REGA: Over 27,000 Real Estate Licenses Issued and More Than 77,000 Brokerage Contracts Recorded in Three Months

الهيئة العامة للعقار: إصدار أكثر من 27,000 رخصة عقارية وتسجيل ما يزيد على 77,000 عقد وساطة خلال ثلاثة أشهر

The Real Estate General Authority (REGA) announced that since the implementation of the Real Estate Brokerage Law at the beginning of the current Hijri year, it has issued over 27,000 real estate "FAL" licenses for individuals and establishments, registered 77,902 brokerage contracts, issued more than 60,205 advertising licenses, and licensed 21 electronic platforms for real estate brokerage and marketing. REGA's platform has attracted approximately 363,328 users, and the authority noted that brokerage activities may only be conducted by REGA-licensed parties, covering intermediary roles including electronic brokerage, real estate marketing, property management, facility management, auctions, advertising, and consulting. Commercial registrations for real estate brokerage activities grew by 35% by the end of the third quarter of 2023 compared to the same period in 2022, according to Ministry of Commerce statistics.

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