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Insurance Commission: Approval of Damanat's off-plan developer financing guarantee product

Reading time: < 1 MinuteThe Insurance Authority announced the approval of the Saudi Housing Guarantee Services Company's off-plan developer financing guarantee product for group customers.... Read more

The product aims to enable developers to obtain funding and promote innovative insurance products with the need to verify the product number.

10/07/2024

Real Estate Cases - Lawyer Survey

Challenges for lawyers Real estate cases and obstacles to justice

Multiple jurisdictions, the complexity of updating deeds, and the lack of registration of leases hinder real estate cases.

Municipality of the Holy Capital - Building Violations

Video | Conditions for issuing a «Building Compliance» certificate»

The Municipality of the Holy Capital clarifies the requirements for conformity of buildings to minimize visual distortion and the procedures for granting the certificate

Abdulrahman Al-Qout - Real Estate Sales - Multiple Options - Selling Residential Units

Premium Residency and Creating New Markets

Residency system attracts investors and talent, boosts demand for luxury real estate and stimulates new markets and services

Penalties for commercial concealment

التستر التجاري: تصحيح بيانات أكثر من 450 ألف سجل تجاري

ربط السجلات بحسابات بنكية، 85,783 زيارة تفتيشية، إصدار 6 آلاف رخصة نقل، وإلغاء أكثر من 650 ألف رخصة بلدية

Auction - Courts

Courts to conduct nearly 4,000 auctions in 2023

With an average of about 11 auctions per day, investment and commercial real estate accounted for 40%, with Riyadh leading with 1123 auctions.

Ministry of Commerce - Saudi Companies

Advantages of amending the articles of incorporation under the new system

The ministry outlines online procedures on business.sa for amending articles of incorporation and encourages companies existing before January 19, 2023 to take the initiative.

Ministry of Commerce Financial Statements Filing

Commerce invites companies to amend the Memorandum of Association according to the new system via the “Business Platform”

Companies established before the system comes into effect are required to amend the articles of association electronically through the business platform without publishing fees temporarily.

Public Authority for Real Estate - Off-plan Selling

30 articles in the off-plan real estate sales and leasing system limit violations

Effective from April 4, 2024, the system regulates developer licenses, oversight and disclosure and protects the rights of all parties to the contractual relationship.

More than 3400 building permits issued through Baladi platform in Al Bahah in 2023

أمانة الباحة وبلدياتها أصدرت أيضاً 6803 رخص تجارية و1703 تصاريح حفريات عبر منصة بلدي.

Public Authority for Real Estate spokesperson Tayseer Al-Mafraj

Starting January 15 Electronic payment of residential leases is mandatory

KDIPA clarifies the application of the mechanism to new residential contracts starting January 15 and the obligation to pay through Ejar platform only.

Off-plan sales

بنصوصها.. 30 مادة تحكم نظام بيع وتأجير مشروعات عقارية على الخارطة

يُلزم المطورين بالتسجيل والحصول على ترخيص وبدء الإنشاء خلال ستة أشهر وتعويض المشترين عند التأخير.

Building license via Baladi platform

Al-Haqeel approves amendments to the executive regulations of the Contractor Classification System

The regulation stipulates the issuance of the classification certificate electronically for two years and verification procedures and requirements for accounting books and records.

Real estate applications

Ihkam reveals 5 conditions for real estate ownership applications in Saudi Arabia

The application must be submitted before 5/5/5/1444 AH, final title deed, cadastral report, representative's ID and Ihkam account registration

Zakat, Tax and Customs Authority

Zakat Commission reveals cases in which real estate transaction tax can be refunded

Commission: Refunds are available upon payment without canceling the sale, and the money is returned to the same IBAN account.

“National Housing Authority and New Square Development sign MoU to implement sustainability assessment standards

It aims to implement a sustainability assessment system for the New Square development project, which includes more than 100,000 housing units.

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