Month: September 2024

Public Authority for Real Estate reviews the progress of the real estate legislation system

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Off-plan real estate projects

Reading time: < 1 MinuteThe Board of Directors of the Public Authority for Real Estate held its 28th meeting yesterday, under the chairmanship of H.E. Mr. Majid bin Abdullah Al-Hogail, Minister of Municipalities and Housing and Chairman of the Board of Directors of the Authority, in the presence of Engineer Abdullah bin Saud Al-Hammad, CEO of the Authority, Board members, representatives of government agencies, and representatives of the private sector. The Board reviewed a number of topics on its agenda, which began by reviewing the decisions ... Read more

Do mortgage loan installments pass to the heirs when the owner dies?

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Real Estate Development Fund - Your Subsidy Equals Your Installment - Direct Lending

Reading time: 2 MinutesThe Real Estate Development Fund has clarified the position of the beneficiary of the mortgage loan from paying the installments if he dies, in response to one of the inquiries it received. The Real Estate Development Fund's beneficiary care account received a question from a follower, who said: “Good afternoon. My father passed away two weeks ago and he has installments for you, is he exempt from repayment?” For its part, the Fund replied Read more

Registration of 239,348 pieces of real estate in Riyadh, Qassim and Madinah begins

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Cadastre

Reading time: 2 MinutesThe Real Estate Registry announced today the start of receiving registration requests for (239,348) real estate pieces distributed in the cities of Riyadh, Medina, and Buraydah. The Real Estate Registry explained that registration in Riyadh includes the neighborhoods of (Al-Saada, Al-Faihaa, Al-Sali, Al-Jazeera, Al-Noor, Al-Noor, Al-Aziziyah, Al-Masanea, Al-Mansoura, Khanshilah, Al-Rimal, King Khalid International Airport, Sidra, Al-Bayan, Al-Janadiriya, Al-Nadim, Al-Nadwa, Al-Ramaya, Al-Safa, Al-Farouq) In Madinah, it includes ... Read more

Saudi Real Estate Authority Launches Real Estate Technology Accelerator Details

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Off-plan real estate projects

Reading time: 1 MinuteThe General Authority for Real Estate launched the Real Estate Technology Business Accelerator in cooperation with the National Information Technology Development Program and the global business accelerator STARTUP WISE GUYS, with the aim of accelerating the development and growth of emerging and entrepreneurial companies and their expansion, to support the real estate sector and raise its contribution to the local product in accordance with the Kingdom's vision 2030. The Authority explained that the real estate technology accelerator program, which will be held at its headquarters ... Read more

Head of the Diriyah Gate Development Authority: Billion-dollar deals with European companies

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Diriyah Gate - The value of the expropriated property

Reading time: 2 MinutesJerry Inzerillo, CEO of the Diriyah Gate Development Authority (DGDA), has announced deals with European companies worth close to USD 1 billion as part of ongoing efforts to develop the historic Diriyah project. The authority has signed agreements with Italian and French development companies amid ongoing talks with foreign investors seeking to buy stakes in projects, according to Reuters. Read more

Ministry of Justice: More than two million reconciliation sessions held via Tawadi platform

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Ministry of Justice - Real Estate Exchange

Reading time: < 1 MinuteThe Reconciliation Center at the Ministry of Justice has worked to provide reconciliation services through the Taradhi digital platform, in fully electronic procedures that reduced time and effort for beneficiaries. More than two million electronic reconciliation sessions have been held through taradhi.moj.gov.sa since its inception, benefiting more than 4 million beneficiaries, while more than 370,000 reconciliation documents have been issued. As for the paths of ... Read more

Abu Dhabi real estate transactions record AED 55.2 billion in 9 months

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Abu Dhabi

Reading time: 2 MinutesAbu Dhabi's real estate market witnessed a remarkable recovery during the first nine months of 2024, with real estate transactions reaching record levels, reflecting the continued strength and stability of the emirate's real estate sector. This outstanding performance is supported by an increase in real estate transactions in both sales and mortgages, with local and international investors continuing to show interest in areas such as Saadiyat Island and Yas. Real estate transactions ... Read more

Ejar has registered more than 10 million rental contracts since its launch

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Ejar - Ejar Platform

Reading time: < 1 MinuteThe General Authority for Real Estate announced that the electronic network for rental services “Ejar” has registered more than 10 million rental contracts since its launch, with a daily average of 19 thousand contracts, where residential contracts accounted for more than 8.3 million contracts with 82.3% of the total residential rental contracts, while the number of commercial contracts reached 1.7 million, representing 17.6% of ... Read more

What are the reasons for high residential rental prices in Saudi Arabia?

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Free housing unit

Reading time: 3 MinutesThe Kingdom of Saudi Arabia has recently witnessed a significant rise in residential rental prices, which has become a challenge for many families and residents in different regions of the Kingdom. The reasons for this rise are numerous and vary between economic factors, demographics, and government policies. In this report, I will analyze these reasons with the help of data and figures from the Saudi Statistics Authority. Reasons ... Read more

Real estate registry work begins for 4 neighborhoods in Riyadh city and 13 neighborhoods in Diriyah governorate

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Cadastre

Reading time: < 1 MinuteThe General Authority for Real Estate announced the start of the real estate registration work for (43,495 real estate pieces) for (4) neighborhoods in Riyadh and (13) neighborhoods in Diriyah Governorate, starting from October 27, 2024, corresponding to 24 Rabi'II, 1446 AH, until the end of January 30, 2025, corresponding to 30 Rajab, 1446 AH. The Authority explained that the neighborhoods benefiting from the real estate registry in this phase ... Read more

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