Business & Money | Saturday 3 January, 2026 5:26 am

PIF assets rise to $1.

The Public Investment Fund (PIF) ranked fifth among the world’s largest sovereign wealth funds (SWFs), after its net assets amounted to $1.15 trillion, recent data from the SWF Institute showed.   PIF's assets rose by $226 billion from $925 billion by the end of December...

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Government | Saturday 3 January, 2026 5:23 am

Saudi embassy says mutual visa exemption with Russia not yet in force

The Saudi embassy in Russia said the mutual visa exemption agreement between the two countries has not yet entered into force. In a post on X, the embassy said the agreement’s implementation remains subject to the completion of required regulatory procedures between both sides under approved ...

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Business & Money | Saturday 3 January, 2026 5:04 am

Asas Makeen receives SAR 1.65M in idle land tax invoices, plans to appeal

Asas Makeen Development and Investment Co. announced receiving three idle land tax invoices totaling SAR 1.65 million today, Jan. 1, pertaining to land plots located within the designated geographic zones of the White Land Fees System.   These amounts have been recorded as...

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Government | Thursday 1 January, 2026 11:27 am

Updated law on non-Saudis’ property ownership comes into effect today

The updated law regulating property ownership by non-Saudis in the Kingdom comes into force today, Jan. 1, following approval by the Saudi Cabinet in July 2025. The updated law aims to regulate non-Saudis’ ownership of real estate and the acquisition of real property rights within the...

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Government | Thursday 1 January, 2026 11:25 am

Issuance of white land fee bills begins today in Riyadh

The issuance of white land fee bills for lands subject to the levy in Riyadh began today, Jan. 1.   Landowners may apply for an additional development grace period once the fee is assessed on their land. The additional period is granted upon approval by the competent committee in...

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Business & Money | Thursday 1 January, 2026 11:24 am

Over 60,000 white land fee invoices issued in Riyadh

The Ministry of Municipal, Rural Affairs and Housing, represented by the White Land and Vacant Property Fees Program, announced today, Jan., the issuance of more than 60,000 white land fee bills in the city of Riyadh.The move aligns with the directives of Crown Prince Mohammed bin Salman aimed at...

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Business & Money | Thursday 1 January, 2026 11:07 am

SABIC EGM approves transferring SAR 110.9B general reserve to retained earnings

Shareholders of Saudi Basic Industries Corporation (SABIC) approved transferring SAR 110.9 billion from the general reserve to the retained earnings account, based on the 2024 consolidated financial statements and the financials for the period ended Sept. 30, 2025. The approval was granted at...

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Business & Money | Wednesday 31 December, 2025 10:22 am

Masar inks MoU to set up private real estate fund with SAR 221M capital

Umm Al Qura for Development & Construction Co. (Masar) signed on Dec. 30 a non-binding memorandum of understanding to establish a real estate private fund. Al-Inma First Development Co. (SPV for Masar-owned Al-Inma Makkah Development Fund I) inked the deal with BIM Capital and Ajbal...

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Government | Wednesday 31 December, 2025 1:03 am

Council of Economic and Development Affairs reviews key topics, reports

The Council of Economic and Development Affairs held a meeting via video conference today, during which it reviewed a number of key topics and reports.  During the meeting, the council followed up on several procedural matters, including draft laws on general education, consumer...

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Business & Money | Wednesday 31 December, 2025 1:01 am

Ban on property trading in Central, Southern AlUla lifted

The Royal Commission for AlUla (RCU) announced today, Dec. 29, the lifting of the suspension on the sale and purchase of land and real estate in Central and Southern AlUla, enabling the resumption of property transactions.   The decision is aimed to promote comprehensive and...

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