Insights into the Off-Plan Sales and Leasing System
Reading time: 2 MinutesOff-Plan Sales and Leasing Program
Month: January 2024
ROSHN targets 60% to increase local content in the construction sector
Reading time: < 1 MinuteRoshen Real Estate Group aims to increase its reliance on the local market in Saudi Arabia for construction to 60%, according to an announcement by its CEO, David Grover. Grover said that all developers are working to secure raw materials such as cement, aluminum, and steel from within or outside the Kingdom, noting that it is currently not possible to rely on imports for many materials, especially … Read more
Residential: More than 100,000 families will benefit from the program in 2023
Reading time: < 1 MinuteThe Sakani Program announced that 101,230 Saudi families benefited from the program in 2023, while the number of Saudi families who moved into their first home last year reached 98,475, as part of ongoing efforts to provide a range of housing products and diverse financing solutions that contribute to achieving the goals of the housing program —one of the programs under the Kingdom’s Vision 2030—by increasing the homeownership rate… Read more
Roshan and Bartana team up to create a carbon-negative concrete facility
Reading time: 3 Minutes Roshon Group, a leading real estate developer in Saudi Arabia, has partnered with Partana Arabia, a Riyadh-based company specializing in climate technologies, to collaborate on the upcoming construction of a state-of-the-art negative-carbon concrete facility. The facility is initially planned to deliver negative-carbon flooring, with the capacity to produce solutions … Read more
National Housing: More than 19,000 housing units sold in Khuzam Suburb“
Reading time: 2 Minutes“Khuzam Suburb,” one of the largest urban developments being built by the National Housing Company and located north of Riyadh, witnessed high demand for its residential units, with sales exceeding approximately 95% of the total residential units offered, valued at over 15 billion riyals. More than 19,000 residential units were sold, and official figures revealed that … Read more
Real estate articles: Real estate finance terminology
Reading time: < 1 MinuteReal Estate Articles: Mortgage Terminology by Matar Al-Shammari Interest Rate: The amount paid as a cost on the mortgage loan amount. Fixed Interest Rate: An amount paid as a cost on the loan amount at a fixed annual interest rate. Compound interest: An amount paid as a cost on the loan amount at an increasing annual interest rate, which the customer pays on both the principal and the accrued interest. Administrative fees: Amounts charged by … Read more
Real estate owner's residency increases real estate opportunities
Reading time: < 1 MinuteSpecial Residency for Property Owners Expands Real Estate Opportunities Dr. Mouns Shujaa The Special Residency Center recently announced the launch of five new categories of special residency in Saudi Arabia, including special residency for property owners in the Kingdom. Under this program, property owners can obtain special residency through ownership or use of real estate assets, provided that their value exceeds four million riyals … Read more
Certified real estate attorney
Reading time: 2 MinutesReal Estate Articles... Certified Real Estate Attorney Abdulaziz Al-Issa Warns... “I Do Not Trust.” Under this title, I wrote an article in this column five years ago, warning against misplaced trust that leads to the loss of rights and their manipulation as a result of weak religious scruples or indifference. The warning was not based on a prediction of future events or legislation enacted by the competent authorities, but rather on actual experiences… Read more
Starting today. Paying residential leases electronically
Reading time: < 1 MinuteStarting today, Monday, January 15, residential rent payments will be accepted exclusively through digital channels, and payments made outside the Ejar platform will not be accepted, according to an earlier announcement by the General Real Estate Authority. Taysir Al-Mufarraj, a spokesperson for the General Real Estate Authority, said that the decision applies only to «residential rental contracts,» clarifying that commercial contracts are not covered by this decision, and noting that the contracts … Read more
Zakat proposal would allow real estate developers to recover VAT retroactively
Reading time: < 1 MinuteThe Zakat, Tax, and Customs Authority has posted a proposal on a public consultation platform outlining additional scenarios under which eligible real estate developers may claim a value-added tax (VAT) refund, seeking public feedback by February 8 at the latest. The proposal includes allowing all real estate developers eligible for refunds who have deducted the VAT incurred on their purchases of goods or services related to real estate supplies eligible for refunds … Read more
