Month: November 2024

With expenditures of 1,285 billion riyals and revenues of 1,184 billion riyals. Learn about the details of the 2025 general budget

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

Reading time: 3 MinutesThe Ministry of Finance announced today the final statement of the state budget for fiscal year 2025, projecting total expenditures of approximately 1,285 billion riyals and total revenues of approximately 1,184 billion riyals, amid estimates of a deficit of 101 billion riyals, representing approximately 2.3% of gross domestic product. Details of the 2025 General Budget: The statement reviewed the figures and details of the 2025 budget, including … Read more

Al-Haqeel: Adoption of modern construction in Saudi Arabia rises to more than 70%

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Al Haqeel - Business License - Quality of Life

Reading time: 2 MinutesThe Kingdom of Saudi Arabia is undergoing radical transformations in the construction sector as part of its efforts to achieve Vision 2030, which aims to promote sustainable development and localize industries. In this context, Minister of Municipalities and Housing Majed Al-Hogail announced a significant leap forward in the adoption of modern construction technologies, highlighting their role in boosting the national economy and supporting local talent. Details of the transformation in construction … Read more

Infographic: Residential Electricity Consumption Statistics for 2023 And Riyadh leads

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International Monetary Fund Riyadh office market

Reading time: 2 MinutesThe General Authority for Statistics announced today the results of the 2023 Household Energy Statistics Bulletin for the Kingdom of Saudi Arabia. The results of the bulletin showed that the Riyadh region accounted for the highest share of residential electricity consumption at 28.1 %, followed by the Makkah region at 25.5 %, Electricity consumption in the Eastern Province reached 16.7%, noting that … Read more

Learn about the Sabil service and its steps for sorting real estate units

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Reading time: < 1 MinuteAs part of efforts to streamline real estate services and improve the user experience, the Real Estate Unit Classification Program has launched the ”Sabil“ service, which allows users to easily submit requests to split or merge their National Address through its online platform. The service is part of ongoing efforts to develop the real estate sector and enhance its efficiency in line with the Kingdom’s Vision 2030. What is the ”Sabil“ service? The ”Sabil“ service allows users to submit … Read more

“National Housing launches sales in 10 new projects in Al Fursan destination northeast of Riyadh

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Al Fursan suburb

Reading time: 2 MinutesThe National Housing Company (NHC) announced the start of sales for 10 new projects within the Al-Fursan destination in the northeast of the capital, Riyadh, offering more than 5,310 modern residential units designed to the highest standards of quality and sustainability to meet the aspirations of all segments of society, within an urban destination aimed at promoting the concept of integrated living and offering a distinctive living experience that gives everyone a better life today … Read more

In detail... Amendment to Article 4 of the Executive Regulations of the Real Estate Unit Ownership Law

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Al-Haqeel

Reading time: 2 MinutesIn a move aimed at enhancing transparency and regulating the real estate sector in the Kingdom of Saudi Arabia, His Excellency the Minister of Municipalities and Housing, Chairman of the Board of Directors of the General Real Estate Authority, Majid bin Abdullah Al-Hogail, has approved significant amendments to the executive regulations of the Law on the Ownership, Classification, and Management of Real Estate Units. These amendments reflect the Kingdom’s commitment to developing real estate regulations to safeguard the rights of investors and owners and enhance the attractiveness of … Read more

Custodian of the Two Holy Mosques directs the extension of the Citizen Account Program to the end of 2025

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Custodian of the Two Holy Mosques

Reading time: < 1 MinuteThe Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud—may God protect him— and based on the proposal submitted by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister, and Chairman of the Council of Economic and Development Affairs—may God protect him—to extend the Citizen Account Program while continuing to provide additional support to beneficiaries… Read more

Jeddah Municipality Showcases the Benefits of the Al-Said Plan at an Informational Exhibition

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Reading time: 2 MinutesLast Thursday, the Jeddah Governorate Secretariat held an informational exhibition at its headquarters to sell plots of land in the “Al-Said Project” No. 290/B, located in the Al-Rahmaniyah neighborhood in the northeast of the city, under the patronage of His Excellency Saleh bin Ali Al-Turki, Secretary of the Jeddah Governorate. Al-Sa’id Project Exhibition: The Al-Sa’id Project Exhibition provides citizens with an opportunity to learn about the project’s benefits, review its details, and have their questions regarding the application process answered … Read more

Real estate registry work for 4 neighborhoods in Medina begins on December 26

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Medina

Reading time: < 1 MinuteThe General Real Estate Authority announced the start of the physical registration process for 370 parcels of land in four neighborhoods in Madinah, beginning on December 26, 2024, corresponding to 25 Jumada al-Thani 1446 AH, and continuing through March 31, 2025, corresponding to 2 Shawwal 1446 AH. The Authority clarified that the neighborhoods benefiting from the real estate registry at this stage include the following neighborhoods in Madinah: … Read more

Minister of Investment: 1,238 International Investors Granted Special Residency in the Kingdom

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Reading time: < 1 MinuteHis Excellency the Minister of Investment, Engineer Khalid bin Abdulaziz Al-Falih, announced that 1,238 international investors had been granted special residency under the “Business Investor Residency” program, during the 28th World Investment Conference held in Riyadh from November 25 to 27, 2024, which serves as a global dialogue platform bringing together an elite group of leaders and major investors from various parts of … Read more

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