Month: August 2024

“Ejar launches a service to request registration of a rental incident. What is it and how to use it?

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Residential Real Estate - Housing Subsidies

Reading time: 2 MinutesThe Ejar platform launched a service for requesting the registration of a lease agreement, noting that this service is intended to register a paper lease agreement on Ejar between two parties, one of whom—whether the landlord, the tenant, or one of their representatives—has declined to have the agreement notarized. This includes the following types of agreements: residential, commercial, agricultural, and industrial. The platform noted that registering a lease agreement does not constitute a notarized electronic contract … Read more

VIDEO Real estate specialist warns against closing shops due to high rents

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Reading time: < 1 MinuteReal estate expert Abdullah Al-Ajl warned of the negative impact of rising commercial rent prices on stores and their economic activities. In an interview with “Al-Saudiya” TV, Al-Ajl said, «The closure of stores due to rising rent prices is an unhealthy phenomenon that harms the country’s economy.» He added that «sustainability and retail stores are the engine of the economy,» noting that «rising rents negatively affect consumers through higher … Read more

Taif Gate Auction. An invitation to senior businessmen in Saudi Arabia and GCC countries

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Real Estate Logo One Auction Taif Gateway - Real Estate Opportunity

Reading time: 2 MinutesAqar One Public Auctions announces that all preparations have been completed for the launch of the in-person and online (hybrid) public auction to offer the “Taif Gate” development for sale. The auction will be held next Tuesday and Wednesday, August 27–28 August 2024 CE, corresponding to 23–24 February 1446 AH. The in-person auction will take place in the VIP Hall at the InterContinental Hotel in Taif, and the online auction will be held via the Saudi Auctions Platform at 4:00 p.m. The real estate market in Taif is eagerly awaiting the date… Read more

“Zakat clarifies the mechanism for refunding the real estate transaction bill

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Real Estate Registration - Real Estate Transactions

Reading time: < 1 MinuteThe Zakat, Tax, and Customs Authority clarified the procedure for refunding payments made toward real estate transaction fees in response to an inquiry received on its account. The Authority stated via its account on the social media platform “X” that if payment has been made but the transfer has not been completed and the decision to sell has been reversed, the seller can cancel the request through the Real Estate Transactions Portal by clicking the “View Transactions” icon… Read more

Economists: The updated investment system will bring about major shifts in the real estate sector

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Reading time: 3 MinutesSurvey: Abdullah Al-Salih: The updated investment law, which will take effect in early 2025, has attracted the attention of experts and investors for its comprehensiveness and its ability to close loopholes. Its provisions establish equality between domestic and foreign investors, which encourages an increase in both local and international investments, in addition to ensuring the right to litigation and dispute resolution. The real estate newspaper “Amlak” conducted a survey on the system, and the responses were … Read more

Eviction of properties expropriated for the Third Ring Road project in Makkah has begun

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Mecca

Reading time: < 1 MinuteThe Royal Commission for the City of Makkah and the Holy Sites announced the start of the eviction of properties expropriated for the Third Ring Road project today, Sunday, 21 Safar 1446 AH, corresponding to August 25, 2024 AD, in accordance with the attached plan, This is in accordance with Article 17 of the Law on Expropriation of Real Estate for Public Benefit and Temporary Seizure, provided that property owners are granted the statutory period for vacating the premises as prescribed… Read more

Al-Haqeel concludes his visit to America He witnesses the signing of 5 agreements in real estate development and financing

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Part of Al-Haqeel's visit to America - Real Estate Finance

Reading time: 2 MinutesHis Excellency Majid bin Abdullah Al-Hogail, Minister of Municipalities and Housing, concluded his official visit to the United States yesterday, during which he met with a number of officials from the U.S. government, major construction and real estate development companies, and financial institutions to strengthen the partnership between the two countries in the sectors of urban development, construction, real estate development, and real estate financing. His Excellency witnessed the signing of five agreements and memoranda of understanding between the housing sector … Read more

Ahead of its opening this year How does the Riyadh Metro affect the real estate sector in the capital?

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Reading time: 3 MinutesAmid the major economic transformations taking place in the Kingdom of Saudi Arabia, the Riyadh Metro project plays a vital role in supporting economic activity and the real estate sector in the capital. This project, considered one of the largest public transportation projects in the world, is not merely a means of transportation but a key factor in promoting real estate development and attracting investment to Riyadh. According to previous statements by the Minister of Transportation … Read more

More than one billion riyals deposited in the accounts of “Residential” beneficiaries for the month of August

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Reading time: < 1 MinuteThe Real Estate Development Fund announced today that it has deposited 1.04 billion riyals into the accounts of “Sakani” beneficiaries from the Ministry of Municipalities and Housing and the Real Estate Development Fund for the month of August 2024. Mansour bin Madi, CEO of the Real Estate Fund, explained that the total August subsidy of 1.004 billion riyals was allocated to support payments under various housing subsidy programs, with the aim of helping beneficiaries acquire suitable housing … Read more

Real Estate Registry in 18 neighborhoods in Riyadh starting on Rabi'I 26

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Cadastre

Reading time: < 1 MinuteThe General Real Estate Authority announced the start of the physical registration of real estate for (198,842 parcels) in 18 neighborhoods in the Riyadh region, beginning on September 29, 2024, corresponding to Rabi’ al-Awwal 26, 1446 AH, through the end of January 2, 2025 CE, corresponding to Rajab 2, 1446 AH. The Authority clarified that the neighborhoods benefiting from the real estate registry at this stage include the following: (Al-Sa’ada Neighborhood, … Read more

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