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New real estate regulations boost job opportunities for qualified Saudis

Reading time: < 1 Minute In addition to organizing and correcting the real estate sector and putting it in an optimal direction, the General Authority for Real Estate has promoted the creation of more job opportunities through the real estate brokerage legislation, the real estate registration system, and the ownership and sorting of real estate units through the new real estate regulations that were recently approved and implemented.

06/07/2023

Real Estate Contributions Law
Public Authority for Real Estate - Off-plan Selling

Public Authority for Real Estate clarifies 4 advantages of the Real Estate Registry

The real estate registry contributes to the accuracy of unit data, facilitates transactions, attracts investors, and enables documentation of ownership.

General Real Estate Authority removes 8067 real estate advertisements to verify compliance with the system

KDIPA carried out 31 monitoring rounds on 8354 real estate establishments in Riyadh, Sharqiya, and Makkah and processed 680 reports.

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

Rules and conditions for expropriation of real estate and the mechanism for calculating compensation for owners

Financial: Evaluated with certified appraisers and compensated in excess of 20% with clear durations, and made 70% of Jeddah payments.

Starting May 26 8 neighborhoods benefit from the real estate registry in Makkah

It includes 1336 pieces of real estate and registration is available online or at service centers until August 29, 2024.

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

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