Month: April 2024

worth 4.61 billion riyals. Villas accounted for the largest share of residential financing in February

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Home Finance - Real Estate Loans - Residential Projects - Residential

Reading time: < 1 Minute  Data from the Saudi Central Bank revealed that villas accounted for the largest share of new housing financing provided to individuals last February, totaling 4.61 billion riyals, compared to 2.09 billion riyals for apartment purchases, compared to 503 million riyals in financing for land purchases during February. SAMA data showed that the value of new housing financing provided … Read more

7.21 billion riyals worth of new housing finance in February

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Saudi Central Bank

Reading time: < 1 MinuteData released by the Saudi Central Bank (SAMA) showed that the value of new housing financing provided to individuals in the Kingdom by banks and finance companies declined in February, reaching 7.21 billion riyals in February 2024; compared to 7.42 billion riyals in the same month of 2023. This represents a decrease of 213 million riyals, or 2.9%, from the same period in 2023. And … Read more

Infographic: 118 new industrial licenses issued in February

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Ministry of Industry logo

Reading time: 2 MinutesThe Ministry of Industry and Mineral Resources issued 118 new industrial licenses in February 2024, distributed across five industrial sectors, led by the food manufacturing sector with 23 licenses, followed by the manufacture of fabricated metal products (excluding machinery and equipment) with 18 licenses, then other non-metallic mineral products with 13 licenses, followed by the manufacture of chemicals and chemical products with 11 licenses, followed by the activity … Read more

Prince Mohammed bin Fahd's Affordable Housing Project provides new housing for needy families

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Prince Mohammed bin Fahd Affordable Housing Project

Reading time: < 1 MinuteLast year, 2023, the Prince Mohammed bin Fahd Affordable Housing Project delivered twenty housing units to needy families in the Eastern Province. Saleh Al-Shamrani, Director of Program Management at the Foundation, explained that the handover of the units follows an assessment of the families’ circumstances based on precise criteria, specific mechanisms, and implementation plans for a number of development and humanitarian programs and projects designed to serve various segments of society, noting … Read more

Video: Fines await those who fail to register their properties in the Land Registry

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Spokesperson for the General Real Estate Authority - Penalty for providing real estate informationTaysir Al-Mafraj

Reading time: < 1 MinuteTaysir Al-Mufarraj, the official spokesperson for the General Real Estate Authority, urged citizens to recognize the importance and necessity of registering their properties within the specified registration period. In a video circulating on the social media platform “X,” Al-Mufarraj said: “There is a specific registration period, and if it is exceeded, registration will still be accepted afterward but with a fine,” emphasizing the importance of the real estate registry. The spokesperson for the General Real Estate Authority… Read more

In detail... “Municipality and Housing” issues a guide to the requirements for the disposal of construction, demolition and renovation waste

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Removing rubble and construction and demolition debris

Reading time: < 1 MinuteThe Ministry of Municipal, Rural, and Housing Affairs has issued a guide titled “Requirements for the Disposal of Construction, Demolition, and Renovation Waste” as part of its efforts to reduce visual pollution, regulate and organize the management of construction, demolition, and renovation waste, and establish mechanisms for its systematic disposal in accordance with unified standards. The Ministry emphasized the importance of complying with the guidelines set forth in the manual in order to improve the urban landscape, preserve property, and limit encroachment on … Read more

Al-Haqeel chairs the extraordinary meeting of the Executive Office of the Council of Arab Ministers of Housing and Construction

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Al-Haqeel

Reading time: 2 MinutesHis Excellency Majid bin Abdullah Al-Hogail, Minister of Municipal, Rural Affairs, and Housing, chaired the extraordinary meeting—held via video conference—of the Executive Office of the Council of Arab Ministers of Housing and Reconstruction, to select the members of the jury for the Council’s award, which aims to stimulate competition among architects, engineers, entities involved in housing affairs, and research and study centers to develop initiatives and ideas to serve the construction and building sector in … Read more

“National Housing announces the sale of more than 98% units of the Tabuk Valley project

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National Housing's Tabuk Valley Project

Reading time: < 1 MinuteThe National Housing Company (NHC) announced that the sales rate for the Tabuk Valley community —one of its projects in the Tabuk region—has reached 98%. The community features modern housing concepts and a contemporary lifestyle with world-class amenities designed to the highest standards of luxury, in a model and sustainable manner. The company explained that the high sales rate for the project resulted from making it available to all eligible beneficiaries, reflecting its capabilities … Read more

Video | Important Tips for Choosing the Right Land for Building a Property

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Real estate expert Mutair Al-Shammari - Land Selection

Reading time: < 1 MinuteReal estate expert Matar Al-Shammari offered a number of tips on choosing the right plot of land to purchase and determining whether or not it is suitable for building a home. During his interview with “UFM” Radio, Al-Shammari said, that before proceeding with the purchase of land for your future home, you must take several factors into consideration, including: the need to carefully select the right location for the land you intend to buy, and to pay attention to the neighborhood’s entry and exit points … Read more

How to avoid fraud in real estate transactions Public Authority for Real Estate answers

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Evidence Law - Real Estate Transactions - Companies Law

Reading time: < 1 MinuteTaysir Al-Mufarraj, the official spokesperson for the General Real Estate Authority, outlined a number of important tips to keep in mind to avoid fraud in real estate transactions in a podcast posted on the Authority’s account on the “X” platform. Al-Mufarraj offered several important tips to help those looking to buy or rent a property avoid becoming victims of real estate fraud by following the advice below: … Read more

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