Month: June 2024

40% of the pilgrims' budget... Hajj season revitalizes the residential sector in Makkah and Madinah

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Residential Sector Hajj Season

Reading time: 2 MinutesThe housing sector is one of the most vital sectors upon which the operations of agencies serving pilgrims and visitors rely to ensure the success of the Hajj season and the comfort of pilgrims and visitors. Spending on housing is the highest, and according to a study by Umm al-Qura University, the greatest impact of the Hajj is felt in the real estate sector, especially since some studies indicate that spending on the housing sector accounts for … Read more

What does a real estate agent do if the owner refuses to pay the commission?

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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, said that the real estate brokerage system protects the broker’s rights in cases where the owner refuses to pay the agreed-upon commission. He added that the real estate broker has the right to file a claim with the competent court, which will adjudicate the matter and ensure that each party receives their due. This statement came in response to an inquiry from a citizen… Read more

Infographic: Requirements for registering a legal person in the off-plan sales system

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Residential Sector - Real Estate Licensing

Reading time: 2 MinutesThe General Real Estate Authority has announced the requirements for registering a legal entity in the Real Estate Developers Registry within the system for the sale and lease of off-plan real estate projects. It clarified that these requirements include the following: institutional capabilities, human resources, and organizational structure. Work regulations. Occupational safety and health regulations. Scope of operations in Saudi Arabia. Social security certificates and a list of active employees. Completion of the approved qualification program … Read more

265 billion dollars market size of modern building technologies by 2027

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Reading time: 2 MinutesThe modern construction technology market has seen remarkable growth in recent years, driven by technological advancements and continuous innovations aimed at improving efficiency and quality in the construction sector. These technologies range from 3D printing, robotics, smart materials, virtual and augmented reality, artificial intelligence, and sustainable energy. In this article, we will examine the size of this market in numbers and the impact of these technologies on the construction industry … Read more

Investment opportunity to establish, operate and maintain a conference and exhibition center in Jizan

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Reading time: < 1 MinuteThe Jazan Regional Secretariat has announced an investment opportunity to build, operate, and maintain a conference, exhibition, and event center in the King Abdullah District of Jizan, covering an area of 103,953 square meters, under a 25-year contract. The Secretariat invited those interested in competing for the investment opportunity to view further details via the municipal investment app “Fursat” or by visiting the link: https://furas.momra.gov.sa … Read more

The construction sector in Madinah records a rise in its performance index during the first quarter of 2024

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Building license via Baladi platform

Reading time: < 1 MinuteThe construction sector in Madinah recorded growth and an improvement in performance indicators, as well as an increase in the number of activities during the first quarter of 2024, compared to the same period last year. The economic report for the Madinah region for the first quarter of 2024, issued by the Madinah Chamber of Commerce, indicated that the construction sector—which encompasses all activities related to construction, renovation, extension, installation, finishing, and other works… Read more

“ROSHN empowers SMEs with the Kingdom's first bootcamp

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Roshan Real Estate Company - Residential Projects

Reading time: 2 MinutesRoshon Group—a wholly owned subsidiary of the Public Investment Fund— its first training camp aimed at empowering contractors, subcontractors, and project managers from small and medium-sized enterprises by providing them with valuable opportunities to develop their capabilities in the construction sector. The event, which saw the participation of numerous local companies, highlighted Roshen’s approach to increasing the number of local contractors … Read more

6 neighborhoods in Madinah to benefit from real estate registration starting 24 Dhu al-Hijjah

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Reading time: < 1 MinuteThe General Real Estate Authority announced the start of real estate registration for (4,774 parcels) in six neighborhoods in Madinah, beginning on June 30, 2024, corresponding to 24 Dhu al-Hijjah 1445 AH, through October 3, 2024, corresponding to 30 Rabi’ al-Awwal 1446 AH. Neighborhoods Benefiting from the Real Estate Registry The Authority clarified that the neighborhoods benefiting from the real estate registry at this stage include the neighborhoods … Read more

“Red Sea International announces Turtle Bay Hospital in its destination

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Red Sea International announces Turtle Bay Hospital

Reading time: 2 MinutesRed Sea International has announced plans to build the “Turtle Bay“ hospital, which will provide world-class healthcare to residents and workers at the 1.5-million-square-meter waterfront development. The Red Sea destination is expected to welcome approximately 300,000 visitors annually upon completion of the first phase of the resorts next year, in addition to … Read more

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