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

Details... The Minister of Finance Approves the Executive Regulations for Zakat Collection, 1445 A.H.

The 128-article regulation outlines the rules for collecting zakat and applying them to fiscal years beginning January 1, 2024.

When is the escrow account in real estate contributions closed?

KDIPA confirms that the escrow account for real estate contributions can only be closed after its approval

Ministry of Justice - Real Estate Exchange

Ministry of Justice unveils the second edition of the Real Estate Exchange Services Guidebook

The guide explains the trading, mortgaging and financing services, sukuk issuance and sukuk updates via the digital real estate platform.

Off-plan Real Estate Projects Real Estate Contributions

Learn about the regulations governing the escrow account for the sale and rental of off-plan real estate projects

The General Real Estate Authority releases drafts of the executive regulations, escrow account controls, and practitioner qualification for public review via a survey platform.

Off-plan sales

Infographic | Wafi conducts 1130 control rounds on off-plan sales projects in 2023

Enforcement teams carried out 1130 field visits, resulting in the seizure of 576 violations in four regions during 2023.

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

Everything you need to know about the terms, requirements and how to enroll in Real Estate Advisor

A summary of the documents and procedures required to subscribe to the Real Estate Advisor service of the Real Estate Development Fund.

Ministry of Justice - Real Estate Exchange

Steps to update real estate deeds via Najeez portal

Ministry of Justice allows conversion of paper sukuk to electronic via Najeez with simplified procedures for citizens

Off-plan Real Estate Projects Real Estate Contributions

General Authority for Real Estate reveals 18 requests for issuance of real estate contribution license

A list of 18 requirements including legal documents, feasibility studies, triple assessment, certificates and official approvals.

Ministry of Industry and Mineral Resources - Certificate of Origin

Infographic: Ministry of Industry issues 152 new industrial licenses in January

The licenses cover five activities, food products in the lead, and January's investments amounted to 6.2 billion riyals.

Learn about the regulations for qualifying off-plan sales or leasing activities

Public Authority for Real Estate launches draft regulations for review and comment via the "Explore" platform"

Saudi Arabia Foreign Investment

250 billion dollars worth of contracts for infrastructure projects in Saudi Arabia in a year

Knight Frank report: Riyadh has signed nearly $250 billion in construction contracts in 12 months, as momentum toward Vision 2030 accelerates

Off-plan sales projects - Real estate transactions

In detail... Draft executive regulations for the off-plan sale and lease of real estate projects

Drafts of the Executive Regulations and Rules of Assurance and Qualification of Practitioners have been released on the "Explore" platform to receive public and agency feedback

Off-plan Real Estate Projects Real Estate Contributions

Real Estate Authority releases draft executive regulations for the sale and lease of off-plan real estate projects

Call for Opinion on the Controls of the Guarantee Account and the Qualification of Practitioners and the Executive Regulations (54 articles) via the "Tasawwuf" platform"

Infographic: Real Estate Authority conducts 31 rounds of compliance inspections in February

The visits included 8354 establishments, electronic scanning of more than 8067 advertisements, and the authority received 680 reports.

Jazan Municipality - Units under construction

Jazan Municipality conducts control tours on buildings under construction

Abu Arish Municipality carried out 94 control rounds in February, issued 32 violations, and approved 61 licenses and 18 occupancy certificates.

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