REGA: License Applications for Real Estate Contributions Begin in January

الهيئة العامة للعقار: استقبال طلبات تراخيص المساهمات العقارية يبدأ في يناير

The Real Estate General Authority (REGA) announced that it will begin receiving license applications for real estate contributions starting January, with application procedures to be announced through a dedicated electronic platform. REGA called on government entities, private sector participants, and other interested parties to submit feedback on the draft Implementing Regulations for the Real Estate Contributions Law, published on the "Istatlaa" platform, before the consultation period closes on 20 November 2023. The draft regulations comprise thirty-six articles covering areas including licensing conditions and procedures, capital provisions, subscription mechanisms, developer obligations, shareholders' assembly rules, and REGA's supervision and violation-control procedures.

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