For his part, Minister of Municipal and Rural Affairs and Housing Majid Al-Hogail said that the real estate market analysis controls adopted by the General Authority for Real Estate contribute to raising the efficiency and governance of the sector, adding that the controls encourage investment in the sector by controlling its information and data, enhancing its accuracy and reducing its fallacies, thus enhancing the reliability and transparency of real estate transactions.<\/p>\n\n\n\n
Mubarak: Improving the transparency of transactions in the real estate market<\/span><\/strong><\/p>\n\n\n\n Commenting on the official issuance of the regulations, Issam Hamad Al Mubarak, Governor of the General Real Estate Authority, said: \u201cThe entry into force of the regulation by publishing it in the Official Gazette on Friday, 11 Muharram 1443 AH, will, God willing, achieve the Authority's goal of regulating the real estate sector, and support the implementation plan of the comprehensive strategy for the real estate sector to govern it, empower it, increase its effectiveness, and improve the transparency of transactions in the real estate market.\u201d.<\/p>\n\n\n\n Businessmen: A long-awaited and critical decision<\/span><\/strong><\/p>\n\n\n\n A number of businessmen and workers in the field of real estate and contracting interacted with the issuance of the controls through the hashtag \u201c# Controls_Analysis_of_real_estate_markets\u201d, where \u201cOmar Al-Zaraa\u201d said \u201cOmar Al-Zaraa\u201d: \"An important and sensitive decision is long overdue to save the sector from populist analysis based on false and misleading information.\".<\/p>\n\n\n\n Saad Al-Tuwaim said: \u201cA huge qualitative leap is coming for the real estate market in Saudi Arabia, a set of regulations, legislation and solutions that will have a great impact on revitalizing investment and the labor market, perhaps our market will be one of the most distinguished markets globally in the coming years.\u201d<\/p>\n\n\n\n Khalid Al-Mubaidi added: \u201cReal estate used to be a profession for those who do not have a profession, and everyone who comes and goes gives opinions without knowledge and without reference, with the adoption of controls to analyze real estate markets, and this is in the interest of the market and the citizen, who deserves to get correct information that will benefit him in his investment.\u201c<\/p>\n\n\n\n The regulations included the commitment of the real estate market analyst to objectivity and impartiality, ensuring the accuracy and correctness of the information he provides, and not including any misleading or incompatible information or data with the real estate data and justifications that are taken into account when analyzing the real estate market, and exercising due diligence, knowledge, honesty, diligence, and disclosure of any actual or potential conflict of interest, as well as the prohibition of producing anything that may compromise the stability of the real estate market It also included that it is prohibited to produce anything that may compromise or harm the stability of the real estate market, create an effect that may cause confusion to the public or achieve a benefit to him or a third party, and prohibit the violation of intellectual property rights.<\/p>\n\n\n\n Reading time: <\/span> 2<\/span> Minutes<\/span><\/span>The Board of Directors of the General Real Estate Authority (GRA) issued, on Friday, the \u201cReal Estate Market Analysis Controls\u201d to promote the Authority's goal of regulating, supervising and developing non-governmental real estate activity; to raise its efficiency and encourage investment in it, in line with the objectives of economic and social development. \u201cAl-Haqeel\u201d: For his part, Minister of Municipal and Rural Affairs and Housing Majid Al-Hogail said that the controls of analyzing real estate markets ... 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