Reading time: 2 MinutesThe Real Estate Contributions Law, which was approved by the Cabinet on Tuesday, requires obtaining a license from the General Real Estate Authority and approval from the Capital Market Authority (CMA) before offering a real estate contribution.
Reading time: < 1 MinuteThe Ministry of Industry and Mineral Resources has released its bulletin on industrial sector indicators for the first quarter of 2023, which provides a comprehensive analysis of the industrial sector and includes numerous figures and metrics reflecting the current state of the sector in the Kingdom. Chemical product factories lead the way The bulletin, issued by the Ministry’s National Center for Industrial and Mining Information, revealed that the number of factories in the Kingdom as of … Read more
Reading time: < 1 MinuteThe most important articles of the Real Estate Contributions Law approved by the Cabinet yesterday:
Reading time: 2 MinutesHis Excellency Majid bin Abdullah Al-Hogail, Minister of Municipal, Rural Affairs, and Housing and Chairman of the Board of Directors of the General Real Estate Authority, expressed his gratitude to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and His Royal Highness the Crown Prince—may God protect them—on the occasion of the Cabinet’s approval of the Real Estate Contribution System. He emphasized that the system is an extension of the real estate legislation framework overseen by the Authority … Read more
Reading time: 2 MinutesThe General Authority for Real Estate (G.A.R.E.) explained that the real estate unit sorting program witnessed a significant increase in the number of sorted units during the first half of 2023 by more than 25.6% compared to the same period in 2022, recording more than 48,800 sorted real estate units.
Reading time: < 1 MinuteThe National Housing Company (NHC) launched the third edition of its “Wa’ed” program for 2023, in the presence of Yazid Al-Nafisa, Executive Vice President of Finance and Shared Services, and a number of senior executives, at the Interactive Center headquarters in the Khuzam neighborhood north of Riyadh. Training 100 Trainees The program targets 100 recent graduates with bachelor’s and master’s degrees by professionally qualifying and preparing them for the job market … Read more
Reading time: < 1 MinuteThe General Real Estate Authority announced that it had registered more than 6.5 million lease agreements through “”Ejar,” ranging from residential to commercial. The increase in contracts during the first half of 2023 exceeded 1.3 million lease agreements, accounting for 20% of the total contracts documented in ”Ejar.” More than one million residential contracts. The Authority confirmed that residential lease contracts that … Read more
Reading time: 2 MinutesThe Ministry of Industry and Mineral Resources has started assessing the factories of the second tranche of the second phase of the Future Factories Program, which targets the first audited SIRI assessment of the 260 factories of the second tranche, whose licensed capital exceeds 200 million riyals.
Reading time: < 1 MinuteThe Citizen Account Program deposited 3.7 billion riyals today, earmarked for July payments to beneficiaries whose applications have been approved. The number of beneficiaries meeting the eligibility criteria for the 68th installment reached 11.2 million, he added. Abdullah Al-Hajri, Director General of Communications for the Citizen Account Program, explained that the total amount deposited by the program for beneficiaries since its launch exceeds 167 billion riyals, of which 2.3 billion … Read more
Reading time: < 1 MinuteMajid Al-Hogail, Saudi Minister of Municipal, Rural Affairs, and Housing, said that the Saudi Housing Guarantee Services Company “Damanat” is working to develop the mortgage market in the Kingdom in partnership with financing entities such as banks and financial institutions, and is contributing to the establishment of a secondary market for the mortgage sector.
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