The General Authority for Real Estate announced the qualification of 80 real estate developers for a real estate contribution license, in addition to a real estate contribution license in Madinah, following the implementation of the new real estate contribution system, which was recently approved by the Council of Ministers, which will contribute to increasing the supply of commercial and residential real estate products as a new financing and investment channel for real estate developers.
The General Authority for Real Estate announced that it has qualified 80 real estate developers for a real estate contribution license, in addition to a real estate contribution license in Madinah. The The Real Estate Authority pointed out that the qualification of real estate developers to practice real estate contribution activity came after they met the qualification requirements, which is a condition when applying for a real estate contribution license, and that obtaining the qualification certificate for the real estate contribution license will enable them to apply for a real estate contribution license for the real estate project in accordance with the requirements of the system and its executive regulations, which contributes to accelerating the pace of construction and increasing the supply of residential, commercial, investment, tourism and other real estate and creating vibrant communities that are flexible, sustainable and committed to environmental standards and environmental standards. <The Authority confirmed that its license for the first real estate contribution, and the approval of the public offering of real estate contribution certificates from the Capital Market Authority, comes after the accelerated stages that the system has gone through since its approval by the Council of Ministers recently, and announced the draft system and its executive regulations to express public views, until the entry into force of the system and receiving applications to qualify for the license to practice real estate contribution activity through the training program provided by the Saudi Real Estate Institute, adding that the real estate contribution (Amlak 2) licensed by the General Authority for Real Estate, whose certificate was approved by the Capital Market Authority for public offering, with a capital of Y She pointed out that the legislation and regulation of real estate contributions will play a role in enhancing the confidence of investors in the real estate sector in the Kingdom through the rules and provisions of the system that preserve the rights of all parties, and will eliminate the practice of random and irregular real estate contributions, and the governance of control and compliance work. The system will allow the creation of promising investment opportunities for small or medium enterprises in the real estate market, and provide a new and reliable real estate investment vessel to achieve the objectives of creating a promising developmental and economic environment in the Kingdom.
The training track is designed to support the real estate sector in the Kingdom. It is noteworthy that the training path for the real estate contributions license comes according to high standards in the preparation of technical and scientific content to ensure that participants obtain the appropriate qualification to practice the activity and raise the level of awareness of the related work. More information about real estate contributions can be found at http://s.rega.gov.sa/QB3, and those wishing to join the training program can apply for registration through the official website of the Saudi Real Estate Institute https://srei.sa/ .
