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Saudi retail property markets see growth despite Covid challenges
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IMF Executive Board Concludes 2021 Article IV Consultation with Saudi Arabia
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Expatriate remittance from Saudi jumps 5 9% to $3 34bln in May
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May 19, 2021
MoJ has raised the upper limit for the electronic conveyance of property from SR3 million to SR20 million, in cooperation with the Saudi Central Bank.
RIYADH The Saudi Ministry of Justice (MoJ) has raised the upper limit for the electronic conveyance of property from SR3 million to SR20 million, in cooperation with the Saudi Central Bank.
“Available around the clock through the Najiz.sa portal, the service enables electronic agreement on sale terms without a notary’s certifications,” the MoJ said.
To implement the service, the ministry also enabled digital verification of bank accounts and property transaction tax.
As part of several reforms and development initiatives, the ministry is working on enhancing digitization and providing innovative tech solutions that streamline procedures and fast-track services. SG
Wego sees jump in flight, hotel searches from Saudi Arabia
DUBAI, 16 days ago Wego, the largest online travel marketplace in the Middle East and North Africa (MENA), is gearing up for Saudi’s Arabia resumption of international flights. According to the Ministry of interior, the travel ban will be lifted on May 17 for specific groups and tourists. Through its platform, Wego saw 52 per cent increase in international flight searches and a 59 per cent increase in international hotel searches, following the announcement. Around 25 per cent of travellers are looking to travel within the 15 days of Saudi resuming flights where the search demand for this period has increased by 80 per cent since the date of the announcement.