Month: February 2023

March 1 deadline for fencing off vacant land in Qatif

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Reading time: < 1 MinuteThe Eastern Province Municipality has set the first of next March as the deadline for owners of vacant lands targeted for fencing on some axes and main roads in Qatif Governorate to fence their lands, calling on property owners in the targeted locations to quickly fence them during the remaining deadline to avoid the application of the penalty list for municipal violations. The Municipality indicated that the axes and roads targeted by the fencing decision during the ... Read more

Statistics: 5.4% growth of the Saudi economy in the fourth quarter of 2022

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Riyadh - Business - Localization of real estate activities and professions

Reading time: 2 MinutesThe Kingdom's real GDP during the fourth quarter of 2022 achieved a growth of (5.4%) compared to the same period of the previous year 2021, while the real GDP during 2022 achieved a growth of (8.7%) compared to the previous year (2021). This came during the report of the rapid estimates of the GDP growth rate for 2022 and the rapid estimates of the GDP ... Read more

«More than 36,000 certificates of origin issued last month

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Certificates of origin

Reading time: < 1 MinuteThe Ministry of Industry and Mineral Resources has issued more than 36,000 certificates of origin since the transfer of the “Certificate of Origin Service” to it in early January, as part of its efforts to support and facilitate the service for exporters in various sectors, whether industrial, commercial or individual. The certificate of origin is a document that states that products exported abroad are of national origin or ... Read more

Implementation of the State Real Estate Leasing Law and its executive regulations

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Public Authority for State Properties

Reading time: 2 MinutesThe Public Authority for State Real Estate (PASRE) announced that the State Real Estate Leasing System and its executive regulations came into effect yesterday, after Royal Decree No. M/136 dated 28/12/1443 AH was issued approving the system and 180 days after its publication in the Umm Al-Qura Gazette, as well as the adoption of its executive regulations by the Authority's Board of Directors and its publication. The system will replace ... Read more

General Real Estate Authority launches real estate advertising license service

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Public Authority for Real Estate - Off-plan Selling

Reading time: < 1 MinuteThe General Authority for Real Estate has launched the real estate advertising license service, which enables the advertiser to advertise the property according to the real estate brokerage system, and this service comes as an alternative to the previous requirement that requires the presence of an advertiser number in the real estate advertisement. This service is currently available to the individual broker and the establishment broker, and will be available in the next phase to the owner of the establishment directly through ... Read more

Municipality and housing: Modernizing Financial Limits Initiative Contributes to the Development of the Contracting Sector

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Minister of Municipal and Rural Affairs and Housing - Advertising Scheme

Reading time: < 1 MinuteThe Ministry of Municipal, Rural Affairs and Housing has confirmed that the initiative to periodically update the financial limits that it launched as part of its contribution to the coordination committee for the development of the contracting sector is commensurate with the market conditions, which aims to achieve its strategic objectives to develop policies to ensure that contractors' capabilities are equal to the projects offered in fair competitions. The ministry said in a statement that the initiative contributes to improving ... Read more

«Enforcement organizes 14 public real estate auctions to liquidate more than 210 properties

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Real estate auctions

Reading time: < 1 MinuteThe Enforcement and Liquidation Center (Enforcement) announced the holding of 14 public auctions ranging from physical and electronic auctions to sell more than 210 properties in various regions of the Kingdom, between February 1 and 2, 2023. The Enforcement Center explained in a statement that the properties vary between commercial, residential and agricultural lands, villas, buildings, rest houses and buildings, and the auctions start with an auction ... Read more

«Industry»: Application phase for 12 building materials quarry licenses begins

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Offering investment opportunities

Reading time: 2 MinutesThe Ministry of Industry and Mineral Resources announced the start of the application phase for investment opportunities for 12 licenses for building materials quarries to compete in the new Jeddah Governorate Crusher Complex in the Makkah region, located approximately 20 kilometers east of Jeddah Governorate in the west of the Makkah and Madinah highway. It said in a statement that the licenses offered for competition include: 5 licenses ... Read more

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