The Shura Council decided yesterday to vote on draft Real Estate Brokerage Law in next Monday’s session, and will first hear from Committee Chairman Ayman Fadel regarding the committee’s views on members" comments regarding the regulation, which consists of 24 articles. The regulation aims to fill the legislative gap, keep pace with current developments, and enhance the attractiveness of the industry, addressing issues and obstacles, and defining the obligations of parties involved in real estate brokerage to ensure the rights of all parties. The draft regulation also governs the mechanism for obtaining a license to practice the activity, The regulation seeks to achieve a number of financial and economic impacts and create an attractive investment environment, which will have a significant impact on increasing the number of practitioners in the sector, resulting in an increase in supply and demand in the real estate sector.

The Shura Council is discussing the report of the Trade and Investment Committee regarding the proposal to repeal the regulations governing the practice of facilitating transactions with government agencies, as well as the report of the Water, Agriculture, and Environment Committee regarding a proposed system for the circulation, treatment, and use of electronic and electrical waste and used mechanical equipment.