2 Days
Source:
الاقتصادية
Saudi Real Estate Authority clarifies license distinctions
The Saudi Real Estate Authority has officially mandated that everyone wishing to advertise real estate within the Kingdom must obtain a license. This includes social media influencers, who are prohibited from posting any advertisements without the proper license. This step comes after studies and coordination with the Media Regulatory Authority, aiming to organize the real estate market and improve the quality of practices. The official also noted that the value of real estate transactions over the past three years has reached 1.6 trillion riyals, with over one million brokerage contracts and 13 million sales and rental agreements recorded. Additionally, more than 117,000 brokerage licenses have been issued. The new regulations also include classifying brokerage entities, launching a training pathway for brokers, and offering a diploma in real estate regulations and legislations in collaboration with the Institute of Public Administration.
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