The the General Real Estate Authority , in collaboration with the Ministry of Human Resources and Social Development, carried out 18 joint inspection tours during the month of April, which included visits to 237 real estate establishments in the Riyadh, Eastern, and Makkah regions. These inspections aim to ensure compliance with real estate legislation in general and the Real Estate Brokerage Regulation in particular, as well as matters related to the participating government agencies" jurisdiction regarding Saudization.
Real Estate Authority explained that fieldwork is one of the approaches it is taking to regulate the real estate market; during the same period, its inspection teams carried out 15,443 inspections of billboards and real estate offices, which resulted in the detection of a number of violations, including engaging in real estate brokerage or real estate services without a valid license, failure to exercise due diligence in verifying the accuracy of information obtained from the property owner or beneficial owner, and failure to state the licensee’s name or license number in property-related advertisements.
The Authority also received 666 real estate-related reports through its various channels, all of which were addressed and processed, while the number of electronic audits exceeded 5,236. The Authority conducts electronic monitoring targeting digital channels and real estate platforms to verify the compliance of advertisements and digital real estate brokerage practices with applicable laws and regulations.
The General Real Estate Authority called on all real estate brokers and service providers to comply with the rules and provisions of the Real Estate Brokerage Law, and to familiarize themselves with the violations to avoid penalties, which include warnings, suspension or revocation of licenses, or fines of up to 200,000 riyals. The law’s implementing regulations specify the classification of violations and the corresponding penalties.
The Authority also called on citizens and residents to file reports in the event of suspected real estate violations or fraud through the Authority’s official platform or by calling (199011) for real estate inquiries.
