The Board of Directors of the General Real Estate Authority discussed the Authority’s 2020 annual report, during which it reviewed the Authority’s digital transformation program and its four electronic platforms, including (the Property Registration Errors Resolution Committee platform, the Real Estate Institute’s educational platform, the Saudi Center for Electronic Arbitration platform, and the Real Estate Indicators platform), in addition to reviewing the achievements of the Saudi Real Estate Institute, which trained 37,871 male and female trainees through 721 training courses conducted by the Institute in 2020.
This took place during the Authority’s 14th Board Meeting—held via video conference – today, chaired by Majid bin Abdullah Al-Hogail, Minister of Municipal, Rural Affairs, and Housing and Chairman of the Authority’s Board of Directors. The meeting included a presentation on the Authority’s most important work and its progress in preparing the comprehensive strategy for the real estate sector, which culminated in its approval by the Council of Ministers.
Key Figures on the Authority’s Achievements
The Board reviewed the annual report of the Committee for Addressing Property Registration Errors and the 2020 report of the Real Estate Contributions Committee, highlighting their key achievements, The report indicated that the Real Estate Contributions Committee reviewed 47 real estate contributions and received 32 new delinquent contributions arising prior to 22/8/1426 AH, and the Committee issued (459) decisions, with court rulings in 2020 awarding amounts representing shareholders" rights totaling (752,600,000 million riyals), In 2020, the Committee completed the sale of land for real estate contributions with a total area of (12,961,721.47 m²) at a total value exceeding (2,254,905,255.54 riyals).
Real estate items in the meeting minutes
The Council reviewed the measures taken by the Authority to study the challenges posed by online real estate platforms and the need to classify and supervise them; to increase trust in them, enhance transparency, protect and safeguard the rights of all users of these real estate platforms and websites, and curb misleading practices. The Council discussed issuing standards for licensing and classifying online real estate platforms, as well as regulations governing real estate advertising to curb uncontrolled practices, and clarifying the obligations and prohibitions of real estate advertising and the mechanism for supervising it.
High turnout for the virtual meeting
The meeting was attended by Prince Saud bin Talal bin Badr Al Saud, Deputy Minister of Municipal, Rural, and Housing Affairs for Housing Support and Beneficiary Services and General Supervisor of the General Directorate of Royal International Cooperation, Tariq bin Abdullah Al-Shehib, Undersecretary of the Ministry of Finance for Revenue; Dr. Hassan bin Shawki Al-Hazmi, Undersecretary of the Ministry of Municipal, Rural Affairs, and Housing for Technical Affairs; Sheikh Abdullah bin Adnan Al-Suleimi, Deputy Minister of Justice for Regulations and International Cooperation; Khalil bin Ibrahim Al-Wutban, Deputy Minister of Economy and Planning for Sectoral and Regional Development; Alaa bin Abdullah Al-Fada, Deputy Minister of Industry and Mineral Resources for Shared Services; Dr. Turki bin Abdulaziz Al-Thunayan, Advisor to the Minister of Energy for Policy and Regulations and Supervisor of the General Directorate of Legal Affairs; Engineer Muhammad bin Abdulaziz Al-Waili, Assistant Undersecretary for Support Services at the Ministry of Commerce; and the private sector representative, Managing Director and CEO of the Saudi National Bank Group, Saeed bin Mohammed Al-Ghamdi; the private sector representative, Vice Chairman of the Riyadh Chamber of Commerce, Hamad bin Ali Al-Shuwaier; and Vice Chairman of the Board of Directors and Governor of the General Real Estate Authority, Essam bin Hamad Al-Mubarak.
