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Mabanee’s Saudi arm sign SAR 1.1 bn contracts for five towers in The Avenues Riyadh
PLUS: The SAR gets an official currency symbol
Rett law’s executive regulations up for public consultation
All real estate transactions will be subject to a 5% tax under the proposed law
Foreign investors can now buy shares of listed companies with real estate assets in the holy cities
They are limited to a 49% maximum stake
Capital market brokerages to see greater flexibility under new amendments
The proposed amendments will be up for public consultation on Istitlaa until Thursday, 20 February
Fresh regulations for customs clearance procedures
The regs outline pre-clearance and post-arrival clearance procedures for maritime ports
Fresh regs for customs consultancies licensing
Applicants must have a minimum of three years of experience
Breaking down amendments to the Saudi-foreign business councils regs
A new advisory committee will be established — chaired by the president of the Federation of Business Councils
Fresh capital rules for recruitment companies
Companies will be granted licenses with validity periods of either 5 or 10 years
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