The Board of Directors of the General Real Estate Authority held its 16th meeting, chaired by His Excellency the Minister of Municipal, Rural Affairs, and Housing, and Chairman of the Authority’s Board of Directors, Mr. Majid bin Abdullah Al-Hogail, with the aim of reviewing the most important executive actions of the comprehensive strategy for the real estate sector and implementing the Cabinet’s decision to amend the regulations of the General Real Estate Authority.

The Board discussed the implementation of the Cabinet’s decision to amend the regulations of the General Real Estate Authority, as well as the Authority’s plans to implement regulations for real estate advertisements, licensing criteria and classification of electronic real estate platforms, regulations for real estate market analysis, and the decisions, regulations, and standards issued by the Authority and the progress made on them.

10 items discussed

He addressed projects related to the four strategic pillars for regulating and governing the real estate sector, initiatives to increase market transparency, the real estate indicators platform—which now includes 79 price and non-price real estate indicators— as well as the report of the Committee for Addressing Property Registration Errors (Malakiya) for the third quarter, and the Authority’s role in building and developing human capacity in the sector through the Saudi Real Estate Institute (98) courses, which included training modules benefiting a number of trainees during the third quarter across all cities and regions of the Kingdom. The Board was also briefed on updates regarding the real estate registration system.

The meeting was attended by the acting Governor of the General Real Estate Authority and a number of officials from relevant ministries and agencies.