Month: January 2023

Industry signs agreement with the Digital Government Authority to support the sector's digital transformation plan

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Reading time: < 1 MinuteThe Ministry of Industry and Mineral Resources signed an agreement with the Digital Government Authority (DGA) in the framework of activating the concept of inclusive government and supporting the digital transformation plan for the industry sector, in the presence of Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef and Governor of the Digital Government Authority, Engineer Ahmed bin Mohammed Al-Suwayan. The agreement aims to support the Ministry of Industry and Mineral Resources by unifying and integrating the platforms of the ... Read more

 The new corporate system. Various facilities to support small businesses and entrepreneurs

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Real estate developer profits

Reading time: < 1 MinuteThe new Companies Law and its executive regulations facilitated all requirements for small and micro companies to enable them to expand and grow, and facilitated their establishment procedures, and granted greater flexibility to include special terms and conditions in their articles of incorporation or bylaws, taking into account their newness and size and facilitating entrepreneurs. The law introduced a new form of company that did not previously exist, the “Simplified Joint Stock Company,” ... Read more

New real estate leasing system and its executive regulations go into effect next Thursday

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Public Authority for State Properties

Reading time: 2 MinutesThe Public Authority for State Real Estate announced that the State Real Estate Leasing System and its executive regulations will enter into force starting next Thursday, Rajab 11, 1444, corresponding to February 2, 2023, after the approval of the system and 180 days after its publication in the Umm Al-Qura newspaper, as well as the adoption of its executive regulations by the Board of Directors of the Authority and its publication. The Authority said in ... Read more

«Al-Huwaizi» as President of the Federation of Saudi Chambers and «Al-Raziza» and «Al-Shuaili» as Vice Presidents

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Reading time: < 1 MinuteThe Federation of Saudi Chambers elected, on Sunday, Hassan bin Mujib Al-Huwaizi as Chairman of the Federation's Board of Directors, and Badr bin Sulaiman Al-Raziza as First Vice President and Fayez bin Thaar Al-Shaeli as Second Vice President, for the new three-year term (2023-2026 AD). The election process took place under the direct supervision of the Board of Directors, with all members of the Board of Directors ... Read more

Two real estate opportunities in the Eastern Province to be auctioned off tomorrow in Al Khobar

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Reading time: < 1 MinuteAmmar Properties is offering two unique real estate opportunities in a public auction tomorrow, Monday, January 30, namely the Elite residential, commercial and investment scheme located in the heart of Al-Khobar city along the main King Faisal Road, and the Pearl residential and commercial scheme located in Al-Manar neighborhood in Dammam city. The Elite plan features 21 commercial and residential plots in a distinctive location; ... Read more

Saudi Central Bank launches draft «Banking Law» to solicit public feedback

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Saudi Central Bank

Reading time: 2 MinutesThe Saudi Central Bank (SCB) announced the launch of the draft “Banking System” to request public feedback, inviting the public, interested parties and specialists “to enhance the principle of transparency and participation” to express their views and comments on the project, through the “Reconnaissance” platform of the National Competitiveness Center (NCC). The Central Bank said in a statement: The Central Bank said in a statement that it prepared the draft banking system based on its competencies stipulated in its statute, in an effort to ... Read more

14 Articles in the Executive Regulations of the State Real Estate Leasing System Establish Principles and Transparency

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International Monetary Fund Riyadh office market

Reading time: 4 MinutesThe Umm Al-Qura newspaper published in its issue issued yesterday the executive regulations of the State Real Estate Leasing System, which aims to regulate the operations of state leasing through government agencies according to the needs of the agencies, taking into account the rationalization of the financial costs of government agencies“ real estate leasing operations. This is in order to promote the development of the utilization of the leased property by government agencies. The regulation includes provisions to promote the principles of governance ... Read more

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