{"id":57922,"date":"2023-07-20T11:16:07","date_gmt":"2023-07-20T08:16:07","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=57922"},"modified":"2023-07-20T11:16:07","modified_gmt":"2023-07-20T08:16:07","slug":"%d9%86%d8%b8%d8%a7%d9%85-%d8%a7%d9%84%d9%85%d8%b3%d8%a7%d9%87%d9%85%d8%a7%d8%aa-%d8%a7%d9%84%d8%b9%d9%82%d8%a7%d8%b1%d9%8a%d8%a9-4","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/57922\/","title":{"rendered":"Amlak publishes a panorama of the Real Estate Contributions Law The most important articles"},"content":{"rendered":"

The Cabinet's decision to approve the Real Estate Contributions Law<\/a><\/strong><\/span>Mr. Majid Al-Hogail, Minister of Municipal and Rural Affairs and Housing and Chairman of the General Authority for Real Estate, said that the system aims to open new financing channels for investors in the field of real estate development, and regulates the procedures for launching, managing and liquidating real estate contributions, and contributes to increasing the supply of developed real estate products to keep pace with the increase in demand, especially in the residential sector.<\/p>\n

Minister of Finance Mohammed Abdullah Abdulaziz Al-Jadaan noted that the approval of the system comes as an important step in increasing financing and investment channels in the real estate sector, along with real estate funds.<\/p>\n

The Secretary General of the Real Estate Contributions Committee, Dr. Badr Al-Shuwaier, explained the main objectives of the system, which are to increase transparency, reduce the failure of real estate contributions, and create large and distinctive investment opportunities.<\/p>\n

Meanwhile, Taysir al-Mafraj, a spokesman for the General Real Estate Authority<\/a><\/strong><\/span>The system provides another investment channel other than the investment funds that used to regulate this investment under the management of the Capital Market Authority, adding that the system will enhance governance and transparency in the real estate market.<\/p>\n

==========<\/p>\n

Real Estate and Capital Market Authorities Approval The most important requirements<\/strong><\/span><\/h3>\n

The Real Estate Contributions Law requires obtaining a license from the General Real Estate Authority and the approval of the Capital Market Authority before offering a real estate contribution.<\/p>\n

According to the law, the General Authority for Real Estate is in charge of regulating the activity of real estate contributions, through which it will issue licenses, classify real estate contributions according to size, type or location, set appropriate conditions, requirements and time periods for real estate contributions according to their classification, and set conditions for qualifying and classifying real estate developers for the purpose of offering real estate contributions and conditions for qualifying and classifying practitioners of real estate contribution activity.<\/p>\n

The new system also stipulates that the real estate subject of the real estate contribution must be owned under a valid title deed, whose integrity is proven, based on a statement from the authority that issued it, and that the real estate subject of the real estate contribution must have the necessary approvals for its development from the competent authorities, as specified in the executive regulations of the system, which will be issued by the General Authority for Real Estate during the coming period.<\/p>\n

==== =====<\/p>\n

Key Articles of the New Real Estate Contributions Law<\/strong><\/span><\/h3>\n

Monitoring: Falah Alsubaie<\/strong><\/p>\n

1- Obtaining a license from the Public Authority for Real Estate and approval from the Capital Market Authority to offer the shareholding.<\/p>\n

2- The land must be owned by a valid legal deed, based on the statement of the issuing authority.<\/p>\n

3- The existence of a land planning approval with an official statement from the competent authority.<\/p>\n

4- The percentage of the licensee must not be less than the percentage specified by the regulation.<\/p>\n

5- Qualifying and classifying licensees to practice real estate contributions.<\/p>\n

6- Limit the real estate contribution to a period of time.<\/p>\n

7- Return all amounts to contributors without deductions when the subscription period expires without completing the full value of the real estate contribution.<\/p>\n

8- The Capital Market Authority (CMA) will organize the shareholders' registry for the real estate contribution.<\/p>\n

9- The licensee's responsibility for all matters related to the real estate contribution towards the shareholder, the Authority, the Capital Market Authority, and other related parties.<\/p>\n

10- Depositing the amounts of cash contributions to the real estate contribution and the financial returns in a special bank account for the contribution called the \u201cescrow account\u201d.<\/p>\n

11- The real estate contribution certificate has the force of evidence before the judiciary, and can only be challenged by forgery.<\/p>\n

12- Appointing a chartered accountant and an engineering consultant for each real estate contribution.<\/p>\n

13- Forming an association of all shareholders registered in the shareholders\u201c register called the \"Shareholders' Association\".<\/p>\n

14- Real estate assets shall not be sold until they are evaluated by certified appraisers.<\/p>\n

15. Violators of the provisions of the Law shall be punished by: A warning, suspension of the license for a period not exceeding one year, revocation of the license, or a fine of up to 10 million riyals.<\/p>\n

