The Shura Council agreed to refer the proposal to establish an independent real estate authority and link it directly to the Prime Minister to the secretariat in preparation for its inclusion on the agenda of the weekly sessions for discussion and approval.<\/p>\n
It is worth mentioning that the Council's Housing Committee had recommended in a report the suitability of the proposal for study. The report also included the current status of real estate and its negatives and the need to establish a public authority for real estate. It also included a study by the National Real Estate Committee that showed the motives for establishing the authority and the beneficiaries of the organization of the real estate industry and the positive effects thereof, in addition to the proposed form and organization.<\/p>\n
There is a need for an independent real estate authority to unify the efforts and authorities responsible for the real estate sector in one body to facilitate the real estate development process and work in a holistic and effective manner. It can also work to develop regulations, legislation and procedures related to the real estate sector, organize real estate contributions and follow up on those who are in default, and contribute with the Ministries of Housing and Municipal Affairs in developing appropriate solutions to provide adequate housing as the population and economy continue to grow.<\/p>","protected":false},"excerpt":{"rendered":"
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