Month: March 2024

The Real Estate Fund clarifies the conditions for waiving the subsidized mortgage loan

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Real Estate Development Fund - Your Subsidy Equals Your Installment - Direct Lending

Reading time: < 1 MinuteThe Real Estate Development Fund has clarified a number of conditions that must be met in order for a person to waive the subsidized mortgage loan, and has also specified the steps that must be followed until the waiver request is transferred to the Applications Department for processing and consideration, after which the final approval of the subsidized mortgage loan waiver request is made. The conditions for waiving the subsidized mortgage loan must ... Read more

Sakan signs a tripartite agreement with the Ministry of Housing and the Martyrs Fund

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Sakan signs a tripartite agreement with the Ministry of Housing and the Martyrs Fund

Reading time: < 1 MinuteThe Community Development Housing Foundation (Sakan) signed a tripartite agreement with the Ministry of Municipal and Rural Affairs and Housing and the Martyrs, Injured, Prisoners and Missing Persons Fund, under the honor of His Excellency the Minister of Municipal and Rural Affairs and Housing, Mr. Majid Al-Hogail. The agreement is based on the principle of enhancing complementary cooperation and building effective partnerships that aim to empower the non-profit sector and the developmental housing sector in line with the Saudi Vision ... Read more

For the first time in 6 months Saudi Arabia's cement sales rose in January

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Reading time: 2 MinutesAl Jazeera Capital revealed that cement sales in the Kingdom rose in January to 4.48 million tons, an increase of 4.7% compared to the previous December of 2023, which recorded sales of 4.2% worth 4.28 million tons, recording the first annual increase since last July. The company also showed in its latest report that the total ... Read more

Full details of the Real Estate Contributions Regulation and Escrow Account Regulations

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Public Authority for Real Estate - Off-plan Selling

Reading time: 2 MinutesThe General Authority for Real Estate announced the issuance of the executive regulations of the Real Estate Contributions System and its publication on the official website of the Authority and the Umm Al-Qura newspaper today, Friday, the sixth of Sha'ban 1445H, corresponding to February 16, 2024 AD, in coordination with the Capital Market Authority, in accordance with the Real Estate Contributions System issued by the Council of Ministers, confirming the availability of applying for real estate contributions license through the Authority's e-services. ... Read more

Residential program reveals 3 conditions for the state to bear the real estate transaction tax

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Residential program

Reading time: < 1 MinuteThe Residential Program has revealed 3 conditions for the state to bear the real estate transaction tax, and what it does not bear. The program said in a tweet published on its account on the “X” website that the conditions are as follows: He or she must have an account in Absher. It must be the citizen's first home. The tax also includes the purchase of ready-made housing, units ... Read more

“Dragon Ball. Qiddiya launches the world's first theme park

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Qiddiya Launches Dragon Ball Park

Reading time: 2 MinutesYesterday, the Board of Directors of Qiddiya Investment Company (Qiddiya) announced the launch of Dragon Ball, an unprecedented theme park designed to embrace the “Power of Play” philosophy at Qiddiya, where visitors can experience the world of Dragon Ball. The unveiling of Dragon Ball comes just a few weeks after the announcement of three major assets at Qiddiya City. Read more

The Board of Directors of the Public Authority for Real Estate reviews real estate legislation at its 26th meeting

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Board of Directors Meeting

Reading time: < 1 MinuteThe Board of Directors of the Public Authority for Real Estate held its 26th meeting under the chairmanship of H.E. Mr. Majid bin Abdullah Al-Hogail, Minister of Municipal, Rural Affairs and Housing and Chairman of the Board of Directors of the Authority, in the presence of Engineer Abdullah Al-Hammad, CEO of the Authority, Board members representing government agencies, and representatives of the private sector. At the beginning of the meeting, the Board reviewed the decisions and directives issued by the Board, as well as the reports of the Board's committees ... Read more

Medina witnesses SAR 915 million worth of real estate deals in February

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Medina Municipality - Commercial Project

Reading time: < 1 MinuteThe indicators of the “Real Estate Exchange” showed that the number of real estate transactions witnessed by the Medina region during the month of February amounted to 1,632 transactions worth more than 914.8 million riyals. The indicators also revealed that the area traded for Medina real estate through the real estate exchange during the same month recorded about 1.8 million square meters, while the number of properties traded reached 1,535 properties. ... Read more

Public Authority for Real Estate clarifies 4 advantages of the Real Estate Registry

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Public Authority for Real Estate - Off-plan Selling

Reading time: < 1 MinuteIn a tweet published on its official account on social media, the General Authority for Real Estate explained the advantages of the real estate registry, stressing that it contributes to a qualitative leap in the real estate market. According to an infographic published by the authority, the advantages of the real estate registry include the following: - Accuracy and clarity of real estate unit data and information. - Stabilizing and facilitating real estate transactions procedures. - Attracting investors to sustain ... Read more

Tarmeem Association in Makkah launches housing track to provide units for needy families

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Mecca

Reading time: < 1 MinuteThe Trameem Society for Development in Makkah launched yesterday the housing track to provide units for needy families and those registered in social security; in the presence of Undersecretary of the Ministry of Municipal and Rural Affairs and Housing for the third sector and community participation, Talal bin Mohammed Al-Khunaini, and Chairman of the Board of Directors of the Society, Imad bin Abdul Qader Al-Muhaidib, in the presence of the Undersecretary of the Ministry. During the ceremony, the programs and services provided by the association were introduced ... Read more

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