16 Hrs
Source:
الاقتصادية
Saudi Real Estate Authority seeks feedback on Facility Classification Guide
The Saudi General Authority for Real Estate has released two draft guides for classifying real estate establishments, aiming to enhance the effectiveness of the real estate sector and boost the confidence of clients and investors. The first guide focuses on classifying real estate brokerage and marketing establishments, covering criteria such as years of experience, number of transactions and violations, training courses, and localization efforts. The second guide pertains to classifying auction firms, evaluating performance based on years of experience, the percentage of Saudi nationals, the number of auctions held, and the value of the properties auctioned, with ratings from first to fifth and the provision of benefits and incentives for each category. The survey, which concludes on October 30, aims to provide an opportunity for the public, government entities, and the private sector to review and offer feedback on the drafts.
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