16- The General Authority for Real Estate is responsible for the draft real estate contributions system: Control and supervision, issuing, amending and revoking licenses, issuing conditions, etc. in order to achieve its regulatory and legislative role in order to raise the efficiency of the real estate market.<\/p>\n

=== == === =<\/p>\n

Real Estate Contributions Law<\/strong><\/span><\/h4>\n

===<\/p>\n

120 days<\/p>\n

on the issuance of the system's executive regulations<\/strong><\/p>\n

===\u00a0 ==\u00a0 <\/strong><\/p>\n

Terms<\/strong><\/span><\/p>\n

A special program to qualify and classify real estate developers for the purpose of offering real estate contributions.<\/p>\n

== ===<\/p>\n

Controls<\/span><\/strong><\/p>\n

To regulate the work and classification of practitioners<\/p>\n

==== ==<\/p>\n

Real Estate Contributions Law<\/strong><\/span><\/h4>","protected":false},"excerpt":{"rendered":"

Reading time: <\/span> 2<\/span> Minutes<\/span><\/span>The Cabinet's decision to approve the Real Estate Contributions Law has been widely praised and welcomed within the real estate sector, as Mr. Majid Al-Hogail, Minister of Municipal and Rural Affairs and Housing and Chairman of the Real Estate Authority, said<\/p>","protected":false},"author":10,"featured_media":31674,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"0","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","footnotes":""},"categories":[104],"tags":[],"class_list":["post-57922","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislation-and-regulations"],"acf":{"amlak_post_excerpt":"","amlak_post_excerpt_source":{"label":"Amlak post excerpt","type":"text","formatted_value":""}},"featured_image_urls":{"full":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/07\/\u0627\u0644\u0631\u064a\u0627\u0636-\u0645\u0634\u0647\u062f-\u062d\u0636\u0631\u064a.jpg",750,500,false],"thumbnail":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/07\/\u0627\u0644\u0631\u064a\u0627\u0636-\u0645\u0634\u0647\u062f-\u062d\u0636\u0631\u064a-150x150.jpg",150,150,true],"medium":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/07\/\u0627\u0644\u0631\u064a\u0627\u0636-\u0645\u0634\u0647\u062f-\u062d\u0636\u0631\u064a-300x200.jpg",300,200,true],"medium_large":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/07\/\u0627\u0644\u0631\u064a\u0627\u0636-\u0645\u0634\u0647\u062f-\u062d\u0636\u0631\u064a.jpg",750,500,false],"large":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/07\/\u0627\u0644\u0631\u064a\u0627\u0636-\u0645\u0634\u0647\u062f-\u062d\u0636\u0631\u064a.jpg",750,500,false],"1536x1536":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/07\/\u0627\u0644\u0631\u064a\u0627\u0636-\u0645\u0634\u0647\u062f-\u062d\u0636\u0631\u064a.jpg",750,500,false],"2048x2048":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/07\/\u0627\u0644\u0631\u064a\u0627\u0636-\u0645\u0634\u0647\u062f-\u062d\u0636\u0631\u064a.jpg",750,500,false],"trp-custom-language-flag":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/07\/\u0627\u0644\u0631\u064a\u0627\u0636-\u0645\u0634\u0647\u062f-\u062d\u0636\u0631\u064a.jpg",18,12,false],"event-thumbnail":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/07\/\u0627\u0644\u0631\u064a\u0627\u0636-\u0645\u0634\u0647\u062f-\u062d\u0636\u0631\u064a-300x200.jpg",300,200,true],"event-medium":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/07\/\u0627\u0644\u0631\u064a\u0627\u0636-\u0645\u0634\u0647\u062f-\u062d\u0636\u0631\u064a-600x400.jpg",600,400,true],"event-large":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/07\/\u0627\u0644\u0631\u064a\u0627\u0636-\u0645\u0634\u0647\u062f-\u062d\u0636\u0631\u064a.jpg",750,500,false],"event-hero":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/07\/\u0627\u0644\u0631\u064a\u0627\u0636-\u0645\u0634\u0647\u062f-\u062d\u0636\u0631\u064a.jpg",750,500,false]},"author_info":{"info":["\u0627\u0645\u0644\u0627\u0643 \u0627\u0644\u0639\u0642\u0627\u0631\u064a\u0629"]},"category_info":"\u0627\u0644\u062a\u0634\u0631\u064a\u0639\u0627\u062a \u0648\u0627\u0644\u0623\u0646\u0638\u0645\u0629<\/a>","tag_info":"\u0627\u0644\u062a\u0634\u0631\u064a\u0639\u0627\u062a \u0648\u0627\u0644\u0623\u0646\u0638\u0645\u0629","comment_count":"0","_links":{"self":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/57922","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/comments?post=57922"}],"version-history":[{"count":0,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/57922\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media\/31674"}],"wp:attachment":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media?parent=57922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/categories?post=57922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/tags?post=57922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}