Month: July 2023

Reading time: < 1 MinuteThe Council of Ministers approved the transfer of responsibilities for off-plan sales and leasing from the “Ministry of Municipal, Rural Affairs, and Housing” to the “Board of Directors of the General Real Estate Authority,” and in light of this, the regulations governing the program have been amended; The phrase “Board of Directors of the General Real Estate Authority” shall replace the phrase “Minister of Municipal, Rural, and Housing Affairs” wherever they appear in the regulations.

Reading time: < 1 MinuteThe Ministry of Industry and Mineral Resources, represented by the General Directorate of Comprehensive Industrial Service Centers and the Compliance Directorate, “1,579” field visits to industrial facilities in a number of regions across the Kingdom during the month of June; this was part of efforts to monitor factories, assess their readiness, and ensure their compliance with quality standards and necessary requirements. Riyadh factories topped the list of visits, and the Ministry’s official spokesperson explained … Read more

Reading time: < 1 MinuteThe Saudi Central Bank (SAMA) announced that it has granted Nakhla Information Systems Technology Company (“Tamara”) a license to conduct deferred payment activities in the Kingdom, bringing the total number of companies licensed to conduct this activity to four. The announcement was made in accordance with the Saudi Central Bank’s regulations and the regulations governing the supervision of finance companies. The authorization for this activity aims to provide financing to customers for the purchase of goods or services from … Read more

Reading time: < 1 MinuteThe Saudi Contractors Authority has launched the third edition of the 2023 Construction Sector Excellence Awards, which is open for registration until September 30, 2023, via the awards website. The Authority’s Chairman, Engineer Zakaria Al-Abdulqader, emphasized the Authority’s relentless efforts to provide numerous services and initiatives aimed at developing the construction sector and supporting its workforce; … Read more

Reading time: < 1 Minute In addition to organizing and correcting the real estate sector and putting it in an optimal direction, the General Authority for Real Estate has promoted the creation of more job opportunities through the real estate brokerage legislation, the real estate registration system, and the ownership and sorting of real estate units through the new real estate regulations that were recently approved and implemented.