REGA Issues Real Estate Contributions Implementing Regulations and Announces Start of License Applications

الهيئة العامة للعقار تُصدر اللائحة التنفيذية لنظام المساهمات العقارية وتُعلن بدء استقبال طلبات التراخيص

The Real Estate General Authority (REGA) announced the issuance of the implementing regulations for the Real Estate Contributions Law, published on Friday, 6 Sha'ban 1445 AH, corresponding to 16 February 2024, on REGA's official website and in Umm Al-Qura newspaper, and issued in coordination with the Capital Market Authority. The regulations comprise forty main articles across six chapters covering licensing procedures, capital provisions, activity practitioners, shareholders' assembly responsibilities, profit distribution and liquidation, and supervision and control. REGA simultaneously published escrow account controls for real estate contributions, consisting of seven articles governing account opening, management, disbursement, and closure. REGA confirmed that applications for Real Estate Contributions licenses are now open through its electronic services platform.

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