The number of real estate advertisements that were scanned in Saudi Arabia to verify their compliance with the system via the electronic path reached more than 4,437 real estate advertisements.
She declared General Authority for Real Estate In Saudi Arabia, it monitored 8,990 violating real estate advertisements in public places during the current month of May.
It was implemented by the General Real Estate Authority with the participation of the Ministry of Human Resources and Social Development18 monitoring rounds It included 312 real estate facilities in the Riyadh Region, the Eastern Province, and the Makkah Al-Mukarramah Region, during the month of May, with the aim of ensuring compliance with real estate legislation in general and the real estate brokerage system in particular, in addition to the jurisdiction of the participating government agencies with regard to localization and facility licensing.
The authority explained that field work is one of the paths it is working on to regulate the real estate market, as its supervisory teams targeted during the same period to visit 14,086 different real estate facilities and sites.
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The Authority also received 679 reports through its various channels, which were dealt with and processed, while the number of real estate advertisements that were scanned to verify their compliance with the system via the electronic path reached more than 4,437
real estate advertisements, as the Authority pursues electronic monitoring that targets digital channels and real estate platforms to verify the regularity of advertisements and practices. Digital real estate brokerage in accordance with rules and regulations.
The General Real Estate Authority called on all brokers and real estate service providers to comply with the rules of real estate regulations, and to be informed of violations in order to avoid penalties, which include warnings, license suspension or cancellation, or financial fines.
#خبر | #هيئة_العقار تُنفذ 18 حملة رقابية مشتركة خلال شهر مايو لضمان الامتثال في السوق العقاريhttps://t.co/oCEP2bClwV
— الهيئة العامة للعقار (@REGA_KSA) May 31, 2024
The Authority confirmed to the Real Estate General Authority that the fine imposed can be doubled if the violation is repeated within three years of its commission, and the executive regulations of the system have specified the classification of violations and the penalties prescribed for them.
It called on citizens and residents to contact it in the event of suspicion of real estate violations, real estate fraud, or other inquiries through the communications response path through the official authority platform or by calling the number (199011).
It is noteworthy that the Vale Real Estate License is the official document that authorizes individuals and establishments to practice brokerage activities and real estate services included in the real estate brokerage system. The system aims to regulate real estate brokerage activity, provide innovative real estate services and educate beneficiaries.
The real estate brokerage system also raises the quality of real estate transactions and serves… Real estate brokers and beneficiaries, and contributes to the sustainability of real estate assets, reduces real estate disputes, preserves the rights of dealers, and increases the transparency of the real estate market.
