters with a production capacity of … Read more

Jeddah Real Estate Exhibition kicks off on October 10 with wide participation from the public and private sectors

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Minister_of_Housing_Mr_Majid_Al-Haqeel

Reading time: < 1 MinuteWith broad participation from leading real estate development, housing, and financing companies, the “Restatex Jeddah Real Estate” will take place from October 10–13 across the entire Jeddah Convention and Events Center, under the patronage of His Excellency Majid bin Abdullah Al-Hogail, Minister of Municipal, Rural Affairs, and Housing. The exhibition will be held across the entire Jeddah Convention and Events Center, with broad participation from major … Read more

Amlak Articles... Matar Al-Shammari writes: The Basics of Real Estate Marketing

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Rain-Shammari

Reading time: < 1 MinuteBasics of Real Estate Marketing by Matar Al-Shammari 1- Read everything related to real estate, whether online or in print. 2- Make sure to attend training courses. 3- Gain marketing experience by working with real estate companies and agencies. 4- Make sure to follow professionals and experts in the real estate field. 5- Join real estate-related groups. 6- Make sure to attend real estate conferences and exhibitions. 7- … Read more

Amlak Articles... Sultan Hamad writes: Media Errors in Reporting Real Estate News

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Sultan Hamad - Real Estate Initiatives

Reading time: < 1 MinuteMedia Error in Reporting Real Estate News As many of you know—especially those interested in the real estate sector—the news reported by one of the official channels regarding the decline in land prices in Al-Malqa was based on a single source, without seeking out other sources to clarify the reasons and facts behind the sales activity in the real estate indexand what it is… Read more

White lands in Al Narges and Al Arid neighborhoods provide 13.5 thousand residential products

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White land

Reading time: < 1 MinuteData from the White Land Program shows that more than 13,500 housing units will be made available if these undeveloped areas in the Al-Narges and Al-Aared neighborhoods are developed, as they contain developed but undeveloped white spaces with a total area exceeding 4 million square meters. The program clarified that the area of developed but undeveloped land in the Al-Narges neighborhood amounts to 2.3 million square meters, while it exceeded … Read more

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