Al-Baha gets real estate qualification certificate

07/03/2024 Argaam
Logo ofAl-Baha Investment and Development Co.

Logo of Al-Baha Investment and Development Co.

Al-Baha Investment and Development Co. received today, March 7, the “Qualification Certificate of the Real Estate Developer” from the Ministry of Municipal and Rural Affairs and Housing, represented by the Developers Services Center (Etmam), passing the prequalification criteria, the company said in a statement on Tadawul.

 

Having obtained this certificate, Al-Baha will be exempt from real estate tax supplies, as per Royal Decree No. A/84. It will be able to develop land plots, residential projects, and mixed-use land directly rather than through other residential developers. This is besides being able to launch off-plan sales and lease real estate assets, it added.

 

This certification is expected to broaden the company’s strategy, enabling exclusive operations or partnerships with the Ministry of Housing and other real estate developers locally, regionally, and internationally.

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