Month: September 2023

On the anniversary of the 93rd National Day Ibrahim Al-Subaie writes: The homeland unleashes the energies of youth

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Ibrahim Alsubaie - National Day 93

Reading time: < 1 MinuteOn the 93rd National Day, the Nation Unleashes the Energy of Its Youth Ibrahim bin Abdullah Al-Subaie On the occasion of this year’s 93rd National Day, I extend my warmest congratulations to His Majesty the Custodian of the Two Holy Mosques, His Royal Highness the Crown Prince, and the entire Saudi people. We have every right to celebrate this beautiful country, which is home to Islamic landmarks and holy sites and is visited by people from all over the world, as it is blessed with… Read more

Public Authority for Real Estate conducts monitoring tours in cooperation with Human Resources

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Part of the supervisory tours

Reading time: < 1 MinuteJoint field inspection teams from the General Authority for Real Estate and the Ministry of Human Resources and Social Development conducted inspection tours of real estate establishments to monitor compliance with the Real Estate Brokerage Regulation, with the aim of ensuring that these establishments adhere to the localization requirements of the real estate sector, as part of the ongoing cooperation between the General Real Estate Authority and the Ministry of Human Resources and Social Development. A number of violations were identified, and the joint inspection tours included … Read more

Al-Haqeel inaugurates the sunset walkway at Jazan's waterfront He inspects a number of development projects in the region

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Opening of the Sunset Corridor

Reading time: < 1 MinuteHis Excellency Majid bin Abdullah Al-Hogail, Minister of Municipal, Rural Affairs, and Housing, inaugurated yesterday the Sunset Promenade on the northern waterfront in Jazan, He also inspected a number of development projects in the region, including the King Abdullah Development Housing Project, and reviewed the progress of work on several of the Ministry’s initiatives in the region. His Excellency also met with leaders of the Jazan Municipality and mayors to review … Read more

13 legislations to regulate transactions in the real estate sector

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Riyadh - Business - Localization of real estate activities and professions

Reading time: < 1 Minute  Riyadh—Mohammed Jamos: The state and its wise leadership have demonstrated their commitment to the real estate sector by enacting and updating legislation that governs transactions among market participants. Thirteen real estate laws have been issued; including real estate regulations, implementing regulations, and regulatory rules, since the establishment of the General Real Estate Authority. The most notable legislation issued includes: regulations on off-plan sales and leasing, and regulations on contributions… Read more

Cabinet approves off-plan real estate sales and leasing system

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Custodian of the Two Holy Mosques

Reading time: < 1 MinuteDuring a meeting held yesterday in Neom and chaired by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, may God protect him, the Council of Ministers approved regulations governing the sale and lease of off-plan real estate projects. At the beginning of the session, His Majesty the King—may God protect him—spoke about the Kingdom’s celebration of its 93rd National Day, which falls on the coming Saturday, and what this occasion represents in terms of … Read more

“Rental Index records more than 340,000 transactions last month; Riyadh tops the list

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Riyadh - Saudi Real Estate Market

Reading time: 2 MinutesThe “Rental Index” recorded more than 340,000 rental transactions last August, according to reports and data released by the online rental services network “Ejar” in collaboration with the “Sakani” platform; The index covers more than 160 cities and provinces, encompassing most of the Kingdom’s cities and regions, marking the highest number of rental transactions recorded by the index in a single month. The rise in residential transactions and witnessed … Read more

National Housing: 3800 units worth 3.6 billion riyals

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National Housing Pavilion at Cityscape

Reading time: 2 MinutesThe National Housing Company (NHC) concluded its participation in Cityscape, the world’s largest real estate event, with a huge turnout and more than 100,000 visitors, recording more than 3,800 reservations worth over 3.6 billion riyals during the event, which took place from September 10 to 13 at the Riyadh Exhibition and Convention Center under the patronage of the Ministry of Municipal, Rural Affairs, and Housing, where … Read more

Dubai real estate tops global luxury home sales, New York in second place

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Dubai - Real Estate Deals and Sales 

Reading time: < 1 MinuteDubai Real Estate topped the list of the world’s leading cities in terms of sales volume for luxury homes valued at over $10 million in the second quarter, with a year-over-year total of approximately $1.6 billion, up from $797 million in the same period last year. According to a report by real estate consultancy Knight Frank, New York ranked second in terms of volume… Read more

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