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Saudi restricts Riyadh Landlords to increase rents for five years

In June, Saudi Minister of Municipal Rural Affairs and Housing Majed bin Abdullah Al-Hogail pointed to the high demand for housing, saying “a city like Riyadh needs between 120,000 and 130,000 housing units annually to enter the market”.

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Saudi authorities announced on Thursday a five-year freeze on rent for residential and commercial properties in Riyadh, where demand for housing has soared as the kingdom’s ambitious megaprojects draw workers to the city.

Riyadh, the capital of the Middle East’s largest economy, is home to more than 8.6 million people, nearly half of them foreigners.

Many have converged on the city to work on multi-billion dollar projects as part of the Vision 2030 plan launched by Saudi Crown Prince Mohammed bin Salman, seeking to diversify the country’s economy away from oil.

The General Authority for Statistics reported in August a 7.6 percent year-on-year increase in residential rent prices.

The official Saudi Press Agency (SPA) said the crown prince had issued orders “in response to the challenges the capital has witnessed in recent years regarding rising residential and commercial rents”.

The ensuing cabinet decision and royal decree suspended “the annual increase in the total rent value in residential and commercial property leases… located within the urban area of Riyadh for a period of five years”.

“The landlord may not increase the total rent value of the property agreed upon in existing or new contracts” as of Thursday, it added.

Low-rise buildings and villas make up the majority of housing units in Riyadh, where construction has boomed.

In June, Saudi Minister of Municipal Rural Affairs and Housing Majed bin Abdullah Al-Hogail pointed to the high demand for housing, saying “a city like Riyadh needs between 120,000 and 130,000 housing units annually to enter the market”.

In April, Saudi authorities increased annual fees on undeveloped land in Riyadh to 10 percent of the property’s value, in a bid to encourage residential construction.

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International

South Africa Anti-Immigration Peaceful Protests To Continue Weekly Till Demands Are Met

A senior reporter, Channel, Africa, Nhlanhla Mahlangu, reported that the anti-immigration protests held across several South African cities remained largely peaceful despite isolated incidents of violence and attempted looting.

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The organisers of South Africa anti-immigrant protest have announced that come next week, from Thursday, every Thursday, they will be taking to the streets until the government heeds to their call and ensure that all undocumented nationals leave the country.

A senior reporter, Channel, Africa, Nhlanhla Mahlangu, reported that the anti-immigration protests held across several South African cities remained largely peaceful despite isolated incidents of violence and attempted looting.

She also revealed that organisers intend to continue with weekly demonstrations from next Thursday until their demands are met.

Mahlangu further reported that an inter-ministerial committee comprising ministers within South Africa’s security cluster commended the largely peaceful conduct of the protests while condemning isolated incidents of violence reported across the country.

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Cut Petrol Prices Now, Trump orders Retailers

Trump warned that his administration would not tolerate price gouging, describing the practice as illegal and cautioning retailers that those who ignore the call to lower prices could face “big problems

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United States President Donald Trump has directed gasoline retailers across the country to reduce pump prices without delay.

Trump issued the directive in a post on his Truth Social platform, accusing fuel retailers of keeping prices unnecessarily high despite crude oil trading at about $68 per barrel.

“Gasoline retailers must get their prices down immediately”, the president declared, urging companies to “do what they know is right” by passing lower costs on to consumers.”

He argued that declining global crude oil prices should translate into immediate relief for American motorists.

Trump warned that his administration would not tolerate price gouging, describing the practice as illegal and cautioning retailers that those who ignore the call to lower prices could face “big problems.”

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JUST IN: Third Batch of Evacuated Nigerians from SA Arrives in Lagos Amid Xenophobia Fears

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A fresh group of Nigerians evacuated from South Africa has landed safely in Lagos as the Federal Government continues its voluntary repatriation exercise amid heightened anti-immigrant tensions in the country.

The Air Peace flight carrying approximately 271 returnees touched down at the Murtala Muhammed International Airport (MMIA) in Lagos on Tuesday morning, shortly before 11 a.m. This marks the third major batch in the ongoing operation.

Officials from the National Emergency Management Agency (NEMA), Nigeria Immigration Service (NIS), Nigerians in Diaspora Commission (NiDCOM), and other relevant agencies were on ground to receive the evacuees, who will undergo documentation, profiling, and medical checks before reintegration support.

The latest flight departed Johannesburg late Monday night / early Tuesday, following an earlier departure from Nigeria. It forms part of President Bola Tinubu administration’s efforts to ensure the safety and welfare of citizens choosing to return home voluntarily.

Prior batches included around 258-268 returnees who arrived on June 11 and 66 more on June 25, bringing the cumulative total to over 500 before today’s arrival. The government has indicated plans for additional flights to accommodate more registered Nigerians wishing to leave South Africa.

The evacuations come ahead of and in response to planned anti-migrant protests in South Africa on June 30, with reports of over 15,000 Nigerians still potentially interested in returning amid fears of xenophobic attacks, looting, and harassment.

The Ministry of Foreign Affairs has urged remaining Nigerians in South Africa to stay vigilant, maintain contact with the Nigerian High Commission, and take advantage of available evacuation support where needed. Officials continue to monitor the situation closely while providing consular assistance.

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