The Real Estate General Authority continues to correct and regulate the conditions of brokerage practitioners and real estate service providers by issuing licenses free of charge and without the condition of passing the qualifying program, before the end of the corrective period for the real estate brokerage system on Dhu al-Hijjah 30 1444 AH corresponding to July 18, 2023.
The authority granted the corrective deadline based on its role in stimulating real estate brokerage activity and enabling real estate practitioners to continue their work in accordance with the real estate brokerage system, which requires brokerage practitioners and real estate service providers to obtain the necessary licenses to practice the activities specified in the system.
The real estate brokerage system, which entered into force at the beginning of this year, includes seven main activities that are subject to its provisions, namely: (real estate brokerage, real estate marketing, property management, facilities management, real estate auctions, real estate advertisements, real estate consultations and analyses), and the work of individuals is limited to four of them. Only: brokerage, marketing, advertising, consultancy and real estate analysis.
Individuals wishing to practice these activities are required to obtain a special license to practice the activity and its requirements, pass the qualifying program for each activity, and pay the financial fee for the license, except for the license to practice marketing and real estate advertisements, and register on the Authority’s electronic services platform.
In a related context, the Authority organized introductory pavilions for the real estate brokerage system in a number of commercial markets in the cities of Riyadh, Jeddah and Al-Khobar. Finance and real estate development, and it will participate in the exhibition by introducing the services it provides to beneficiaries and workers in the real estate sector, such as the real estate brokerage system, the FAL license, and the real estate registry, in which field works will begin in Riyadh on the 17th of next Shawwal.
During her participation, she will review the platforms and programs she supervises, such as the Saudi Real Estate Institute, the Mollak program, the real estate unit sorting program, the rental program, the Saudi Center for Real Estate Arbitration, and other services.
The exhibition aims to provide a complete journey for the beneficiary by facilitating communication with developers and contractors and providing them with the necessary consultations, in addition to holding workshops and launching real estate investment funds and presenting the most important real estate projects for developers, financing opportunities and developments in modern construction techniques and methods in the field of construction, construction and the latest findings. Technologies to serve the beneficiaries of housing seekers from Saudi families and visitors with the aim of increasing the real estate supply and raising the percentage of residential ownership.