The Public Authority for Real Estate launched the new electronic platform for receiving applications for qualification and licensing for real estate contributions under the patronage and presence of His Excellency the Minister of Municipal, Rural Affairs and Housing, Chairman of the Board of Directors of the Authority, Mr. Majid bin Abdullah Al-Hogail, and His Excellency the Chairman of the Capital Market Authority, Mr. Mohammed bin Abdullah Al-Qwaiz, the new electronic platform for receiving applications for qualification and licensing for real estate contributions.

The platform will enable developers to obtain the necessary licenses to start real estate contributions. The CMA explained that the platform will enable developers to obtain the necessary licenses to start real estate contributions through electronic submission of the application for qualification or license for the real estate contribution, and that the platform will allow the creation of a unified file for the facility that saves all its information and data and enables it to view its licenses and follow up the progress of its applications, and the facility file will facilitate its retrieval of information and data to submit any future applications without the need to re-register it.

The platform will also facilitate the establishment's retrieval of information and data to submit any future applications without the need to re-register it.

Real Estate Contributions System

Abdullah bin Saud Al-Hammad, CEO of the Authority, pointed out that the real estate contributions system comes to increase the efficiency of investment in the real estate development industry, improve the real estate product that would increase the supply of commercial and residential real estate products, increase financing channels for real estate developers and investment channels for those wishing to invest, create promising investment opportunities for small and medium real estate enterprises, sustain real estate development activity and open job opportunities in the Saudi market.

Real estate contributions system.

Regulating the real estate sector

Al Hammad stressed that the electronic platform for real estate contributions comes as part of the Authority's efforts to regulate the real estate sector, digitize processes and procedures and facilitate the submission and follow-up of applications, as all processes and procedures for real estate contributions have been automated to ensure their governance and control and enhance investor confidence in the real estate sector in Saudi Arabia.

It is noteworthy that Real Estate Contributions System comes within the systems and legislations launched by the Authority to regulate the real estate sector in its various activities and practices, which contributes to providing a safe and stable real estate investment environment that has transparency and high efficiency for real estate practitioners, accelerating the pace of construction and increasing the supply of residential, commercial, investment, tourism and other real estate and creating flexible and sustainable vital communities committed to environmental and societal standards.