Government | Monday 10 July, 2023 9:11 am

SAMA licenses REDF-owned firm to provide insurance services

Saudi Central Bank (SAMA) licensed the Saudi Mortgage Guarantee Services Company (Dhamanat), a company owned by the Real Estate Development Fund (REDF), to provide general insurance and protection and savings insurance services.   It added that this initiative is pursuant to the...

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Government | Monday 10 July, 2023 9:06 am

Ministry of Commerce issues 56,400 commercial registers in Q2 2023

The Ministry of Commerce issued its Q2 2023 bulletin on the performance of the Saudi business sector.More than 56,000 commercial registers were issued in the second quarter. The total number of existing commercial registers exceeded 1.35 million. Top 10 Sectors by Commercial...

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Government | Sunday 9 July, 2023 9:10 am

190,700 real estate manual deeds updated online YTD

About 190,700 handwritten real estate deeds have been updated online across the Kingdom year to date. Residential and commercial buildings accounted for nearly 75% and 25% of updates deeds, respectively. By city, Riyadh came on top with around 69,184 e-deeds, or 36.3% of the total. It was ...

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Government | Sunday 9 July, 2023 9:05 am

Finance minister approves model arbitration agreement with SCCA

Mohammed Al-Jadaan, Minister of Finance, approved the model arbitration agreement and model arbitration agreement with the Saudi Center for Commercial Arbitration (SCCA).   Pursuant to Article 13 of the government tenders and procurement law, the minister shall approve the model...

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Government | Sunday 9 July, 2023 9:00 am

Cabinet approves amending off-plan sales or rent regulations

Saudi Arabia’s Cabinet approved amending residential unit off-plan sales or rent regulations by replacing the “Ministry of Municipal, Rural and Housing Affairs” with the “Real Estate General Authority (REGA)” and the “Minister of Municipal, Rural and Housing Affairs” with the “Board ...

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Government | Friday 7 July, 2023 1:01 am

Transfer of the service of registering inheritance files for minor heirs from Awqaf Dubai and Community Development Authority to the Probate Court

Dubai Courts announced the transfer of the service of registering inheritance files for minor heirs from Awqaf Dubai and Community Development Authority to the Probate Court in Dubai.His Excellency Judge Mohammed Jassim Al-Shamsi, President of the Probate Court in Dubai, affirmed that the new...

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Government | Thursday 6 July, 2023 10:11 am

Ministry to set up 4 firms for Al Hilal, Al-Nassr, Al-Ittihad, Al Ahli clubs

Saudi Arabia’s Ministry of Commerce approved the establishment of four companies: Al Hilal, Al Nassr, Al-Ittihad, and Al Ahli as closed joint stock companies to practice all commercial activities with a capital of SAR 100 million each. The approval included that 75% of the capital of the...

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Government | Thursday 6 July, 2023 9:20 am

Dubai Customs and the power of partnerships: driving a thriving knowledge-based economy

The Dubai Customs Consultative Council (DCCC) stressed the importance of enhancing fruitful partnerships and constructive collaboration between the public and private sectors to achieve the economic goals of Dubai Agenda D33. During their second meeting this year, they highlighted that the...

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Government | Wednesday 5 July, 2023 11:39 am

Human Resources Ministry obliges entities to authenticate 80% of employment contracts via Qiwa

Saudi Arabia’s Ministry of Human Resource and Social Development started the third phase of contract authentication, whereas organizations commit to authenticate 80% of employees’ contracts via Qiwa platform.   In a statement, the ministry pointed out the third phase will...

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Government | Wednesday 5 July, 2023 9:15 am

Saudi Arabia, Kuwait own resources, Durra oilfield in maritime ‘Divided Area’: Foreign Ministry

Saudi Arabia and Kuwait exclusively own the natural wealth, including Durra gas field, in the maritime “Divided Area,” Saudi Press Agency reported, citing a foreign ministry source. Referring to a note trending on the Durra field, the source added that Saudi Arabia and Kuwait have...

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