Abdullah bin Saud Al-Hammad, CEO of the General Real Estate Authority, said that the real estate contributions system comes to raise the efficiency of investment in the real estate development industry, improve the real estate product that will 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, in addition to creating 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

Real Estate Contributions System

Electronic Platform for Real Estate Contributions

In a tweet posted on his account on the social networking site “X”, Al-Hammad confirmed 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 the confidence of investors in the real estate sector in Saudi Arabia.

Receiving applications for qualification and licensing for real estate contributions

Under the patronage and presence of Majid bin Abdullah Al-Hogail, Minister of Municipal, Rural Affairs and Housing and Chairman of the Authority's Board of Directors, and Mohammed bin Abdullah Al-Qwaiz, Chairman of the Capital Market Authority, launched the new electronic platform to receive applications for qualification and licensing for real estate contributions.

The General Authority for Real Estate has launched the new electronic platform to receive applications for qualification and licensing for real estate contributions. The CMA explained that the platform will enable developers to obtain the necessary licenses to start the real estate contribution business through the 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 establishment that saves all its information and data and enables it to view its licenses and follow the progress of its applications, and the establishment's 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. It is noteworthy that the 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, increasing the supply of residential, commercial, investment, tourism and other real estate, and creating vibrant communities that are flexible, sustainable and committed to environmental and community standards.

The Real Estate Contributions System is part of the systems and legislations launched by the Authority to regulate the real estate sector in its various activities and practices.