{"id":20531,"date":"2018-05-05T10:58:38","date_gmt":"2018-05-05T07:58:38","guid":{"rendered":"http:\/\/www.amlak.net.sa\/home\/?p=20531"},"modified":"2018-05-05T10:58:38","modified_gmt":"2018-05-05T07:58:38","slug":"%d8%a7%d9%84%d9%87%d9%8a%d8%a6%d8%a9-%d8%a7%d9%84%d8%b9%d8%a7%d9%85%d8%a9-%d9%84%d9%84%d8%b9%d9%82%d8%a7%d8%b1-%d8%aa%d8%ad%d8%af%d8%af-%d8%ae%d9%85%d8%b3%d8%a9-%d9%85%d8%b3%d8%a7%d8%b1%d8%a7%d8%aa","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/20531\/","title":{"rendered":"The General Real Estate Authority identifies five tracks to promote the real estate sector, and the Emir of Qassim praises its ambition and efforts to regulate the sector"},"content":{"rendered":"

The Real-Asset Registration Initiative was carried out with the participation of 38 government and international entities<\/b><\/span><\/p>\n

His Royal Highness Prince Faisal bin Mishaal bin Saud bin Abdulaziz, Governor of the Al-Qassim Region, praised the role played by the General Real Estate Authority in promoting the real estate sector, His Highness also commended the Authority\u2019s ambition to regulate the real estate sector, develop human resources, and encourage investment that benefits the national economy. This came during His Highness\u2019s reception of His Excellency Mr. Essam bin Hamad Al-Mubarak, Governor of the General Real Estate Authority.<\/p>\n

Five Tracks\u00a0<\/b>To achieve the Authority's objectives<\/b><\/p>\n

At the meeting, Al-Mubarak reviewed the Authority\u2019s role in regulating, growing, and developing the real estate sector, as well as its action plan for the coming period and its future role in achieving its vision of a vibrant and attractive Saudi real estate sector characterized by trust and innovation. His Excellency the Governor briefed His Highness on the projects\u00a0 <\/span>which the Authority is working to implement to regulate the non-governmental real estate sector.<\/p>\n

During another open forum organized by the Real Estate Committee of the Qassim Region Chamber of Commerce, His Excellency the Governor of the Authority provided a comprehensive explanation of the General Real Estate Authority\u2019s plans and strategies, noting that they are based on two main pillars: real estate registration and planning and approvals. Al-Mubarak added that the Authority has five action plans to achieve its objectives, namely ensuring market transparency, capacity building, stimulating investment, supporting relevant stakeholders, and oversight and enforcement.\u00a0 \u00a0<\/span><\/p>\n

Numerous and diverse initiatives<\/b><\/p>\n

Al-Mubarak revealed that the General Real Estate Authority had engaged interested parties and real estate professionals through a series of meetings and sessions, during which it outlined its initiatives to improve performance and enhance the efficiency of the real estate sector, such as the initiative to establish a real estate dispute resolution center, the initiative to establish a technical office to support the handling of real estate cases in court, and the initiative to assess the current status of real estate registration, for which six workshops on real estate registration were held with the participation of representatives from 23 government agencies, 15 private-sector entities, and international and local experts, during which a presentation was given\u00a0 <\/span>Based on international best practices and previous experience, a plan was implemented to reengineer the real-property registration procedures in order to increase efficiency, reduce processing time, and improve coordination and the division of roles among the agencies responsible for registration.<\/p>\n

8 Categories <\/b>For Real Estate Indices<\/b><\/p>\n

Regarding the strategies that have been adopted, Al-Mubarak explained that the Authority is working to enhance transparency in the real estate market\u2014the first pillar of its action plan\u2014and has begun implementing several initiatives to achieve this, the most important of which is the development of price-based and non-price-based real estate indicators. A contract was signed with the World Bank to work with a group of its experts to identify the most important real estate indicators. The joint team from the Authority and the Bank identified approximately forty indicators, which were divided into eight main categories, including sales, rental, absorption, and new construction indicators. Al-Mubarak noted that the Authority held a workshop on real estate indicators attended by international experts from the United States and South Korea, with representatives from more than 20 government and private-sector entities participating to discuss the types of indicators and data sources and to review the U.S. and South Korean experiences indata collection and index development.<\/p>","protected":false},"excerpt":{"rendered":"

Reading time: <\/span> 2<\/span> Minutes<\/span><\/span>The Real Estate Registration Initiative was carried out with the participation of 38 government and international entities. His Royal Highness Prince Faisal bin Mishaal bin Saud bin Abdulaziz, Governor of the Al-Qassim Region, praised the role played by the General Real Estate Authority in promoting the real estate sector, and commended the Authority\u2019s ambition to regulate the real estate sector, develop human resources, and encourage investment that benefits the national economy. It was reported that \u2026 Read more<\/a><\/p>","protected":false},"author":10,"featured_media":22758,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"0","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_seopress_news_disabled":"","_seopress_video_disabled":"","_seopress_video":[],"_seopress_pro_schemas_manual":[],"_seopress_pro_rich_snippets_disable_all":"","_seopress_pro_rich_snippets_disable":[],"_seopress_pro_schemas":[],"footnotes":""},"categories":[7791],"tags":[],"class_list":["post-20531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national-strategy"],"acf":{"amlak_post_excerpt":"","amlak_post_excerpt_source":{"label":"Amlak 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