The General Authority for Real Estate confirmed that the Sale and Leasing of Real Estate Projects on the Map system will be effective as of Ramadan 25, 1445 AH corresponding to April 4, 2024 AD, and its executive regulations will be published in the coming period.

The General Authority for Real Estate The General Authority for Real Estate explained that the “Sale and Leasing of Real Estate Projects on the Map” system aims to regulate the activity of selling and leasing real estate projects on the map, raise the level of transparency and disclosure to ensure the protection of the rights of all parties to the contractual relationship; it also aims through its application to reduce violations in the real estate development sector on the map, and contribute with the real estate legislation system to raise investor confidence in the real estate sector in the Kingdom.

<The Authority indicated that the system of selling and leasing real estate projects on the map - which was recently published in the Umm Al-Qura newspaper - contains thirty articles. It contains thirty articles that include definitions, general provisions, compulsory licenses and registration, the competencies of the competent authority, the requirements for advertising or marketing any off-plan real estate development project, the conditions for registering a natural person in the developers" registry, the mechanism and controls for calculating and disbursing the guarantee, administrative and marketing expenses and the surplus over the total actual cost, project construction guarantees and financial statements, the mechanism for sorting and disposing of the units, and the identification of those responsible for classifying and controlling violations of the provisions of the system and the committee that decides on them and who must report violations of the provisions of the system.