Reading time: < 1 MinuteFaisal Dorani, Partner and Head of Research for the Middle East and North Africa at Knight Frank, revealed that the number of real estate transactions in Saudi Arabia fell by 16% year-over-year in 2023. Dorani attributed this decline to rising home prices, with apartment prices in Riyadh increasing by 60% over the past three years, and by … Read more
Reading time: < 1 MinuteLast February, the Jazan Regional Secretariat, represented by the Abu Arish Municipality, conducted 94 construction inspection tours within the province’s residential neighborhoods and affiliated villages, to identify construction violations and ensure compliance with municipal regulations, as part of its efforts to monitor buildings and structures, reduce construction violations, and improve the quality of projects. The Mayor of Abu Arish Governorate, Engineer … Read more
Reading time: 2 MinutesThe General Real Estate Authority is participating in the MIPIM international real estate exhibition in Cannes, France, from March 12 to 15, where it will showcase real estate legislation and leading regulatory practices in the real estate sector at its booth. The Authority’s official spokesperson, Taysir Al-Mufarraj, emphasized that the Authority’s participation stems from its role in highlighting the sector … Read more
Reading time: < 1 MinuteStandard & Poor’s has forecast continued strong demand in Saudi Arabia’s real estate sector, supported by investments under the Kingdom’s Vision 2030, which are expected to attract new companies and expatriates. The agency explained that the expected decline in interest rates starting in the second half of this year will help revive demand for mortgages following the decline … Read more
Reading time: < 1 MinuteData released by the Saudi Central Bank (SAMA) showed that the value of new residential mortgage financing rose by approximately 1.3 billion riyals, or 21.1%, in January compared to December 2023. The data also revealed a decline in the volume of new residential mortgage financing provided to individuals by banks to 7.54 billion riyals in January 2024, a decrease of 10% compared to … Read more
Reading time: 2 MinutesLeap24 concludes, securing the future of technology with billion-dollar investments
Reading time: < 1 MinuteThe Ministry of Justice, in partnership with the Saudi Contractors Authority, launched the new version of the model contracts, which have now become enforceable instruments, in the presence of the Ministry’s Undersecretary for Judicial Affairs, Sheikh Salman Al-Fawzan, and the Authority’s Secretary-General, Abdulmajeed Al-Rashoudi. Regulation of the Construction Sector Model contracts are one of the most important tools for regulating the construction sector by governing the contractual relationship between parties in small and medium-sized projects, and to preserve … Read more
Reading time: < 1 MinuteThe Ministry of Industry and Mineral Resources issued 38,347 “Certificates of Origin” in February 2024, as part of its efforts to support and streamline services for exporters across various sectors, including industrial, commercial, and individual sectors. A certificate of origin is a document certifying that products exported abroad are of domestic origin or have acquired domestic origin status. The service is intended for industrial establishments, … Read more
Reading time: 2 MinutesThe Real Estate Index revealed that data from the “Real Estate Exchange” showed transactions across the Kingdom totaling approximately 60.8 billion riyals for 58,700 deals during the month of February. The data showed that the total area of real estate traded through the Real Estate Exchange across the Kingdom last month reached approximately 288.9 million square meters, while the number of properties traded reached 56,400… Read more
Reading time: < 1 MinuteHis Excellency Majid bin Abdullah Al-Hogail, Minister of Municipal, Rural Affairs, and Housing, inaugurated yesterday evening the sales center and model village in Al-Fursan, the largest urban suburb developed by the National Housing Company in the Riyadh region, in the presence of Abdulrahman Al-Tawil, Deputy Minister of Municipal, Rural Affairs, and Housing for Real Estate Development, and Mohammed bin Saleh Al-Bati, CEO of the National Housing Company. The sales center includes showrooms for a number of … Read more
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