The General Authority for Real Estate announced the issuance of more than 11 thousand real estate VAL licenses during the first quarter of 2024 through the Authority's electronic platform; bringing the total active licenses issued by the Authority since the implementation of the real estate brokerage system to more than 46 thousand licenses, including 64% for individuals and 36% for establishments.
5 sections in the VAL license
The Real Estate Authority explained that “<a href=”https://amlak.net.The Val Real Estate License includes a package of licenses, namely five licenses for individuals and establishments, and a sixth license for real estate advertising, and the VAL license is an official document that authorizes individuals and establishments to practice the real estate activity specified in the license; where the VAL license for real estate brokerage and marketing authorizes individuals and establishments to practice the activities of mediating a real estate transaction between two parties in exchange for a commission, and marketing the property whether through advertising means or direct marketing in offices, exhibitions and others, while the VAL Property Management License is a special license for establishments that entitles the establishment to manage the financial and administrative affairs of the property on behalf of the client. The VAL Property Management License is a special license for establishments that entitles the establishment to manage the technical affairs of the property on behalf of others, in addition to the VAL Auction Management License for establishments, which is a license that entitles the establishment to undertake the tasks of offering real estate for sale by public auctions, including electronic real estate auctions, while the VAL Consulting License and the VAL Real Estate Analysis License are licenses that enable establishments and individuals to provide real estate analysis and consultations and opinion related to the real estate sector to the public through any media or a beneficiary of the service.
The Authority developed the real estate brokerage platform and added many improvements, which will contribute to the ease and speed of procedures, improve the customer experience, and preserve the rights of beneficiaries from the real estate sector, as it allowed all beneficiaries to renew their license 120 days before its expiration, which contributes to their continued practice of real estate activities before the expiration of the license.
It is noteworthy that the General Authority for Real Estate carries out awareness-raising field visits in addition to joint monitoring field campaigns on real estate establishments with the relevant authorities, in addition to the electronic monitoring track that targets electronic channels and real estate platforms to verify the regularity of advertisements and digital brokerage practices.
Notably, the General Authority for Real Estate carries out awareness-raising field visits in addition to joint monitoring field campaigns on real estate establishments with the relevant authorities.
