Month: October 2022

Real estate transaction values fell by 54.6 % last week

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Real Estate Index - Riyadh City

Reading time: < 1 MinuteWeekly performance indicators for the real estate market showed a decline in the total value of transactions by 54.6%. The weekly decline was concentrated in the market’s two main sectors—residential and commercial—while the agricultural and industrial sectors saw an increase in total value. The value of residential sector transactions recorded a record weekly decline of 41.1%, settling at the end of last week at 1.6 billion riyals—“53.8 percent of … Read more

Launching 22 initiatives to develop the collective housing system for individuals to provide a favorable environment

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Group housing for individuals

Reading time: 2 MinutesThe Ministry of Municipal, Rural Affairs, and Housing announced the launch of 22 initiatives to develop the collective housing system for individuals, with the aim of providing a suitable and sustainable living environment for all workers in the Kingdom, ensure that housing units meet the necessary health, technical, and safety requirements for collective housing for individuals, and increase the percentage of collective housing units that comply with the required standards through the “Baladi” platform. Funding, legislation, and investment opportunities are among the initiatives… Read more

Amlak is the specialized real estate media sponsor of the Jeddah Real Estate Show

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Amlak Sponsors Restatex Jeddah

Reading time: < 1 MinuteWith specialized real estate media coverage provided by *Amlak* newspaper, the Restatex Jeddah Real Estate Exhibition kicks off today, Monday, and will continue until the evening of Thursday, October 13, at the Jeddah Convention and Events Center. During the exhibition—which is held under the patronage of His Excellency Majid bin Abdullah Al-Hogail, Minister of Municipal, Rural Affairs, and Housing—a series of partnerships and deals will be concluded, including exclusive offers… Read more

General Real Estate Authority launches “Shoot and Send” campaign to monitor real estate advertising violations

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Public Authority for Real Estate - Real Estate Announcement

Reading time: < 1 MinuteThe General Real Estate Authority, in partnership with the Ministry of Municipal, Rural Affairs, and Housing, has launched the “Snap and Send” campaign on the Baladi platform, with the aim of monitoring violations related to real estate advertisements in public places. The campaign seeks to foster engagement with the community and reduce the prevalence of non-compliant real estate advertisements. The Authority noted that an advertisement is considered non-compliant if it does not contain the information required by the regulations… Read more

The Jeddah Municipality is stepping up its efforts to enforce regulations governing group housing       

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Jeddah City Jeddah Real Estate - Jeddah Real Estate - Businesses

Reading time: < 1 Minute  The Jeddah Provincial Secretariat has decided to evict occupants from 180 sites designated for worker housing, as part of its field inspections to ensure compliance with regulations governing collective housing for individuals and the validity of their permits, with the aim of enhancing the services provided to citizens, improving the quality of life in the Kingdom’s cities, and safeguarding public health for all. For his part, the advisor to His Excellency the Mayor of Jeddah for the Workers’ Housing and Environmental Monitoring Program explained … Read more

Saudi Central Bank releases “Draft Amendments to the Financing Companies Supervision Law”

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Saudi Central Bank

Reading time: < 1 MinuteThe Saudi Central Bank has released a draft of the “Amendments to the Regulation on the Supervision of Finance Companies” for public comment, calling on the public, interested parties, and experts —in line with the principles of transparency and participation—to submit their views and comments on the draft via the “Istisla’al” platform operated by the National Center for Competitiveness. The Central Bank clarified that comments and observations on the “Draft Amendments to the Regulation on the Supervision of …” will be accepted… Read more

The “Enfaz” Foreclosure and Liquidation Center is offering 174 properties in 10 auctions

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Real estate auctions

Reading time: < 1 MinuteThe Support and Liquidation Center “Enforcement” announced that it is offering more than 174 properties of various types in ten public auctions—ranging from in-person to online auctions—to sell real estate and movable property in various regions of the Kingdom between October 9 and 16. The auctions include commercial, residential, and agricultural properties, as well as villas and apartment buildings, with more than 50 … Read more

Roshan and Al Muzaini agree to sell land worth SAR 223 million

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Sidra Roshan Project

Reading time: < 1 Minute   In a deal worth 223 million riyals, Roshen, the national real estate developer specializing in residential areas, signed a conditional land sale agreement with Al-Muzaini Real Estate for the Sidra residential project in the capital, Riyadh, covering an area of over 54,000 square meters, as part of an ambitious plan to build integrated residential communities. Sabah Barakat, Chief Operating Officer of the Roshen Group, explained that Roshen is working to develop concepts … Read more

The Restatex Jeddah Real Estate Exhibition showcases products from 40 real estate companies

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Restatex Jeddah - Real Estate Sale

Reading time: < 1 MinuteForty of the leading real estate development, marketing, and housing companies have finalized their preparations to participate in the Restatex Jeddah Real Estate Exhibition, which will take place from October 10–13, 2022, at the Jeddah Convention and Events Center. A series of partnerships and deals will be concluded during the exhibition, including exclusive offers from participants. The exhibition is sponsored by the Ministry of Municipal, Rural Affairs, and Housing and is held under the patronage of His Excellency the Minister of … Read more

Asir, Al-Qassim and Al-Ahsa launch second phase of fencing initiative

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Al Baida Land Fees Free Land

Reading time: < 1 MinuteThe Ministry of Municipal, Rural Affairs, and Housing announced the launch of the second and third phases of the Vacant Land Fencing Initiative, under which landowners whose properties are located within the areas targeted for fencing will be required to comply by March 1, 2023, for the second phase, with the third phase to be implemented on October 1, 2023. The second phase covers Asir, Al-Qassim, and Al-Ahsa, and new areas have been added in Makkah … Read more

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