{"id":54817,"date":"2023-03-01T20:17:04","date_gmt":"2023-03-01T17:17:04","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=54817"},"modified":"2023-03-01T20:17:04","modified_gmt":"2023-03-01T17:17:04","slug":"%d9%87%d9%8a%d8%a6%d8%a9-%d8%a7%d9%84%d8%b9%d9%82%d8%a7%d8%b1-%d8%aa%d8%b5%d8%af%d8%b1-148-%d8%a3%d9%84%d9%81-%d8%b1%d8%ae%d8%b5%d8%a9-%d9%88%d8%aa%d8%b9%d8%aa%d9%85%d8%af-%d9%81%d8%a7%d9%84","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/54817\/","title":{"rendered":"The Real Estate Authority issues 148 thousand licenses and adopts \u00abVal\u00bb for real estate brokerage and services licenses"},"content":{"rendered":"

Announced Public Authority for Real Estate<\/a><\/strong><\/span>On Wednesday, it launched the name \u201cVal Real Estate License\u201d for real estate licenses to practice real estate brokerage activities and services included in the real estate brokerage system.<\/p>\n

More than 148,000 real estate licenses have been issued to establishments and individuals since the system came into effect on January 18, and all licenses were automatically changed to the name that was announced today, said Taysir Al-Mufaraj, the authority's spokesperson, noting that the \u201cVal Real Estate License\u201d is five licenses for the practitioner and a sixth license for real estate advertising.<\/p>\n

He explained that 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.<\/p>\n

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 third parties; the Val Facilities Management License is a special license for establishments that entitles the establishment to manage the technical affairs of the property on behalf of third parties; the Val Auction Management and Organization License is a license that entitles the establishment to undertake the tasks of offering real estate for sale by public auctions, including online real estate auctions; the Val Real Estate Consulting and Analysis License is a license that enables establishments and individuals to provide analyses, consultations and opinions related to the real estate sector.<\/p>\n

Al Mufaraj explained that it is a license for the same advertisement regardless of the practitioner's license, which is a license to publish visual, audio, print and electronic advertisements for the purpose of disposing of real estate, whether through television, radio, roads, printed newspapers, electronic platforms, social media and other means, and that under (VAL License for Real Estate Brokerage and Marketing) the broker is authorized to practice the activity and requires him to issue a license for each advertisement according to a form approved in the electronic services platform of the General Real Estate Authority available in multiple systems for issuing if he will advertise himself, and in the case of.<\/p>\n

Al-Mufaraj added that during this period, the Authority allowed the issuance of all licenses except for the real estate auction license and the real estate consulting and analysis license, which will be announced during the coming period after completing their regulatory requirements and purification, as regulations will be issued for these activities.<\/p>\n

On the other hand, the spokesperson emphasized Public Authority for Real Estate<\/a><\/strong><\/span> All practitioners should take advantage of the corrective period and complete the training requirements for licenses, as all licenses issued or to be issued during this period will be valid until the compliance start date of 30 Dhul Hijjah 1444 AH corresponding to July 18, 2023 AD.<\/p>\n

It is noteworthy that Public Authority for Real Estate<\/a><\/strong><\/span> We have previously announced that the Royal Decree enforcing the Real Estate Brokerage Law allows current real estate practitioners working in the fields of brokerage and real estate services to organize and correct their status for a period of six months (180 days) - a corrective period - that started on January 18, and that the services related to issuing the necessary licenses to practice real estate brokerage and marketing activity are available without financial compensation and training requirements throughout the period of correcting the situation.<\/p>","protected":false},"excerpt":{"rendered":"

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