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Saudi Central Bank announces the authorization of the Saudi Housing Guarantee Services Company «Damanat»

Reading time: < 1 Minuteأعلن البنك المركزي السعودي “ساما” الترخيص للشركة السعودية لخدمات الضمان الإسكاني “ضمانات“، وهي شركة مملوكة لصندوق التنمية العقارية​؛ وتختص بمزاولة نشاط التأمين في فرعَي “التأمين ... Read more

10/07/2023

Saudi Central Bank
union-chambers-saudi

Important clarification from the National Committee for Real Estate Development on requiring banks to have annual plans to liquidate real estate

The National Committee for Real Estate Development clarifies that the CBRD's circular on real estate liquidation plans is a precedent-setting measure aimed at standardizing reporting and enhancing transparency

Regulations for Special Economic Zones come into effect Regulatory exemptions and tax incentives to boost investment

New regulations for special economic zones give companies organizational flexibility, exemptions and tax incentives to enhance the Kingdom's competitiveness and attract investments.

Public Interest Expropriation Law to be implemented Fair compensation and broader guarantees for owners

The new system restructures expropriation procedures, introduces additional compensation and tax exemptions, and unifies oversight to ensure transparency and landlord rights.

Saudi Road Code regulates the location of parking lots and facilities to support traffic safety

The code requires the planning of parking lots and facilities to take into account the movement of pedestrians and bicycles, reduce random parking, and increase the efficiency of roads within cities.

42 million riyals in white land fees for 4 real estate companies

Tadawul disclosures reveal that four listed real estate companies received invoices for white land fees worth SAR 42.48 million in Riyadh.

Ministry of Municipalities and Housing launches «Contractor Coding» initiative to boost project delivery efficiency

The initiative creates a periodic list of defaulting contractors, links project participation to past performance, and provides rehabilitation programs to improve efficiency.

Directory of offending residential units

Launching the draft control manual for violating residential units Controls and fines of up to 25,000 riyals

The ministry has released a draft regulatory guide to prosecute violating unit division, with fines of up to 25,000 riyals.

«White Land»: Developing the land stops fees and enhances the efficiency of the real estate market

The program confirms that the completion of land development suspends fees and incentivizes investment within urban areas to increase supply and balance the market

«Ejar launches settlement invoice reversal service to enhance transparency of contract termination

The new service enables canceling the settlement invoice after the termination of the lease contract and sharing it with the competent authorities to ensure the accuracy of financial transactions.

White Land Fees Program

فيديو.. رقمنة كاملة لرسوم الأراضي البيضاء.. مسؤول يكشف تفاصيل الإجراءات وحقوق الملاك

A unified electronic platform for white land fees allows invoicing, payment and objection within 60 days and promotes transparency and preservation of owners' rights

Public Authority for Real Estate logo

The General Authority for Real Estate stops a real estate auction and refers two auction organizers to the concerned authorities

KDIPA stops an illegal auction and refers two auction organizers for investigation after receiving funds without licenses, and confirms tightening control over the market

White Land Fees

«January bill» Confusing the calculations of the big boys: Will «white taxes» end land monopolies in 2026?

Issuing 60,000 invoices puts major developers under direct financial pressure on liquidity and profits if they don't commit to development

Ministry of Finance - Markets

Ministry of Finance requires all government entities to offer transportation through Etimad e-auction

The decision includes making it mandatory for all entities to sell movable assets through Etimad's online auction platform to enhance transparency and efficiency in managing government assets.

White Land System Logo

The virtual branch of the White Land Fees. A digital transformation to serve beneficiaries

An integrated digital platform for white land fees and vacant properties that simplifies procedures, speeds up transactions, and promotes digital transformation in the real estate sector

Excavation work

12 Articles Regulating the Naming of Public Facilities

New rules for naming public facilities repeal previous regulations, specify controls for religious names and personalities, and distribute naming powers to government agencies.

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