Month: December 2024

Early Payment Discount Program How will it change the landscape of the real estate industry?

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

Reading time: 2 MinutesIn a new strategic move aimed at stimulating financial stability and supporting the housing sector, the Real Estate Development Fund (REDF) has announced the launch of the Early Repayment Program, which offers a discount of up to 24% for direct lending beneficiaries before 2017. With this initiative, the Fund opens new doors for existing homeowners, while enhancing the ability of real estate developers to develop new projects, and promises to change the face of ... Read more

Statistics: Industrial production index rose by 5 % in October

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Residential program

Reading time: < 1 MinuteThe General Authority for Statistics (GASTAT) released today the results of the Industrial Production Index (IPI) for October 2024. According to the results of the bulletin, the index of industrial production quantities increased by %5 compared to the similar month of the previous year (October 2023), supported by the increase in all sub-economic activities that constitute the components of the index, which include mining and quarrying activity, manufacturing activity, ... Read more

“Municipalities and Housing” launches a new package of model contracts for the municipal and residential sectors Details

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Ministry of Municipalities and Housing - Group Housing Requirements

Reading time: < 1 MinuteThe Ministry of Municipalities and Housing (MoMH) has launched a new package of model pilot contracts through the Baladi Aamaal platform, which aims to facilitate contracting procedures and clarify the rights and obligations of all parties, minimizing legal disputes and maintaining good relations between stakeholders, ensuring the implementation of projects without stumbling or breach and agreeing to them under these contracts. The new package comes ... Read more

Deputy Emir of Sharqiya hands over housing units to beneficiaries of “Joud Housing”

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Residential program

Reading time: 2 MinutesHis Royal Highness Prince Saud bin Bandar bin Abdulaziz, Deputy Emir of Eastern Province, sponsored the ceremony of handing over housing units to the beneficiaries of the Community Development Housing Foundation (Sakan) and honoring the 12 major donors within its initiative “Joud Al Sharqiya”, in the presence of HE Minister of Municipalities and Housing and Chairman of the Board of Trustees of the Foundation, Mr. Majid bin Abdullah Al Haqeel, at the Emirate Diwan last Thursday, in the presence of His Excellency the Minister of Municipalities and Housing. Joud Housing Initiatives ... Read more

Saudi Central Bank announces the launch of samsung pay in the Kingdom

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Saudi Central Bank

Reading time: < 1 MinuteThe Saudi Central Bank (SAMA) has announced the launch of the Samsung Pay payment service through the national payments system Mada in the Kingdom. The move comes as part of the central bank's ongoing efforts to enhance the Kingdom's digital payments ecosystem, in line with the Kingdom's Vision 2030. The service aims to provide an advanced and secure payment experience for users, enabling them to add ... Read more

By the end of the third quarter: 207.99 billion riyals the size of real estate investment funds' assets

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Reading time: < 1 MinuteReal estate investment funds accounted for the largest share of the value of investment funds' assets by 41.59%, equivalent to SAR 207.99 billion, followed by equity funds by 41.48% worth SAR 207.43 billion, during the third quarter of 2024, while the total assets of private investment funds in Saudi Arabia witnessed a significant growth of 28.02% by the end of the third quarter of 2024, compared ... Read more

Real Estate Authority spokesperson explains: How to avoid becoming a victim of real estate fraud

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Public Authority for Real Estate Taysir Al-Mafraj

Reading time: < 1 MinuteThe spokesperson for the General Real Estate Authority (GRA), Tayseer Al-Mafraj, explained a number of tips for people not to fall victim to real estate scams. During an interview with the “Saudi Street” program, broadcast on Saudi TV, he said that there are a number of cases that make a person must be careful during real estate transactions, such as if he refuses ... Read more

More than 13 thousand cubic meters of construction waste removed in Hafar Al-Batin

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Reading time: < 1 MinuteHafar Al-Batin Municipality carried out a comprehensive campaign during the month of November as part of the program to improve the urban landscape and address elements of visual disfigurement in the governorate. The campaign resulted in the removal of more than 13,583 cubic meters of construction waste, 857 containers within residential neighborhoods, 160 square meters of graffiti, 76 paintings, and ... Read more

Nonprofit Mohammed bin Salman City strengthens its leadership in sustainable urban design

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Reading time: < 1 MinuteThe headquarters of the Mohammed bin Salman Foundation (Misk), located in the non-profit Mohammed bin Salman City (Misk City), has been awarded the WELL Gold certification for the design phase. The achievement reflects Misk City's leadership role as a center for innovative urban design and its commitment to promoting sustainable urban spaces that focus on human health and well-being. The achievement is consistent... Read more

“The Line Sustainable innovation

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Real Estate Marketing - Lana Al-Shabaneh - The Line

Reading time: < 1 Minute“The Line. Sustainable Innovation Lana Fahad Al-Shabaneh The Line is part of Saudi Vision 2030, one of the Kingdom's ambitious projects, announced in January 2021, and will be implemented as part of NEOM City, which aims to diversify the Kingdom's economy and reduce dependence on oil. Spanning 170 kilometers, The Line is a new model for sustainable cities based on ... Read more

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