Month: March 2024

Statistics on the size of the real estate sector in Saudi Arabia in 2023

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Private Sector - Saudi Economy - Construction Contracts in Saudi Arabia

Reading time: < 1 MinuteThe Saudi real estate sector witnessed a significant recovery and growth in terms of the volume of investments and its contribution to non-oil GDP during the past year. In a report, Al-Ekhbariya revealed the most prominent figures recorded by the Saudi real estate sector in the Kingdom, which were as follows: -12.2 % contribution of real estate activities to non-oil GDP until the third quarter: -12.2 % The contribution of real estate activities to non-oil GDP until the third quarter of 2023 -1.1 ... Read more

Real Estate Articles May Allah reward you in your real estate

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Abdulrahman Al-Qout - Real Estate Sales - Multiple Options - Selling Residential Units

Reading time: 2 MinutesReal Estate Articles This article is addressed to the owners of real estate assets who do not believe in preventive maintenance or even consider facilities management to exist in the first place. I would like to console them in their real estate and give them advice that facilities management has a vital role in enhancing the value and sustainability of real estate assets and also has a role ... Read more

“ROSHN boosts the capabilities of its new app by partnering with Singapore's Boxo

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Roshan after signing the agreement

Reading time: < 1 MinuteROSHN Group, a leading national real estate developer and wholly-owned subsidiary of the Public Investment Fund (PIF), has announced the signing of an agreement with Boxo, a leading Singapore-based technology company. The partnership aims to significantly enhance the capabilities of ROSHN's app by leveraging Boxo's proprietary platforms. The two parties signed the agreement at a ceremony ... Read more

Details... The Minister of Finance Approves the Executive Regulations for Zakat Collection, 1445 A.H.

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Minister of Finance Mohammed Al-Jadaan - Real Estate Transaction Tax Executive Regulations

Reading time: 2 MinutesHis Excellency the Minister of Finance Mohammed Al-Jadaan issued a decision approving the Executive Regulation for Zakat Collection (1445 AH), which clarifies all treatments related to Zakat collection, facilitates collection procedures in all business sectors, and contributes to raising the level of voluntary compliance among taxpayers. The Executive Regulations of Zakat Collection The new Executive Regulations came with 128 articles, which helps in providing clarifications ... Read more

NEOM announces Trium, a new destination for adventure and nature enthusiasts on the Gulf of Aqaba

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Trium destination

Reading time: < 1 MinuteThe NEOM Board of Directors has announced Triyam, a tourism destination in a unique location where the desert meets one of the most beautiful turquoise lakes at the southern end of the Gulf of Aqaba. The destination is characterized by its innovative design in the form of a bridge that connects the two parts of the lake, as well as its commitment to the highest standards of nature conservation. The new destination is home to a 250-resort resort. Read more

Eastern Municipality issues 44 building compliance certificates in Dhahran

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Eastern Province Municipality - Residential Plans

Reading time: < 1 MinuteThe Eastern Province Municipality issued 44 building compliance certificates for a number of towers, banks, and commercial educational and health buildings in Dhahran. The Municipality explained that the Building Compliance Certificate aims to ensure the commitment of commercial building owners to ensure that their buildings are free of visual distortion elements to provide a healthy and sustainable urban environment and upgrade the urban landscape in the city to improve the quality of life. Building Compliance Certificate Procedures Manual ... Read more

Photos | Residential Field Exhibition Launches in Riyadh's Roshan Oasis

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Residential Field Exhibition

Reading time: < 1 MinuteThe Sakany program launched its field exhibition at the Roshan facade in Riyadh, which aims to provide Saudi families with the opportunity to learn about the housing solutions provided by the program within the off-plan sales projects (residential units under construction), in partnership with the National Housing Company and a number of real estate developers and financing entities. The exhibition allows visitors to learn about the real estate consultant service, which ... Read more

For new beneficiaries. Steps to register on the platform to get support and how to inquire

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Residential program

Reading time: 2 MinutesThe Housing Subsidy Program provides support from the Ministry of Municipal and Rural Affairs and Housing, where it helps citizens at the level of providing new housing units at new prices, renovating existing properties to live in them or even re-furnishing their housing units with new furniture, and other housing subsidy options. It also aims to provide decent and humane housing for citizens, and its value reaches up to 100 thousand Saudi riyals in the form of ... Read more

Riyadh Chamber discusses the role of real estate contributions and off-plan sales in developing the real estate sector

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Reading time: < 1 MinuteThe real estate development meeting “Real Estate Contributions - Off-plan Selling” kicked off this evening at the Riyadh Chamber, in the VIP hall of the Riyadh International Convention and Exhibition Center. Abdullah bin Saud Al-Duhaim, Supervisor of the Real Estate Development Sector at the General Real Estate Authority, and Nayef bin Nawaf Al-Sharif, Secretary General of the Wafi Off-plan Sale and Leasing Committee, will participate in the meeting as speakers. Read more

When is the escrow account in real estate contributions closed?

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Reading time: < 1 MinuteThe General Authority for Real Estate has clarified the fate of the escrow account in real estate contributions for licensees after the expiration of the real estate contribution. The Authority said in a tweet published on its account on the social networking site “X”, that the escrow account is not closed by the licensee after the expiration of the real estate contribution and the return of funds to the beneficiaries only after the approval of the General Real Estate Authority. The General Authority for Real Estate had published ... Read more

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