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How does an escrow account work and its role in protecting funds?

Reading time: < 1 Minuteأوضحت الهيئة العامة للعقار مفهوم حساب الضمان ودوره في حماية أموال المساهمين والمشترين، إضافةً إلى توضيح آلية عمله والإجراءات المنظمة لعمليات الإيداع والصرف، بما يضمن ... Read more

Clarifying the concept of the escrow account and its working mechanism in protecting buyers' funds and ensuring the sustainability and completion of real estate projects

20/04/2026

Municipality of Tabuk signs contracts for development projects worth more than 383 million riyals

Contracts worth 204.6 million for maintenance and 178.7 million for infrastructure for Tabuk Municipality projects in 2024.

Ministry of Commerce spokesperson reveals 5 key benefits of the new commercial registry system

Granting a five-year grace period for correcting subsidiary registries, adopting a single national commercial registry, and requiring businesses to open a commercial bank account.

Cabinet Approves Commercial Registration and Trade Names Law

They adopt a standardized electronic business registry and name reservation rules, with a five-year grace period and requirements for annual confirmation and bank account opening.

Cabinet Approves Real Estate Transaction Tax Law

5% is levied on the value of the sale or transfer of the property and is payable upon real estate clearance or notarization.

Zakat, Tax and Customs Authority

«Zakat clarifies how to recover the tax value after canceling the real estate sale

The seller can cancel the order via the real estate portal and the amount will be refunded to the same IBAN within 15 working days.

انتهاء تطبيق قرار حظر العمل تحت أشعة الشمس

انتهت فترة التطبيق (15 يونيو–15 سبتمبر 2024) بعد ثلاثة أشهر، وبلغت نسبة امتثال المنشآت 94.6٪.

Cadastre

Learn about the requirements for real estate transactions for heir-owned property

The Land Registry requires a deed of heirship and the consent of the heirs or their representatives to complete the sale, gift, or mortgage.

To be held in Riyadh Global Proptech Summit to discuss the real estate tech ecosystem next October

Organized by the General Authority for Real Estate under the patronage of Minister Al-Hogail, it brings together experts, companies and technology to showcase Proptech innovations and solutions

Building license via Baladi platform

Registration for the training programs of the National Committee for Saudi Building Code begins

Registration for the "Fundamentals of Structural Design" course SBC 304 in cooperation with ACI and the Saudi Council of Engineers, September 29-30 in Riyadh.

Al-Haqeel

Al-Haqeel reviews the Contractors Authority's strategy and services to regulate the contracting sector

Meet the Board of Directors, Governance of Contracting Enterprises and the Alliance Platform, and appreciate the efforts to develop the sector

In detail... Draft requirements for the provision of telecommunications services in real estate

Invitation to comment between September 4 and October 3 on regulations outlining infrastructure standards and responsibilities of developers and service providers

Removing construction and demolition debris

Construction waste removal and building tours Municipalities continue their efforts to improve the real estate sector

Municipality conducts inspections, removes tens of thousands of cubic meters of construction waste and maintains urban facilities

Building Compliance Certificate

Riyadh Municipality: Start applying for qualification applications for real estate development plans

The Secretariat invites consulting companies to qualify for the flood drainage networks from September 8 to October 4, 2024 to raise the efficiency of the networks and the quality of life.

Video. Riyadh Chamber explains the system of selling and leasing off-plan real estate projects

The Riyadh Chamber and the General Real Estate Authority reviewed the provisions of the system and its regulations to regulate sales and leasing and protect the rights of the parties.

Private Sector - Saudi Economy - Construction Contracts in Saudi Arabia

Suspension of business license fees for hotels, hotel apartments and resorts

Elimination of activity license fees for hotels, hotel apartments and residential resorts as of September 4, 2024 to support tourism investment

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