Month: October 2022

AED 1.8 billion worth of real estate transactions in Dubai yesterday

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Dubai Real Estate - Dubai Real Estate Actions

Reading time: < 1 MinutePress reports revealed that real estate transactions at the Dubai Land Department on Monday totaled more than 1.8 billion dirhams, with the department recording 481 transactions worth 1.58 billion dirhams, including 40 land transactions worth 549.42 million dirhams and 441 transactions for apartments and villas worth 1.03 billion dirhams. According to the report, the most significant land sales were valued at 300 … Read more

“Amlak” lists the most important new amendments to the state real estate disposal regulations to regulate the rental mechanism

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Riyadh - Real Estate in Riyadh - Trade Names System

Reading time: 2 MinutesEarlier this week, the General Authority for State Real Estate posted draft amendments to the regulations governing the disposal of state real estate on the “Isti’lal,” aimed at optimizing the use of state-owned real estate. The amendment defines the annual rent as the annual rental amount stipulated in the lease or investment contract for state-owned real estate, and the Authority may, with the governor’s approval, extend the lease agreement in cases that warrant an extension … Read more

More than 130,000 Saudi families have moved into their first home in 9 months

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Mersiya View - North Riyadh - Residential Projects

Reading time: < 1 Minute  The “Sakani” program announced that 113,013 Saudi families had benefited from the beginning of the year through the end of last September from all the housing options and financing solutions the program offers its beneficiaries online, through simple and accessible procedures, Meanwhile, the number of Saudi families who moved into their first homes reached 130,462, as part of the program’s efforts to support beneficiaries in achieving the housing program’s goals… Read more

Real Estate Development Fund deposits 884 million riyals into beneficiaries' accounts

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Mortgage Loans - Finance Companies

Reading time: < 1 MinuteThe Real Estate Development Fund announced today that it has deposited 884 million riyals into the accounts of “Sakani” beneficiaries from the Ministry of Municipal, Rural Affairs, and Housing and the ”Real Estate Fund” for the month of October 2022. Mansour bin Madi, CEO of the Real Estate Development Fund, said: “Total subsidies for October amounted to 884 million riyals, allocated to subsidize the profits from subsidized mortgage contracts,” explaining that the total amount deposited … Read more

The Asset Recovery and Liquidation Center is offering 300 real estate properties in 16 public auctions

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Real estate auctions

Reading time: < 1 MinuteThe Enforcement and Liquidation Center “Enfaaz” announced that it will hold 16 public auctions—ranging from in-person to online auctions—to sell real estate in various regions of the Kingdom from October 24 to 31, 2022, The properties range from commercial, residential, and agricultural land to villas, mansions, and apartment buildings, with the auctions featuring more than 300 real estate assets. The auctions will begin with the Mishraq Al-Batin online auction, which … Read more

Ministry of Justice issues more than 350,000 real estate agencies

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Ministry of Justice - Foreclosure

Reading time: < 1 MinuteThe number of powers of attorney issued by the Ministry of Justice for the real estate sector over a three-month period reached 350,174, accounting for 25% of the total powers of attorney issued, which amounted to 1.4 million, while claims and courts accounted for 281,201 powers of attorney, followed by banks and financial institutions with 156,703 powers of attorney. Notary offices in Riyadh accounted for 92.9% of the total notary offices, with 1.3 million, followed by the Makkah region with 39.7 … Read more

Export-Import Bank approves credit facilities worth 9.4 billion riyals

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Saudi Arabia's trade balance

Reading time: < 1 MinuteThe Export-Import Bank has approved credit facilities totaling 9.4 billion riyals from the beginning of 2022 through the end of the third quarter, of which export credit insurance applications accounted for approximately 5.9 billion riyals, in addition to export financing applications worth 3.5 billion riyals, thereby supporting export activities in various vital sectors such as fertilizers, petrochemicals, glass, plastics, and iron and steel, to name a few… Read more

General Authority for State Properties offers 25 real estate opportunities for investment in 10 regions

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Public Authority for State Properties - «Lease System» contracts»

Reading time: < 1 MinuteThe General Authority for State Real Estate has offered 25 real estate investment opportunities in 10 regions with lease terms of up to 30 years, through a public auction on the “Opportunities” portal. The Authority clarified that the real estate opportunities are distributed across the Riyadh region, including mixed-use commercial land in the neighborhoods of Al-Muhammadiyah, Al-Gharabi, Al-Malaz, and Al-Faisaliyah, as well as opportunities in the … Read more

“The ”Ministry of Industry” Organizes Three Panel Discussions as Part of the National Industrial Strategy Exhibition

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Ministry of Industry and Mineral Resources

Reading time: 2 MinutesThe Ministry of Industry and Mineral Resources is organizing three panel discussions today as part of the National Industrial Strategy Exhibition, which was launched by Crown Prince Mohammed bin Salman, Prime Minister, with the aim of achieving a competitive, resilient, sustainable, and investment-attractive industrial economy. In a statement, the ministry announced that 15 speakers—including officials from relevant government agencies and leaders from the industrial sector—will participate in the three sessions … Read more

“State Real Estate” discusses providing aerial imagery to verify land ownership eligibility

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Public Authority for State Properties - «Lease System» contracts»

Reading time: < 1 MinuteIhsan Bafqih, Governor of the General Authority for State Real Estate, discussed with Dr. Mohammed Al-Sayel, President of the General Authority for Surveying and Geospatial Information, the findings of the joint technical team tasked with providing aerial photographs, with the aim of verifying land ownership rights and facilitating and expediting the processing ofapproval of ownership applications through the Ihkam platform. The meeting also included a review of the Geospatial Authority’s journey since its inception … Read more

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