Month: December 2023

3.1 thousand commercial agencies for the private sector since the beginning of 2023

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Justice - Execution Courts - Commercial Agency

Reading time: < 1 MinuteSince the beginning of 2023, notary offices have issued approximately 263,100 commercial powers of attorney for the private sector and the settlement of financial transactions, at a daily average of 741 issued powers of attorney. According to statistics, notary offices in the Riyadh region led with 43% of the total number of these powers of attorney, issuing approximately 113,000, followed by the Makkah region with 91,108, then … Read more

What is the difference between real estate consulting and analytics? 

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Real Estate - Ejar Platform

Reading time: < 1 MinuteAfter the General Real Estate Authority adopted the regulations governing real estate consulting and analysis, and following the announcement that the Saudi Real Estate Institute had begun accepting applications for the training program to obtain a ”FAL” license for real estate consulting and the FAL license for real estate analysis, some have begun to wonder about the difference between real estate consulting and analysis. To clarify the distinction between the two, the Authority confirmed that the difference between consulting and analysis is: … Read more

Applications for training courses in real estate consultancy and analytics are now open

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Public Authority for Real Estate - Off-plan Selling

Reading time: 2 MinutesThe General Real Estate Authority announced that the Saudi Real Estate Institute has begun accepting applications for the training program leading to the ”FAL” license for real estate consulting and the FAL license for real estate analysis. The Authority clarified that applications for the program will be accepted for five days via the Institute’s official website, as completion of the training program is a prerequisite for practicing real estate consulting or analysis … Read more

SAR 4.35 billion for the construction of the first phase of the Avenues project in Al Khobar

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Part of the signing of the agreement

Reading time: 2 MinutesYesterday, the Tourism Development Fund signed a 4.35 billion riyal financing agreement with a banking consortium led by the Arab National Bank and comprising the First Saudi Bank and Riyad Bank, and National Bank of Kuwait, along with Shumool Holding, to finance the construction of the first phase of The Avenues – Al Khobar project, which includes a shopping center and a mixed-use tower. The agreement was signed in the presence of the CEO of the Fund … Read more

Real Estate Commission Approves Regulations for Real Estate Consulting and Analysis

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Public Authority for Real Estate - Off-plan Selling

Reading time: < 1 MinuteThe Board of Directors of the General Real Estate Authority has approved the “Regulations on Real Estate Consulting and Analysis,” which form part of the real estate legislative framework, aiming to enhance the efficiency of the real estate market on the one hand and increase reliability on the other. These regulations are an extension of those established by the Real Estate Brokerage and Services Law and its implementing regulations. The regulations were adopted after being presented on the “Istislaal” to enable public and government entities … Read more

Sharqiya Municipality activates investment contract rentals via Ejar platform

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Eastern Province Municipality - Residential Plans

Reading time: < 1 MinuteThe Eastern Province Secretariat, in collaboration with the official platform (Ejar), has activated the electronic link for investment lease payments. This initiative is part of the Secretariat’s digital efforts to enhance the quality of e-services and contribute to increasing the reliability and speed of municipal service delivery. The activation of the electronic link for investment lease payments aims to facilitate and expedite the process of paying and collecting rent, improve government services, and develop the region’s digital infrastructure, … Read more

Singapore property sales rise to 4-month high

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Singapore

Reading time: < 1 MinuteOfficial data revealed that private property sales in Singapore rose last month to their highest level since last July, following the announcement of a series of new residential projects. The Urban Redevelopment Authority of Singapore reported that sales of new residential units rose nearly fourfold to 784 units last November, compared to 203 units the previous month. … Read more

Borrowing costs for UK residential properties fall below 6%

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Rental housing prices

Reading time: < 1 Minute A key measure of borrowing costs for residential property in the UK fell below 1.6% for the first time since last June, offering a glimmer of hope that the country’s worst mortgage crisis is coming to an end. Fixed-rate mortgages with a two-year average term fell to 1.599%, driven by a double freeze on interest rates by the Bank of England, according to … Read more

“Digital Government Forum” Discusses the Importance of Artificial Intelligence as a Technology of the Future

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Digital Government Forum - Artificial Intelligence

Reading time: 2 MinutesUnder the slogan “Our Future Is Now,” the “Digital Government Forum“ launched the first new suite of digital products and services for government agencies, with the attendance and participation of a number of government agencies, as well as several ministers, as well as a select group of experts, specialists, and decision-makers in the field of digital government at both the local and international levels. The forum focused on artificial intelligence technologies, discussing and analyzing their role in the future. Artificial Intelligence and the Future … Read more

1.339 billion riyals worth of SME operating revenues

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Monsha'at - Small and Medium Enterprises

Reading time: < 1 MinuteThe General Authority for Statistics announced that operating revenues for the small and medium-sized enterprise (SME) sector rose by 5.8 percent in 2022, reaching 1.339 billion riyals compared to 1.265 billion riyals in 2021, an increase of 74 billion riyals. According to the Authority, operating expenses for small and medium-sized enterprises reached 687.8 billion riyals in 2022, compared to 659.4 billion riyals in 2021, an increase of … Read more

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