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Cabinet Approves Real Estate Transaction Tax Law

Reading time: < 1 Minuteرأس صاحب السمو الملكي الأمير محمد بن سلمان بن عبدالعزيز آل سعود ولي العهد رئيس مجلس الوزراء – حفظه الله -، الجلسة التي عقدها مجلس ... Read more

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

18/09/2024

Residential land

1500 riyals per square meter: Steps to reserve land through the real estate balance platform

Ministry of Municipalities and Housing to offer 10-40,000 housing plots through Al Tawazun platform with electronic registration until October 23 and announcement of beneficiaries on November 9

Housing Subsidy Program

Housing Subsidy Regulation: The monthly installment amount is set at 33% of the applicant's income

Article 44 establishes a monthly installment of 33% of the applicant's income, with a maximum repayment period of 25 years and conditions for starting the deduction.

Real estate fund

In the updated regulation Requirement to waive Real Estate Fund applications for housing subsidies

The new regulation requires all loan applications registered with the Real Estate Fund to be waived and documented within 30 days.

Residential program

New changes in housing subsidy regulations SAR 5 million asset ceiling for the beneficiary's family

The regulation stipulates that family assets must not exceed 5 million riyals and excludes up to 3 cars and residential land up to 1000 m².

Real estate projects in Saudi Arabia

“Executive Regulations for Housing Subsidies” come into effect. New rules and conditions

A new decision regulates the eligibility and priority mechanisms with a point system, sets a premium rate of 33% and requires data updating.

Residential program

“Residential” program announces modification of the duration of a divorced mother's entitlement to support

تخفيض مدة استحقاق الأم المطلقة للدعم السكني من سنتين إلى سنة واحدة

Real Estate Registration Authority Logo

“Real Estate Authority conducts 44 rounds of inspections in September to ensure compliance. A number of violations were detected

KDIPA teams visited 541 establishments, carried out 10,262 field audits, and received and processed 820 real estate reports.

Rent platform

Rent platform: 4 modifications the tenant is prohibited from making in residential and commercial units

Structural, electrical, HVAC, and plumbing modifications are prohibited without owner approval and technical approval, with legal liability.

Riyadh Chamber - Businessmen Ceremony

Riyadh Chamber discusses the role of the real estate registry in enhancing transparency Next Tuesday

The Real Estate Committee organizes the Real Estate Diwaniya on Tuesday, October 7 at the Riyadh International Center, the CEO of the Real Estate Registry is the keynote speaker at 5:30 pm.

President of the Eastern Chamber

Eastern Chamber: The legal provisions of the rental relationship are in line with the goals of Vision 2030

President of the Eastern Chamber praises the new regulation of the rental relationship to raise the efficiency of the market, stabilize investors and increase the contribution of the real estate sector

Royal Commission in Riyadh

Royal Commission in Riyadh clarifies residency requirement to obtain land through the real estate balance platform

The Royal Commission confirms that residence within the urban area of Riyadh is a prerequisite, and suburbs and farms are ineligible with the possibility of objection.

Rent platform

New updates in the regulation of the rental relationship More flexible and organized controls between landlord and tenant

Define automatic renewal mechanisms, set the rental value, e-documentation and track payments via Ejar platform

Public Authority for Real Estate logo

Dealing outside the Ejar platform. Legal risks and financial losses

The Authority confirms the invalidity of rental contracts outside the «Ejar» platform and calls for documenting them to avoid legal risks and financial losses.

The Second Forum Real Estate Balance - Al-Haqeel

November is the date for announcing the names of land beneficiaries through the real estate balance platform

Majid Al-Hogail revealed the registration of 40% landowners and plans to boost housing supply and provide units in accordance with Vision 2030.

Ministry of Municipalities and Housing

Ministry of Municipalities and Housing Updates Regulatory Requirements for Transportation Rental Offices

New rules covering parking, safety, availability and e-payment to better regulate the vehicle rental industry.

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