Month: December 2023

$171.6 billion in real estate transactions in the Gulf in 10 months, with Dubai accounting for more than half

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Real Estate Deals in Dubai Land

Reading time: 2 MinutesThe value of real estate transactions in the Gulf Cooperation Council (GCC) countries rose by approximately 21.11% year-over-year from January through October, with the Emirate of Dubai accounting for 52.11% of the total value of those transactions. A report released Thursday by the Research and Investment Strategies Unit at Kamco Investment revealed that the value of real estate transactions in the Gulf states during the aforementioned period reached 171.6 billion … Read more

“National Housing Authority and New Square Development sign MoU to implement sustainability assessment standards

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Reading time: < 1 MinuteThe National Housing Company (NHC) and New Square Development Company signed a memorandum of understanding today in Riyadh to apply sustainability assessment criteria to the construction project for Riyadh’s newest downtown area, in accordance with the standards and specifications of the Kingdom’s Vision 2030. Representing the National Housing Company at the signing of the memorandum of understanding was Engineer Rayan Al-Aql, Head of the Solutions Sector, while the New Square Development Company was represented by its Acting CEO, Engineer … Read more

Workshop at the Jazan Chamber of Commerce on “Raising Awareness of Real Estate Development Services and Programs”

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Jazan Chamber

Reading time: < 1 MinuteThe Jazan Chamber of Commerce, in collaboration with the region’s Housing Affairs Branch, organized a workshop today titled ”Raising Awareness of Real Estate Development Services and Programs” at the Chamber’s theater in Jizan. The workshop, attended by a number of individuals interested in real estate in the region, addressed several topics: construction technology and its applications, capacity building and its applications, stimulating and developing the housing supply in terms of investment opportunities, and encouraging the sector … Read more

Real estate registration begins in Al Aqeel neighborhood in Madinah

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Medina Municipality headquarters - an investment opportunity

Reading time: < 1 MinuteReal estate registration has begun in Madinah via the Real Estate Registry platform, specifically for the designated area in the Al-Aqool neighborhood, and registration will continue until March 28, 2024. The General Real Estate Authority has called on owners of properties located within the Al-Aqool neighborhood in Madinah to register their property details on the platform via the link: eservices.rer.sa and to fulfill the registration requirements, which include the property owner’s national ID and the deed… Read more

Eight neighborhoods in southern Riyadh have been added to the Land Registry as part of Phase 3

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International Monetary Fund Riyadh office market

Reading time: < 1 MinuteThe General Real Estate Authority announced that eight neighborhoods in southern Riyadh have been added to the real estate registry as part of the third phase, which began earlier this week. The Authority called on property owners in the neighborhoods of Al-Hazm, Al-Zahra, Al-Suwaidi Al-Gharbi, Al-Arijah Al-Wusta, Al-Arijah Al-Gharbi, Al-Awali, Dhahrat Al-Badi’ah, and Luban to verify their title deeds… Read more

Saudi Arabia's cement prices and sales expected to recover in 2024

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Reading time: 2 MinutesAl Jazeera Capital expects cement prices in the Saudi market to recover in the medium term, coinciding with the end of the price war, which points to positive long-term trends for the sector. A recent report issued by the research firm noted that residential construction activity has declined due to a slowdown in the mortgage market and rising interest rates. Despite this, the implementation of … Read more

Qassim Chamber stimulates real estate development and financing with the ”Real Estate and Urban Planning Forum”

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Qassim - State Properties

Reading time: < 1 MinuteThe sessions held on the first day of the “Real Estate and Urban Planning Forum,” organized by the Al-Qassim Chamber of Commerce in Buraidah yesterday, the opportunities and advantages of the real estate and urban planning market, and how to reconcile commercial investment objectives in this sector with meeting the needs of beneficiaries and consumers in finding suitable housing and real estate. The forum features more than 20 booths for real estate sector entities, through which products are showcased … Read more

Qassim Cement signs binding agreement to acquire Hail Cement

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Reading time: < 1 MinuteLast Thursday, Al-Qassim Cement Company signed a binding implementation agreement with Hail Cement Company, under which the former will make an offer to Hail Cement shareholders to acquire all shares of Hail Cement in exchange for the issuance of new shares in Al-Qassim Cement. The two companies clarified in separate statements on Tadawul that this is in accordance with the provisions of Article (26) of the Mergers and Acquisitions Regulations, and in accordance with the rules … Read more

Real Estate Consulting and Analysis License Requirements and Benefits

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Who is a real estate developer?

Reading time: 2 MinutesNow that the General Real Estate Authority has adopted the regulatory framework for real estate consulting and analysis, many are seeking information on the requirements for obtaining a license, especially since the era of discretion in the field of real estate consulting and analysis has come to an end, following the publication of regulations requiring real estate consultants and analysts to obtain a license to practice their profession. Requirements for Obtaining a License: To be licensed to practice real estate consulting, one must… Read more

The Board of Directors of the Public Authority for Real Estate holds its 25th meeting and approves 2023 targets

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Board of Directors Meeting

Reading time: < 1 MinuteThe Board of Directors of the General Real Estate Authority held its 25th meeting, chaired by His Excellency the Minister of Municipal, Rural Affairs, and Housing, and Chairman of the Authority’s Board of Directors, Mr. Majid bin Abdullah Al-Hogail, and attended by His Excellency the Deputy Minister, Engineer Abdullah Al-Badeer, the Authority’s CEO, Engineer Abdullah Al-Hammad, and Board members representing government agencies and the private sector. The Board reviewed the decisions and directives issued by it, … Read more

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