Category: Lending

Royal revolution in the House of Saud: Part 8, Changing the culture of resistance to change

31 December, 2015 (10:00) | Capital markets, Development, Finance, Global news, Government, Housing, Islamic finance, Land, Lending, Real estate taxes, Remittances, Saudi Arabia, sharia, Speculation, Zoning | No comments

[Continued from yesterday’s Part 7 and the preceding Part 1, Part 2, Part 3, Part 4, Part 5, and Part 6.] By: David A. Smith As established in the foregoing parts of this extensive post, though taxing ‘white lands’ (undeveloped urban property) on an ad valorem basis may have seemed to the uninformed a fiscal […]

Royal revolution in the House of Saud: Part 7, The culture of idleness

30 December, 2015 (10:00) | Capital markets, Development, Finance, Global news, Government, Housing, Islamic finance, Land, Lending, Real estate taxes, Remittances, Saudi Arabia, sharia, Speculation, Zoning | No comments

 [Continued from yesterday’s Part 6 and the preceding Part 1, Part 2, Part 3, Part 4, and Part 5.] By: David A. Smith Yesterday’s post established that the bold moves announced by King Salman within two months after his January, 2015 coronation as ruler of Saudi Arabia (and Custodian of the Two Holy Mosques) were […]

Royal revolution in the House of Saud: Part 6, The culture of not acting

29 December, 2015 (10:00) | Capital markets, Development, Finance, Global news, Government, Housing, Islamic finance, Land, Lending, Real estate taxes, Remittances, Saudi Arabia, sharia, Speculation, Zoning | No comments

[Continued from yesterday’s Part 5 and the preceding Part 1, Part 2, Part 3 and Part 4.] By: David A. Smith Though I haven’t talked with any Saudis in a year or so, I suspect that when King Salman first announced his new housing minister and the proposal to tax white lands, stakeholders were skeptical.  […]

Royal revolution in the House of Saud: Part 5, The culture of unacknowledged charity

28 December, 2015 (10:00) | Capital markets, Development, Finance, Global news, Government, Housing, Islamic finance, Land, Lending, Real estate taxes, Remittances, Saudi Arabia, sharia, Speculation, Zoning | No comments

[Continued from yesterday’s Part 4 and the preceding Part 1, Part 2, and Part 3.] By: David A. Smith As established in earlier posts, King Salman’s January ascension to the throne of Saudi Arabia, after the death of his elder brother King Abdullah, has been transformative of Saudi policy broadly, and definitely in the realm […]

Royal revolution in the House of Saud: Part 4, The culture of rentiers

24 December, 2015 (10:00) | Capital markets, Development, Finance, Global news, Government, Housing, Islamic finance, Land, Lending, Real estate taxes, Remittances, Saudi Arabia, sharia, Speculation, Zoning | No comments

[Continued from yesterday’s Part 3 and the preceding Part 1 and Part 2.] By: David A. Smith As we saw in yesterday’s Part 3, the trouble with oligarchy lies not necessarily in its culture of exclusion but rather in its deeply embedded culture of stasis: any reform will be resisted because at least 10% of […]