The Real Estate General Authority (REGA) has announced an extension of the application period for joining the Regulatory Sandbox for PropTech startups. The initiative offers a flexible and practical environment for testing innovative real estate technology models, ensuring their compliance with current systems and legislation, and supporting their development to achieve the objectives of growth and sustainability in the real estate sector.
REGA’s official spokesperson, Taiseer bin Mohammed Al-Mufarrej, explained that the extension comes as part of REGA’s broader efforts to foster technological innovation, support the growth of real estate startups, and accelerate their contribution to the GDP in alignment with Saudi Vision 2030. The decision also reflects REGA’s commitment to empowering local and international entrepreneurs and startups. The application window has been extended for an additional two months.
Al-Mufarrej noted that REGA had initially opened applications last October during the Global PropTech Summit, inviting startups to join the Regulatory Sandbox—one of the core initiatives of the Saudi PropTech Hub (SPH). This initiative aims to develop regulatory frameworks that keep pace with technological progress while maintaining a balance between innovation and legislative compliance in the real estate sector. The sandbox enables the development of advanced real estate technologies that improve service quality for clients and create innovative opportunities in real estate development. These include modern construction technologies that help speed up building processes, preserve natural resources, promote sustainability, and enhance energy efficiency. The initiative also supports the creation of a competitive real estate market that attracts both local and international investments.
It is worth noting that REGA recently launched the PropTech Business Accelerator in collaboration with the National Technology Development Program (NTDP) and its global partner, the European Business Accelerator "Startup Wise Guys." The accelerator serves as an incubator, offering startups the resources and expertise needed for growth and expansion. REGA invites interested parties, specialists, entrepreneurs, and startup owners to join the initiatives of the Saudi PropTech Hub (SPH) and benefit from its programs and services, including the Regulatory Sandbox, by submitting their applications through the following link: https://rega.gov.sa/prop-tech/prop-tech-center/ .