{"id":67308,"date":"2024-07-18T11:19:43","date_gmt":"2024-07-18T08:19:43","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=67308"},"modified":"2025-11-26T02:58:33","modified_gmt":"2025-11-26T02:58:33","slug":"219-%d8%a3%d9%84%d9%81-%d8%b9%d9%82%d8%af-%d9%88%d8%b3%d8%a7%d8%b7%d8%a9-%d8%b9%d9%82%d8%a7%d8%b1%d9%8a%d8%a9","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/67308\/","title":{"rendered":"President of the Real Estate Authority: 605 billion riyals of real estate transactions since the implementation of the real estate brokerage system"},"content":{"rendered":"<p>The CEO highlighted<a href=\"https:\/\/t.co\/lBt1oOlnEz\"> Public Authority for Real Estate<\/a> Engineer Abdullah bin Saud Al-Hammad: The positive indicators achieved by the real estate brokerage system in terms of regulation and governance within a year of its implementation were the result of the unwavering support provided by the wise leadership \u2014may God support them\u2014to the real estate sector through a framework of legislation that has empowered it and transformed it into a dynamic sector characterized by growth and development.<\/p>\n<p>In his remarks during the opening of \u201c<strong><a href=\"https:\/\/amlak.net.sa\/en\/67292\/\">Real Estate Brokerage Forum<\/a><\/strong>\u201dLegislation governing real estate brokerage and real estate services has opened up vast opportunities for development and innovation and plays a pivotal role in the economic system and real estate transactions, as it provides a clear legal framework that safeguards the rights of all parties, and helps build trust among investors, property owners, real estate brokers, real estate service providers, and clients. It has also helped improve the efficiency of real estate brokers by regulating their practices and defining their responsibilities, and the system has achieved an estimated 17 % growth in the number of residential and commercial real estate transactions within just one year of its launch compared to the same period prior to its implementation, with the number of real estate brokerage transactions reaching nearly 3.5 million over the course of a year, including 2.9 million residential transactions\u2014an increase of 18%\u2014and 604,000 commercial transactions\u2014an increase of 11 %, with a total value exceeding 605 billion Saudi riyals, of which 305 billion were for residential transactions and 300 billion for commercial transactions. These figures reflect the volume of real estate transactions organized and regulated by the Real Estate Brokerage System.<\/p>\n<h4><span style=\"color: #800000;\">219,000 real estate brokerage contracts<\/span><\/h4>\n<p>He noted that the Authority has documented approximately 219,000 real estate brokerage contracts and issued 35,255 licenses to individual real estate brokers and 19,735 brokerage licenses to real estate firms, In addition, it licensed 52 real estate platforms; their licensing under the brokerage system helped remove more than half a million unreliable listings, as these platforms now feature 269,000 licensed real estate listings, and the value of commissions for real estate brokers from verified transactions reached 355 million Saudi riyals. Furthermore, the Authority, through the Real Estate Brokerage System, operates via four regulatory channels, including joint campaigns with relevant authorities, field inspections by the Authority\u2019s teams, electronic monitoring, and the receipt of reports, During the year since the system\u2019s implementation, inspection teams have carried out 58 joint inspection campaigns. Through field inspections by the Authority\u2019s teams, more than 34,000 real estate listings in public places were identified, and their compliance was verified and addressed, Under the electronic monitoring track, more than 67,000 electronic scans and processing operations were carried out, and 9,100 reports were received and processed.<\/p>\n<p>Engineer Al-Hammad noted that this edition of the \u201cForum\u201d is part of ongoing efforts to develop real estate brokerage services and transactions, and to build a robust and advanced real estate sector that contributes to economic growth and fulfills the aspirations of the comprehensive strategy for the real estate sector, by discussing the impact, opportunities, and challenges of real estate platforms on the future of the real estate market.<\/p>","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading time: <\/span> <span class=\"rt-time\"> 2<\/span> <span class=\"rt-label rt-postfix\">Minutes<\/span><\/span>The CEO of the General Real Estate Authority, Engineer Abdullah bin Saud Al-Hammad, highlighted the positive indicators achieved by the real estate brokerage system in terms of regulation and governance within one year of its implementation, noting that these were the result of the unwavering support provided by the wise leadership \u2014may God support them\u2014to the real estate sector through a framework of legislation that has empowered it and transformed it into a dynamic sector characterized by growth and development. Eng. \u2026 stated \u2026 <a title=\"President of the Real Estate Authority: 605 billion riyals of real estate transactions since the implementation of the real estate brokerage system\" class=\"read-more\" href=\"https:\/\/amlak.net.sa\/en\/67308\/\" aria-label=\"Read more about the Head of the Real Estate Authority: 605 billion riyals in real estate transactions since the implementation of the real estate brokerage system\">Read more<\/a><\/p>","protected":false},"author":27,"featured_media":67330,"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":[],"amlak_video_sent":"","footnotes":""},"categories":[119],"tags":[],"class_list":["post-67308","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-finance"],"acf":{"amlak_post_excerpt":"\u0627\u0644\u0646\u0638\u0627\u0645 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