Month: July 2024

Qassim governor discusses the mechanism of the real estate registry with the CEO of the General Authority for Real Estate

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Reading time: < 1 MinuteThe Secretary of Qassim, Eng. Mohammed bin Mubarak Al-Majali, recently discussed with the CEO of the General Authority for Real Estate, Eng. Abdullah bin Al-Hammad, and the CEO of the General Authority for Real Estate Regulation in Qatar, Eng. Khalid Al-Obaidli. The tasks and work mechanism of the real estate registry, the stages of development of the work in the Authority and the role of the Secretariat in the development and discuss ways of integration and cooperation between the two sides. He explained ... Read more

Start receiving applications for pilgrim housing permits for the 1446 Hajj season

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Medina

Reading time: < 1 MinuteThe Pilgrims Housing Committee in Medina has announced the start of receiving applications for pilgrims' housing permits for the 1446 Hajj season, starting from 1446/1/1H. The committee called on the owners and investors of pilgrim housing wishing to obtain licenses to review them and verify the fulfillment of the required requirements to ensure that the procedures for issuing the permit are completed during the application period, which will last until the end of next Rajab.

What are the requirements for a foreign property owner to obtain premium residency?

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Private Sector - Saudi Economy - Construction Contracts in Saudi Arabia

Reading time: 2 MinutesThe official website of the Privileged Residency Center clarified the eligibility criteria for a property owner to obtain privileged residency, which consists of owning or utilizing real estate assets worth at least 4 million Saudi riyals, and that the property should not be mortgaged or mortgaged afterwards, and that the ownership or utilization of the property did not come through real estate financing. It is also required ... Read more

New record... 233 billion dirhams of real estate sales in Dubai in the first half of 2024

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Dubai - Real Estate Deals and Sales 

Reading time: < 1 MinuteDubai's real estate market continued its exceptional run, setting new records never before seen in the emirate, according to a report by W Capital, a leading real estate brokerage firm. Real estate transactions and sales set three new records during the first half of 2024, including: The highest ever half-year sales at AED 233 billion. Best ... Read more

Infographic: Learn about the sessions of the Real Estate Media Forum and its participants

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Reading time: < 1 MinuteOn Sunday, July 7, the General Authority for Real Estate will launch the first Real Estate Media Forum to discuss the impact of the media on the development and formation of the real estate market and the future of the relationship between the two sectors, with the participation of experts in the media and real estate fields. The Real Estate Media Forum, which will be held at the Riyadh International Convention and Exhibition Center, will bring together an elite group of media and real estate specialists to discuss the integration ... Read more

Today. General Authority of Real Estate launches the Real Estate Media Forum

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Reading time: < 1 MinuteOn Sunday, July 7, the General Authority for Real Estate will launch the first Real Estate Media Forum to discuss the impact of the media on the development and formation of the real estate market and the future of the relationship between the two sectors, with the participation of experts in the media and real estate fields. The Real Estate Media Forum, which will be held at the Riyadh International Convention and Exhibition Center, will bring together an elite group of specialists in ... Read more

Residential financing for individuals in Saudi Arabia records SAR 36.28 billion and 48.92 thousand contracts in 5 months

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Reading time: 2 MinutesDuring the first five months of 2024, housing finance for individuals in the Kingdom of Saudi Arabia witnessed a remarkable rise, reaching SAR 36.28 billion, an increase of 3.86% over the similar period last year. This increase in the volume of housing finance reflects the growing activity of the real estate sector and the increasing demand of citizens to buy homes with the support of government initiatives that support ... Read more

Requirements for setting up concrete batching units in construction projects in Saudi Arabia

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Reading time: < 1 MinuteThe Ministry of Municipal and Rural Affairs and Housing has clarified the requirements for establishing a concrete mixing unit within construction projects, with the aim of organizing and controlling this process, protecting the environment, and enhancing traffic safety. According to the ministry, the requirements include obtaining the approval of the secretariat or municipality, the General Directorate of Civil Defense, the Ministry of Industry and Mineral Resources. And the National Center for Environmental Compliance Control. In addition, the resulting concrete must comply with ... Read more

For real estate enthusiasts... When is the right time to buy real estate?

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Real Estate Registration - Land Registry

Reading time: 2 MinutesZara founder Amancio Ortega is using the downturn in the commercial real estate market as an opportunity to buy assets on the cheap and expand his real estate portfolio. Pontigadia, Ortega's personal investment group with more than EUR 90 bn in capital, is expanding its real estate holdings through a “buy low” strategy, according to the Financial Times. 10 acquisitions of ... Read more

Real estate investments account for 18.7% of total assets of the Kingdom's public investment funds

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Saudi Arabia Foreign Investment

Reading time: < 1 MinuteReal estate investments accounted for 18.7% of the total assets of public investment funds in Saudi Arabia by the end of the first quarter of 2024, worth 25.62 billion riyals, followed by other local assets with a total of 14.1 billion riyals, then foreign monetary instruments worth 14.06 billion riyals. Saudi Arabia's public investment funds continued their strong growth trajectory, achieving a significant milestone in the form of an increase in their assets ... Read more

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