To strengthen areas of mutual cooperation, the Saudi Real Estate Institute—the academic arm of the General Real Estate Authority—recently signed a memorandum of cooperation with the Council of Saudi Chambers, represented by the National Real Estate Committee. The agreement supports all activities related to the real estate sector in the Kingdom, as part of the Institute’s efforts to develop and regulate the real estate sector and make it attractive to local and international investors, and in line with the Committee’s efforts to develop real estate services and to qualify and train Saudi youth for professions related to the real estate industry, with the aim of localizing jobs in this vital sector and meeting its needs for a national workforce.
The memorandum of cooperation was signed by the Executive Director of the Saudi Real Estate Institute, Engineer Fawzi bin Sulaiman Al-Ayuni, and the Chairman of the National Real Estate Committee, Hamad Al-Shuwaier, in the presence of the Governor of the General Real Estate Authority, Mr. Essam bin Hamad Al-Mubarak, and the Chairman of the Council of Saudi Chambers, Engineer Ahmed bin Sulaiman Al-Rajhi.
The Governor of the Real Estate Authority emphasized that the memorandum of cooperation between the National Real Estate Committee and the Saudi Real Estate Institute is in line with the General Real Estate Authority’s action plan, which aims to build partnerships and cooperation among entities involved in training and qualification to serve the real estate sector, and contributes to the localization of jobs and the improvement of service levels within the sector, in addition to helping regulate the real estate market.”
He explained that the Real Estate Institute seeks to implement the track focused on building the real estate sector’s capacity—the second of the five tracks in the Authority’s action plan—through specialized programs and courses offered by the Institute, thereby contributing to the realization of the General Real Estate Authority’s vision “to make the Saudi real estate sector attractive, dynamic, trustworthy, and innovative.”
