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The details of the articles of the Real Estate Transaction Tax Law after the Cabinet's approval

Reading time: 2 Minutesأعلنت المملكة العربية السعودية مؤخرًا عن موافقتها على نظام ضريبة التصرفات العقارية، وهو قرار يعكس التزام الحكومة بتعزيز الشفافية في قطاع العقارات وتحسين نظم الحوكمة ... Read more

Law sets 5% tax on real estate transactions with exemptions, penalties, enforcement mechanisms and a deadline to correct the situation

12/10/2024

Zakat, Tax and Customs Authority
Saudi Commission for Certified Valuers

In detail. Adopting the rules governing the provision of real estate appraisal services to financing entities

Registration requirements include a fellowship certificate, 5,000 hours of experience, five members, minimum fee arrangements, and disbursement of dues through the Qayyim platform.

Cadastre

Real Estate Registry achieves ISO 20000 certification in IT service management

The certificate reflects the entity's commitment to promoting digital transformation and increasing the efficiency and reliability of IT services.

Off-plan real estate projects

Real Estate Authority conducts 11 joint monitoring tours targeting 173 real estate establishments during the month of July

KDIPA monitored 11,367 violating ads and received 603 reports during tours and e-surveys to verify real estate compliance.

Real Estate Brokerage System

Documentation of 219 thousand contracts. 3.5 million real estate transactions since the implementation of the real estate brokerage system

KDIPA has documented 219 thousand contracts and organized 3.5 million transactions worth more than 605 billion riyals since the implementation of the system.

Cabinet grants the Endowments Authority the authority to invest real estate funds deposited with it

A decision allowing the investment of expropriated real estate funds in the public interest was announced during a session that reviewed the Vision 2030 reports.

Off-plan real estate projects

How are real estate marketing and sales contracts concluded and what are their terms?

KDIPA clarifies the steps to conclude marketing and sales contracts electronically and the conditions for licensing and approval via text message.

Real Estate Brokerage Survey

The Real Estate Brokerage System A Year of Major Transformations Val's license is the most important gain

After a year of implementation, the market is organized, trust and transparency are increasing, and the VAL license has opened up job and investment opportunities.

Taif Municipality conducts monitoring tours to ensure compliance with the requirements of the Saudi Building Code

Building code management teams conduct field tours on buildings under construction to follow up on implementation and penalize violators.

Franchising - Facilities

“Monsha'at launches real estate innovation accelerator in partnership with the Ministry of Municipalities and Housing

A 12-week accelerator that supports 12 startups selected from over 600 entries to develop innovative real estate solutions.

Real Estate Registration Authority Logo

Infographic: Requirements for concluding and documenting a real estate brokerage contract

KDIPA clarifies the requirements for documenting real estate brokerage contracts and the procedures for concluding them electronically through KDIPA's platform and the conditions of the VAL license.

Off-plan real estate projects

Infographic: 5 new features available for real estate brokerage contracts Learn about them

The General Real Estate Authority offers five new features for brokerage contracts to facilitate documentation, including printing, digital maps, and resident registration.

Cabinet of Ministers

After approval by the Council of Ministers 24 Articles of the Anti-Corruption Law Promote Transparency and Integrity

The law grants the commission powers of investigation and prosecution, independence of the unit, and financial settlements to recover stolen funds

Territory

East Riyadh lands. Plans that support urban development and real estate investment

A presentation of the grant schemes in eastern Riyadh, their locations, advantages, and factors affecting the prices per square meter.

Real Estate Registration Authority Logo

Public Authority for Real Estate: Commitment to documenting real estate contracts preserves rights and promotes transparency

The digital documentation service regulates real estate transactions, protects the rights of beneficiaries and enhances market confidence.

Al-Haqeel

Al-Haqeel: Ministry's name change reflects commitment to developing an advanced urban environment

The royal order renamed the ministry the Ministry of Municipalities and Housing to promote urban development and improve housing services

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