REGA CEO: SAR 605 Billion Value of Real Estate Transactions During One Year of Real Estate Brokerage Law Implementation

الرئيس التنفيذي للهيئة العامة للعقار: 605 مليارات ريال قيمة المعاملات العقارية خلال عام على تطبيق نظام الوساطة العقارية

REGA CEO Engineer Abdullah bin Saud Al-Hammad stated that the Real Estate Brokerage Law drove a 17% increase in residential and commercial real estate transactions in its first year of implementation, totaling approximately 3.5 million transactions (2.9 million residential, up 18%, and 604,000 commercial, up 11%) worth over SAR 605 billion (SAR 305 billion residential, SAR 300 billion commercial). REGA documented approximately 219,000 brokerage contracts, issued 35,255 individual broker licenses and 19,735 establishment licenses, and licensed 52 real estate platforms hosting around 269,000 listings; commissions from documented transactions reached SAR 355 million. REGA conducted 58 joint supervisory campaigns, reviewed over 34,000 advertisements in field supervision, carried out more than 67,000 electronic monitoring operations, and addressed 9,100 public reports.

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