Month: September 2024

Al-Jadaan: Controls on the allocation of state real estate to the non-profit sector will increase its contribution to GDP

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Minister of Finance Mohammed Al-Jadaan - Real Estate Transaction Tax Executive Regulations

Reading time: 2 MinutesMinister of Finance Mohammed Abdullah Abdulaziz Al-Jadaan confirmed that the adoption of controls for the allocation of state real estate to the non-profit sector will support it and raise its contribution to the local output. Al-Jadaan said in a tweet on his account on the social networking site “X”: "The adoption by the Board of Directors of the General Authority for State Real Estate of the controls of allocating state real estate to the non-profit sector comes in coordination with our partners in the Ministry of ... Read more

The General Real Estate Authority monitors 9633 real estate advertisements last month

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Reading time: < 1 MinuteDuring the month of August, the General Real Estate Authority (GRA), with the participation of the Ministry of Human Resources and Social Development, carried out 14 joint monitoring tours that included visiting 180 real estate establishments in the Riyadh region, the Eastern Province, the Makkah region, and the Qassim region to ensure compliance with real estate legislation in general and the real estate brokerage system in particular, in addition to the competence of the participating government agencies ... Read more

62,437 pieces of real estate start to be registered in 11 neighborhoods in Riyadh

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Riyadh - Saudi Real Estate Market

Reading time: < 1 MinuteThe Real Estate Registry announced today that it has started receiving registration applications for 62,437 real estate plots in 11 neighborhoods in Riyadh, namely: (Al-Maathir Al-Shamali, Al-Murabbaa, Al-Malaz, Al-Alia, Al-Numaria, Al-Zahraa, Al-Nasiriyah, Al-Conference, Al-Obtab, Dahiyat Namar and Al-Taiba). Owners of real estate located within the scope of the real estate areas benefiting from the real estate registry must register ... Read more

VIDEO An economist warns against capping rental prices and explains why

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Free housing unit

Reading time: < 1 MinuteEconomist and banking expert Talaat Hafez warned against putting a cap on rental prices: It could drive real estate developers out of the market. Hafez added during an interview with Al Arabiya radio: “Some are calling for rent prices to be capped according to area and housing, but this is not a successful solution to measure whether rents are suitable for the average individual's income. He continued: ... Read more

Developmental housing: Distribution of 6,000 housing units to needy families in the first half of 2024

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Residential Sector - Real Estate Licensing

Reading time: 2 MinutesThe Ministry of Buildings and Housing, represented by the Development Housing Agency, announced the distribution of 6,000 housing units to needy families in various regions of Saudi Arabia during the first half of 2024. The move comes as part of the ministry's ongoing efforts to provide adequate housing for the beneficiaries of the “Developmental Housing” program. An ambitious plan to increase the number of housing units, the ministry explained in ... Read more

54 billion dollars in investments in building and construction projects in Riyadh

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International Monetary Fund Riyadh office market

Reading time: < 1 MinuteGlobal real estate consultancy Knight Frank has revealed that since the launch of Saudi Arabia's National Transformation Plan (NTP) in 2016, project budgets and construction contract volumes in the Kingdom have exceeded $1.25 trillion, Construction Business News reported. According to Knight Frank, since the launch of Saudi Arabia's National Transformation Plan (NTP) in 2016, ... Read more

The launch of the fifth edition of the Transformation and Empowerment Program for Real Estate Development How and where to register

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Ministry of Municipalities and Housing - Group Housing Requirements

Reading time: < 1 MinuteThe Ministry of Municipalities and Housing announced the launch of the fifth edition of the Transformation and Empowerment Program for Real Estate Development in September. According to the ministry, the program comes under the title from empowerment to sustainability and innovation, as the program targets contractors, real estate developers, real estate brokerage companies, engineering offices and entrepreneurs and offers various programs that suit each category. Registration link: https://bit.ly/3WXOCXN and to know how to register: ... Read more

49 billion riyals of new housing finance provided to individuals in 7 months

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Mortgage Loan - Housing Units

Reading time: 2 MinutesSaudi Central Bank (SAMA) data revealed that the total value of new housing finance provided to individuals in the Kingdom by banks and finance companies amounted to 49.02 billion riyals during the period from January to July 2024, compared to 46.8 billion riyals in the corresponding period of 2023. The data also revealed that the number of financed contracts grew by 8.5%, ... Read more

Vacancies at the Public Authority for State Properties “Amlak publishes specializations and application link

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Public Authority for State Properties

Reading time: < 1 MinuteThe General Authority for State Properties has announced the availability of a number of vacancies in Riyadh for holders of a diploma or higher. Vacancies in the General Authority for State Properties - Chief Engineer. - Facilities Engineer. - Technical Support Coordinator. - Senior Design Specialist. - Performance Specialist. - Talent Acquisition Officer. - Senior Performance Management Specialist. - Program Manager. - Protection Officer... Read more

Riyadh Chamber organizes an introductory meeting on the off-plan sales and leasing system Tomorrow, Monday

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Riyadh Chamber

Reading time: < 1 MinuteThe Real Estate Committee of the Riyadh Chamber, in cooperation with the General Authority for Real Estate, will organize an introductory meeting next Monday, September 2, 2024, to explain the system of selling and leasing real estate projects on the map and the new executive regulations. According to the Riyadh Chamber, Mr. Abdullah bin Saud Al-Duhaim, General Supervisor of the Real Estate Development Sector at the General Real Estate Authority, will present the introductory meeting, scheduled to be held at ... Read more

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