Month: September 2024

Ministry of Justice provides more than 2200 notarial services virtually during National Day

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Ministry of Justice - Real Estate Exchange

Reading time: < 1 MinuteThe Ministry of Justice stated that the number of notarial services processed through the virtual notary office during the 94th Saudi National Day exceeded 2,200. These transactions included the issuance of powers of attorney and declarations, the notarization of civil status documents, marriage contracts, and other procedures. The Virtual Notary Office aims to streamline procedures, enhance the efficiency and quality of notarial services, and improve the user experience by providing notarial services… Read more

Strong growth in Saudi Arabia's residential real estate sector with 27.5k new units

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International Monetary Fund Riyadh office market

Reading time: < 1 MinuteA recent report released by “JLL,” a firm specializing in real estate consulting and research, revealed that the residential real estate sector in Saudi Arabia performed strongly in the first half of 2024, driven by government efforts to promote homeownership. Residential real estate recovery The JLL report noted that the residential real estate sector … Read more

What are the main objectives of the contract registration service through real estate platforms?

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Ejar - Ejar Platform

Reading time: < 1 MinuteThe Ejar platform revealed the objectives of the contract registration service through real estate platforms in an infographic posted on its account on the social media platform “X.” According to the infographic, the objectives of the contract registration service via real estate platforms include the following: – Facilitating the process of searching for rental units and registering their contracts by completing them electronically. – Supporting investors in the digital real estate solutions sector. – Enhancing … Read more

Over 1 billion riyals deposited into “Sakani” beneficiaries’ accounts for September

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Reading time: < 1 MinuteThe Real Estate Development Fund announced today that it has deposited 1.05 billion riyals into the accounts of beneficiaries of the Ministry of Municipalities and Housing and the Real Estate Fund’s housing program for the month of September 2024. Mansour bin Madi, CEO of the Real Estate Fund, explained that the total support for the current month of September was allocated to subsidize the profits of various housing support program contracts, with the aim of improving beneficiaries’ ability to own homes, in order to achieve the objectives … Read more

Next Thursday... Deadline for property registration in 8 districts of Riyadh

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Real Estate Registration Authority Logo

Reading time: < 1 MinuteThe General Real Estate Authority announced that the deadline for real estate registration in eight neighborhoods in the city of Riyadh is approaching, with the deadline set for the end of Thursday, 23 Rabi“ al-Awwal 1446 AH, corresponding to September 26, 2024 AD. The Authority stated that the initial in-person registration for real estate will end in eight neighborhoods, namely: Jarir, Al-Rabwah, Al-Rayyan, Al-Rawabi, Al-Salam, Al-Manar, Al-Naseem Al-Gharbi, and Al-Naseem … Read more

Infographic: Highlights of the new exemptions in the Real Estate Transaction Tax Law

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Zakat, Tax and Customs Authority

Reading time: 2 MinutesThe Zakat, Tax, and Customs Authority has revealed the key new exemptions included in the Real Estate Transactions Tax Law. According to an infographic published by the Authority on its account on the social media platform “X,” these exemptions include the following: The Authority also revealed the key provisions of the Real Estate Transactions Tax Law approved by the Cabinet last Tuesday, along with its objectives and the date of its implementation. It is worth noting that … Read more

Building materials prices in August. Steel rises, electrical cables and timber mixed

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Steel Prices - Rebar

Reading time: 3 MinutesSteel prices in the Saudi market saw slight increases on a month-over-month basis last August, with the exception of one category, while prices for most categories of electrical cables recorded varying declines, in addition to fluctuations in timber prices. These changes were reported in the Bulletin of Average Prices of Goods and Services issued by the Statistics Authority, reflecting variations in market trends and various factors… Read more

National Day 94. The Journey of Urban Development in the Kingdom

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Mohamed El Hassami - National Day 95 - Foundation Day - Housing Subsidies

Reading time: < 1 MinuteThe 94th National Day: The Kingdom’s Journey of Urban Development by Mohammed Al-Hassami The Kingdom of Saudi Arabia has undergone a remarkable historical journey from a glorious past to a prosperous present. Since its founding in 1932, it has witnessed significant developments in various fields, from the construction of modern infrastructure to the erection of skyscrapers that reflect economic growth and a transition toward a better future. This development and this transformation … Read more

National Day 94. Celebrating Achievements

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Abdulaziz Al-Issa - Third Amlak Centennial - Lifting the land moratorium - Saudi Media - Vision 2030

Reading time: < 1 MinuteThe 94th National Day: Celebrating Our Achievements by Abdulaziz Al-Issa As we mark the 94th National Day, our country is witnessing rapid strides toward reaching the pinnacle of the great achievements the Kingdom has attained—some of which have already borne fruit, and others that are still developing until they are fully realized, delighting onlookers and spreading joy to those who contemplate them, and still others that have served as an inspiration to others to follow in the Kingdom’s footsteps, benefiting from its lead… Read more

The impact of recent trends on real estate prices in Saudi Arabia

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Hisham Al Qasem Real Estate Articles - Real Estate Investment - National Day 95 - Housing Projects Don't buy a property without a consultant - The Journey of Home Ownership

Reading time: 2 Minutes  The Impact of Recent Trends on Real Estate Prices in the Kingdom Hisham Al-Qasim The real estate market in Saudi Arabia is considered one of the most dynamic in the region, undergoing constant changes driven by recent trends in sustainability and smart technologies. These trends not only influence new designs and projects but also play a pivotal role in … Read more

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