Efforts to make home ownership in Saudi Arabia more accessible and galvanise activity across the building, services and financial industries received a boost last month with the launch of a new programme of funding and incentives.
Efforts to make home ownership in Saudi Arabia more accessible and galvanise activity across the building, services and financial industries received a boost last month with the launch of a new programme of funding and incentives.
A new wave of reforms including higher shareholding ceilings and lower asset requirements has opened the door wider to foreign investors looking to buy into Saudi Arabia’s capital markets.
Saudi Arabia laid the foundations for a major overhaul of the national economy in 2017, with the government taking steps to privatise key state assets and stimulate investment, as part of long-term plans to diversify the economy.
Saudi Arabia is furthering plans to create the world’s largest sovereign wealth fund and use it as a vehicle for driving economic growth, a move that will have a far-reaching impact on regional and global markets.
Last month Saudi Arabia’s General Authority of Zakat and Tax (GAZT) released the final implementing regulations to legislation governing the new GCC-wide value-added tax (VAT).
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