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

Reading time: < 1 Minuteكشفت شركة نايت فرانك في أحدث تقرير لها عن قيام المملكة بمنح نحو 250 مليار دولار من عقود البناء ضمن مشروعات البنية التحتية والعقارات خلال ... Read more

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

14/03/2024

Saudi Arabia Foreign Investment
Survey... Exterior panels

Exterior signage is beauty and organization Compliance with legislation and control limits visual distortions

Experts and artists emphasize that adherence to specifications, censorship and intellectual property protection improves urban appearance

Cabinet of Ministers

Cabinet approves investment system. And Falih: Provides an attractive and supportive environment for investors

The updated system is a pillar of the national strategy and will come into force in early 2025 to enhance the attractiveness of the investment environment

Off-plan real estate projects

Learn about the penalties for violations of the off-plan real estate sales and leasing system

The General Authority for Real Estate (GAR) is releasing the schedule of violations for consultation until August 23, which includes 26 violations and fines of up to half a million riyals.

General Authority for Competition

Infographic: 6 contracting companies fined SAR 77.5 million for violating the competition law

The authority conducted investigations and gathered evidence of collusion in the bidding process and filed a criminal case before the adjudication committee.

Zakat, Tax and Customs Authority

“Zakat Authority invites businesses to submit tax withholding forms for the last month

It calls for forms to be submitted via zatca.gov.sa before August 11, warning of an 1% late penalty every 30 days.

Stalled real estate projects

6 requirements to address the trajectory of stalled off-plan real estate projects

The General Real Estate Authority (GRA) has released a practical guide for addressing defaults and opened the door for feedback, outlining six corrective actions.

Real Estate Registration Authority Logo

The General Authority for Real Estate solicits opinions on the technical guide to address stalled and delayed real estate projects

An invitation to the municipal services and planning sector to provide feedback on the guide via the survey platform (August 4-19, 2024).

Nagz platform

Requirements for updating and amending the real estate deed and application steps

The Najeez platform allows converting paper sukuk into electronic sukuk and submitting requests for updates or amendments electronically without visiting the notary office.

Legal and Real Estate Tips How to avoid fraudulent leases

Lawyer Faisal Al Rumaih offers practical guidance: Read the entire contract, check the deed, deal with a reliable developer and avoid suspicious transfers

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.

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