Month: March 2024

State real estate supports more than 40 government entities with plant seedlings as part of the Saudi Green Initiative

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State real estate distributes seedlings

Reading time: < 1 MinuteIn observance of Saudi Green Initiative Day, which falls on March 27 each year, the General Authority for State Real Estate provided the Ministry of Environment, Water, and Agriculture and the Association of Neighborhood Centers in the Makkah Region with plant seedlings produced by the Authority’s agricultural nursery through its branch in the Holy City. This initiative is part of the Authority’s efforts to support sustainable development … Read more

SAR 13 billion in foreign direct investment in the Kingdom during the fourth quarter of 2023

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Saudi Arabia Foreign Investment

Reading time: < 1 MinuteNet foreign direct investment inflows into the Kingdom during the fourth quarter of 2023 reached 13 billion Saudi riyals, representing an increase of more than 16 % compared to the third quarter of the same year, according to the General Authority for Statistics’ Foreign Direct Investment Bulletin for the fourth quarter of 2023. The bulletin’s findings showed that the value of foreign direct investment inflows … Read more

Makkah Portal: “National Housing Authority” Announces First Urban Suburb in the Holy Capital

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National Housing Company

Reading time: < 1 MinuteThe National Housing Company (NHC) announced the “Bawabat Makkah” suburb, the first urban suburb in the Holy Capital, which follows the launch of numerous previous suburbs and urban communities in the Makkah region, with the aim of increasing the real estate supply in the region in line with the objectives of the Housing Program and the Kingdom’s Vision 2030. The “Bawabat Makkah” Suburb is the first residential destination that … Read more

Infographic: Ministry of Industry issues 25 new mining licenses in January

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Mining

Reading time: < 1 MinuteThe Ministry of Industry and Mineral Resources issued 25 new mining licenses in January 2024, including 10 building materials quarry licenses, 7 exploration licenses, 5 small-scale mining and exploitation licenses, and 3 exploration licenses, according to a report by the ministry’s National Center for Industrial and Mining Information. The report indicated that the total number of valid mining licenses in the sector as of the end of January … Read more

Real estate expert Matar Al-Shammari explains the main reasons for the rise in residential rental prices

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Matar Al-Shammari, Old Buildings - Real Estate Marketing

Reading time: < 1 MinuteReal estate expert Matar Al-Shammari explained the main reasons behind the rise in residential rental prices in the Kingdom of Saudi Arabia in recent times. Al-Shammari said in an interview on Al-Ikhbariya TV that the decline in demand for mortgage financing is one of the main reasons behind the rise in residential rental prices in the Kingdom. He added that the current challenge facing individuals is the rise in … Read more

6 Steps to Own Real Estate through Ehkam

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Real estate applications

Reading time: < 1 MinuteThe Ihkam Platform serves as the General Secretariat of the Committees for Reviewing Real Estate Ownership Applications (Ihkam), which is responsible for regulatory, administrative, technical, and support functions to assist the committees in carrying out their duties. The Ihkam platform also seeks to promote the principles of fairness, transparency, and reliability in real estate ownership and to provide a trustworthy real estate environment through streamlined procedures for real estate ownership… Read more

“Municipality and Housing aims to plant more than 1.3 million trees in residential suburbs

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Ministry of Municipalities and Housing - Group Housing Requirements

Reading time: 2 MinutesResidential suburbs scattered across a number of cities and regions in the Kingdom are home to tens of thousands of native trees, as part of the Ministry of Municipal, Rural Affairs, and Housing’s ongoing efforts to achieve the goals of the “Green Saudi” initiative. As part of the first phase of its plan, the Ministry has planted more than 350,000 trees in these projects, with the aim of increasing vegetation cover in residential suburbs and improving the quality of life there. … Read more

Residential land prices in Riyadh's Badr neighborhood rise during the fourth quarter of 2023

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Territory

Reading time: < 1 MinuteAl-Ikhbariya TV revealed in a report that residential land prices rose significantly in the Badr neighborhood of Riyadh during the fourth quarter of 2023, according to real estate indicators. The real estate indicators cited in Al-Ikhbariya TV’s report confirmed that the average price per square meter rose by more than 14 %, attributing this increase to the Badr neighborhood’s strategic location and the availability of services … Read more

Al-Nizam neighborhood in Riyadh is the most active neighborhood in terms of real estate transactions... 71 deals worth 29 million riyals

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Riyadh - Saudi Real Estate Market

Reading time: < 1 MinuteThe Al-Nizam neighborhood in Riyadh recorded the highest number of real estate transactions in Riyadh and Mecca, with 71 transactions totaling 29 million riyals. According to a report by Al-Ikhbariya TV, the total number of real estate transactions reached 1,100, with a total value of 1.4 billion riyals, and the total area traded was 2.2 million square meters. The report noted that the number of transactions reached 360, with a value of 438 million … Read more

General Real Estate Authority removes 8067 real estate advertisements to verify compliance with the system

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Reading time: < 1 MinuteLast February, the General Real Estate Authority, in collaboration with the Ministry of Interior and the Ministry of Human Resources and Social Development, conducted 31 inspection tours targeting 8,354 real estate establishments, including: the Riyadh, Eastern, and Makkah regions, with the aim of ensuring compliance with real estate legislation in general and the real estate brokerage system in particular. The General Real Estate Authority explained that the fieldwork … Read more

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