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In detail... Texts of the Articles of the Executive Regulations of the Contractor Classification System

Reading time: 4 Minutesوافق ماجد بن عبدالله الحقيل وزير الشؤون البلدية والقروية والإسكان، على تعديل اللائحة التنفيذية لنظام تصنيف المقاولين، لتحل هذه اللائحة محل اللائحة التنفيذية لنظام تصنيف ... Read more

Ministry adopts new regulation specifying the requirements, procedures and issuance of contractor classification certificates electronically

07/01/2024

Who is a real estate developer?
Real estate developer profits

Tadawul-listed real estate developers earn SAR 389 million by the end of Q1 2024

Down 29.4% from the comparable quarter, 7 companies increased profits, Emaar and Knowledge City posted significant losses.

President of National Housing at the Supply Chain Forum: 225 billion riyals worth of real estate portfolio by the end of 2025

National Housing announces 300 thousand housing units by 2025 and industrial and logistics agreements worth 3 billion riyals

Riyadh - Saudi Real Estate Market

77.37 billion riyals in real estate transactions in the Kingdom since the beginning of 2024

Ministry of Justice: Riyadh region accounted for 50.8% of the value of transactions, totaling 64,211 transactions.

Saudi Arabia Foreign Investment

International agency: Why is Saudi Arabia's real estate market more stable than Dubai's?

S&P: Saudi Arabia's market stability is due to a lack of expatriates, government support and strong housing initiatives.

Investors in real estate

23 billion riyals the volume of real estate financing in the first quarter of 2024

SAMA: Residential real estate financing fell 3% year-on-year with a monthly rise in March of 8.9%.

Private Sector - Saudi Economy - Construction Contracts in Saudi Arabia

71 billion riyals worth of real estate transactions in Saudi Arabia during April

The value of transactions fell 49 billion riyals compared to March, with 35 thousand properties and 504 million m² traded.

Saudi Central Bank

SAMA: Real estate financing rises to 791 billion riyals during Q4 2023

Commercial banks accounted for SAR 767 bn of real estate financing, and finance companies accounted for SAR 27.1 bn.

Zakat, Tax and Customs Authority

Learn about the Zakat Commission's latest amendments to the real estate transaction tax regulation

Expanding the exclusion for in-kind contributions to real estate investment trusts (REITs) and adjusting the tax due dates.

Real Estate Finance

Banks inject SAR 160 billion worth of real estate financing into companies

SAMA: Total real estate financing in 2023 amounted to 767.2 billion riyals and the number of contracts decreased 33% to 102.8 thousand.

Spokesperson for the General Real Estate Authority - Penalty for providing real estate informationTaysir Al-Mafraj

33 off-plan sales licenses issued in Q1 2024 13,907 new real estate units

Taysir Al Mufaraj: 153 qualified developers, competitive challenges, the need for digital transformation, and investments in tourism real estate development.

Cabinet of Ministers

Cabinet approves the final accounts of the Public Authority for State Properties

The council reviewed international communications, approved the accounts of multiple entities, and noted that five Saudi cities received advanced rankings.

Residential Sector - Real Estate Licensing

Saudi real estate revenues rise 18% during the fourth quarter of 2023

The sector turned profitable with SAR 741.54 million in the fourth quarter after losses of SAR 52.51 million in 2022

Public Authority for Real Estate - Off-plan Selling

11K Val Real Estate licenses issued during the first quarter of 2024

The total number of active licenses has exceeded 46,000 since the start of the wasta system, 64% for individuals and 36% for establishments.

Investors in real estate

Real estate transactions in the Kingdom achieve 477.3 million riyals during the second week of April

1022 properties worth 477.3 million riyals were traded, down 89% from the previous week, and 3.5 million m² were traded.

Saudi Central Bank

767.2 billion riyals of real estate financing from banks to companies and individuals by the end of 2023

SAMA: Individuals 79%, contracts 33%, with apartments 26% and villas 36%.

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