The Real Estate Authority is considering issuing licensing standards for electronic real estate platforms

The Board of Directors of the General Real Estate Authority held its fourteenth meeting – via video call – today, under the chairmanship of His Excellency the Minister of Municipal and Rural Affairs and Housing, Chairman of the Authority’s Board of Directors, Mr. Majid bin Abdullah Al-Hogail.

At the beginning of the meeting, the Council reviewed the Authority’s annual report for the year 2020, which included a presentation of the authority’s most important work and the process of preparing the comprehensive strategy for the real estate sector, which culminated with the approval of the Council of Ministers. The report also reviewed the Commission’s technical transformation program and its construction during the year 2020 for four electronic platforms, including (the committee platform Addressing property registration errors, the educational platform of the Real Estate Institute, the Saudi Arbitration Center electronic platform, and the Real Estate Indicators platform), in addition to reviewing the achievements of the Saudi Real Estate Institute, which trained 37,871 trainees through 721 training courses that the Institute implemented in 2020.

The Board touched on the annual report of the Committee to Address Property Registration Errors and the Report of the Real Estate Contribution Committee for the year 2020 and its most prominent achievements, as the report clarified that the Real Estate Contribution Committee considered (47) real estate contributions, and received (32) new distressed contributions arising before 8/22/1426 AH, and issued The committee issued (459) decisions, and judicial decisions were issued in amounts representing the rights of shareholders in 2020 in amounts amounting to (752,600,000 million riyals). .

The Council reviewed the measures taken by the Authority in studying the challenges of electronic real estate platforms and the need to classify and supervise them. To increase confidence in them, raise the level of transparency, protect and preserve the rights of all those dealing with these platforms and real estate websites, and limit misleading practices, as the Council discussed issuing standards for licensing and classifying electronic real estate platforms, controls for organizing real estate advertising activity and limiting randomness in them, and clarifying the duties and prohibitions of real estate advertising. And the mechanism of supervising it.

The meeting was attended by His Excellency Deputy Chairman and Governor of the General Real Estate Authority Mr. Issam bin Hamad Al-Mubarak, His Royal Highness Prince Saud bin Talal bin Badr, Undersecretary of the Ministry of Municipal and Rural Affairs and Housing for Housing Support and Beneficiary Service, General Supervisor of the General Administration for International Cooperation, and Under-Secretary of the Ministry of Finance for Revenue Tariq bin Abdullah Al-Shuhayeb, Undersecretary of the Ministry of Municipal and Rural Affairs and Housing for Technical Affairs Dr. Hassan bin Shawqi Al-Hazmi, and the Undersecretary of the Ministry of Justice for Systems and International Cooperation Sheikh Abdullah bin Adnan Al-Sulaimi, and the Undersecretary of the Ministry of Economy and Planning for Sectoral and Regional Development Khalil bin Ibrahim Al-Watban, and the Undersecretary of the Ministry of Industry and Mineral Resources for joint services Alaa bin Abdullah Al-Fadha, and a number of government and private officials.


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