Real Estate General Authority

Real Estate General Authority
الهيئة العامة للعقار
الهيئة العامة للعقار
Agency overview
Formed2017
JurisdictionSaudi Arabia
Headquarters
Agency executive
  • Engineer Abdullah bin Saud Al-Hammad, CEO of the Real Estate General Authority
Websiterega.gov.sa

The Real Estate General Authority (REGA; Arabic: الهيئة العامة للعقار) is a Saudi government agency that was established in 2017 to regulate rules, stimulate investment and provide consumer protection in the real estate industry in Saudi Arabia. Its mission is to enhance sector efficiency and encourage investment in alignment with economic and social development goals. REGA holds the inherent jurisdiction to execute real estate registration in the Kingdom, license real estate activities, oversee operations, and establish standards and regulations. These efforts aim to safeguard rights and strengthen the reliability of the Saudi real estate market.

In line with its mandates, REGA plays a pivotal role in Saudi Vision 2030 by optimizing the sector's performance, increasing its contribution to social and economic development, and supporting the Kingdom's GDP. Within this framework, the Comprehensive Strategy for the Real Estate Sector was approved by Council of Ministers Resolution No. (252) on 23/04/1442 AH. The strategy is built upon four main pillars: Sector Governance, Market Efficiency, Stakeholder Service and Sector Sustainability.

Strategic Mandates and Functions of REGA

Structure

The authority is headquartered in Riyadh, the Saudi capital city and it is financially and administratively independent. The authority is administrated by a board of directors chaired by the Minister of Housing.

References

  1. ↑ "Overview of Saudi Real Estate Laws and Practice". Al Tamimi & Company. Retrieved 2019-03-21.
  2. 1 2 "Saudi Real Estate General Authority Aims to Protect, Preserve National Property". Asharq AL-awsat. Retrieved 2019-03-21.
  3. 1 2 3 4 5 6 7 8 "About the Real Estate General Authority".{{cite web}}: CS1 maint: url-status (link)
  4. ↑ "The Real Estate General Authority launches its website and its "Twitter"account . | Ministry of Housing". www.housing.gov.sa. Retrieved 2019-03-21.
  5. ↑ "FaceOf: Majid Al-Hogail, Saudi Arabia's minister of housing". Arab News. 2019-03-19. Retrieved 2019-03-21.