Month: March 2024

20.8 % Growth in real estate financing provided by banks to individuals in January

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Saudi Central Bank

Reading time: < 1 MinuteThe latest data from the Saudi Central Bank (SAMA) revealed that the volume of new housing financing provided by banks to individuals reached 7.53 billion riyals last January, representing a growth rate of 20.8% compared to the seventh month of “December 2023,” when the volume of financing stood at 6.23 billion riyals. According to the monthly bulletin issued by the Saudi Central Bank for January, villas accounted for … Read more

The Real Estate Authority is seeking feedback on the schedule of violations and penalties for the Real Estate Contribution System

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Reading time: < 1 MinuteThe General Real Estate Authority has posted on the Isti'laal platform a table classifying violations and penalties under the Real Estate Contributions System and its implementing regulations, to solicit public feedback by March 14, 2024, at the latest. By publishing the table, the General Real Estate Authority aims to enhance compliance with the Real Estate Contributions System and its implementing regulations. According to what the Isti'la platform published on its website, the draft includes 26 violations, and … Read more

Jeddah Municipality monitored 3,476 building violations in February

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Jeddah Municipality - Unauthorized Buildings

Reading time: < 1 MinuteThe Jeddah Governorate Secretariat’s enforcement efforts to address building violations during February 2024 resulted in the detection of 3,476 violations in a number of neighborhoods, as part of its mission to enhance services, address visual pollution, and improve the city’s urban landscape. The Secretariat explained that the enforcement efforts carried out by the sub-municipalities last month are part of an intensive support plan to improve … Read more

The General Real Estate Authority to Showcase Real Estate Technology Capabilities at the LEAP 2024 Conference

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Public Authority for Real Estate - Off-plan Selling

Reading time: < 1 MinuteThe General Real Estate Authority is participating as a Diamond Sponsor in the third edition of the international technical conference “LEEP 2024,” which is being held from March 4 to 7, at the Riyadh Exhibition and Convention Center in Malham. The aim is to raise the level of knowledge in the field of real estate technology in the Saudi market, promote investment, and network with practitioners and stakeholders in the sector. During its participation, the Authority will showcase … Read more

“LEAP 2024” conference discusses the role of the fourth industrial revolution and modern technologies to diversify the economy

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LEAP 2024

Reading time: 2 MinutesA number of Their Excellencies the Ministers participated in the sessions of the “LEAP 2024” conference, sharing their perspectives on key issues related to the Fourth Industrial Revolution, including a commitment to harnessing this technology to diversify the economy and support emerging opportunities that reinforce the Kingdom’s position as a regional and international hub. Technological Advances of the Fourth Industrial Revolution During the panel discussion, they emphasized “addressing the economic consequences of … Read more

LEAP 2024... Announcing new launches and $11.9 billion in tech investments

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Leap Conference

Reading time: < 1 MinuteThe “LEAP 24” conference announced a series of tech launches and investments totaling $11.9 billion. The new launches aim to support the emerging and deep tech sectors, innovation, cloud computing, and the development of digital skills. It also aims to stimulate investment in tech startups, which in turn will help strengthen the Kingdom’s position as a hub for technology and innovation and as an attractive environment for tech companies… Read more

Saudi Arabia launches ambitious program to attract local and international investments in the tourism sector

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Minister of Tourism Ahmed Al-Khatib

Reading time: 2 MinutesHis Excellency the Minister of Tourism, Mr. Ahmed bin Aqil Al-Khatib, unveiled the “Mumkinat” Investment Program in the tourism sector, which aims to facilitate doing business and enhance the sector’s appeal to both local and international investors. Under the umbrella of this ambitious program, the Ministry of Tourism also announced the “Investment Opportunities in the Hospitality Sector” initiative, in collaboration with the Ministry of Investment, which aims to increase and diversify offerings … Read more

Municipal Affairs: New licensing regulations take into account urban development and activity

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Ministry of Municipalities and Housing - Group Housing Requirements

Reading time: < 1 MinuteThe Ministry of Municipal, Rural Affairs, and Housing affirmed that the new updates to the executive regulations of the Municipal Licensing Procedures System take into account urban and economic development and activity in the Kingdom of Saudi Arabia and are in line with the diverse needs of beneficiaries in the construction sector, in addition to meeting the expectations of investors and commercial entities. This was stated in a press release issued by the ministry on Sunday, following the approval by the Minister of Municipal, Rural, and Housing Affairs, Majid … Read more

“National Housing Authority” Showcases Its Cutting-Edge Technologies and Achievements at the “LEEP 2024” Conference”

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National Housing Company

Reading time: < 1 MinuteThe National Housing Company (NHC) is participating in the “LEAP 2024” global conference to showcase its pioneering role in technology in general and real estate services in particular, as well as the technological innovations it offers in the real estate sector, and to leverage modern technologies to streamline services and procedures for its beneficiaries.​ National Housing Company Prepares to Launch Several Modern Technological Services The National Housing Company is preparing to launch … Read more

Real estate bourse records SAR 60.8 billion worth of transactions in February

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Investors in real estate

Reading time: < 1 MinuteData and indicators from the “Real Estate Exchange” showed that real estate transactions recorded across the Kingdom totaled approximately 60.8 billion riyals for 58,700 transactions during the month of February. Meanwhile, the total area of properties traded through the Real Estate Exchange across the Kingdom last month reached approximately 288.9 million square meters, while the number of properties traded stood at approximately 56,400 … Read more

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