The Real Estate General Authority (REGA) confirmed that the Real Estate Brokerage Law, which has been in compliance for five months, contributed to governing brokerage activities, marketing, real estate advertisements and real estate auctions, and raising the level of real estate market transparency. During the past five months, more than 117,000 real estate advertising licenses were issued through more than 32,000 real estate brokers licensed with FAL licenses for brokerage and marketing, who concluded more than 108,000 real estate brokerage contracts, in addition to licensing 24 real estate platforms to date.
REGA explained that individuals' share of real estate FAL licenses is (34%) while establishments obtained (66%), distributed across real estate brokerage and marketing activities at (22%), real estate advertisements at (77%), and real estate auctions at (1%). The number of visits to REGA's electronic services page exceeded 18 million visits since the implementation of the Real Estate Brokerage Law began. REGA also received nearly 4,000 reports of Real Estate Brokerage Law violations during the past period, and implemented more than 9,000 supervisory operations including joint campaigns with relevant entities and electronic supervision targeting supervision of electronic channels and platforms. REGA served more than 600,000 beneficiaries during the past period through the unified call center for Authority services and service centers.
