Al-Hogail Thanks the Leadership for the Council of Ministers’ Approval of the Real Estate Brokerage Law

AI Chatbot

chat boot logo
Generic Chatbot
How can I help you?"
AI bot icon
الحقيل يشكر القيادة على موافقة مجلس الوزراء على نظام الوساطة العقارية

Minister of Municipalities and Housing and Chairman of the Real Estate General Authority, Mr. Majed bin Abdullah Al-Hogail, extended his gratitude to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and to His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister – may Allah protect them – on the occasion of the Council of Ministers’ approval of the Real Estate Brokerage Law.

He emphasized that the Real Estate Brokerage Law represents a qualitative leap for the Kingdom’s real estate sector, as it aims to regulate real estate brokerage and related services, reduce disputes arising from brokerage activities, support governance of real estate transactions, and grant brokerage contracts reliability and legal standing in judicial proceedings.

Al-Hogail explained that the law covers all real estate activities and services, and is practiced exclusively by those licensed and qualified by the Real Estate General Authority. He noted that the beneficiaries of this law include real estate brokerage firms, brokers, marketers, auctioneers, property and facility managers, real estate advertisers, consultants, analysts, as well as government and private sectors connected to real estate marketing and brokerage activities — including the Ministries of Commerce, Economy, and Justice, and the Federation of Saudi Chambers of Commerce (FSC).

It is worth noting that the Real Estate Brokerage Law is one of the key enablers adopted by the Real Estate General Authority to develop, govern, and digitize the real estate sector, and to serve its stakeholders. This law aligns with the sector’s comprehensive strategy, initiatives, and priorities, aiming to make the Kingdom’s real estate sector vibrant, attractive, and competitive, and to position it as a magnet for investment — ultimately contributing to GDP growth and income diversification in line with the objectives of Vision 2030.

mail

Comments and suggestions

For any inquiries or comments about government services, please fill out the required information.