The Chairman of the Real Estate General Authority (REGA), Eng. Abdullah bin Saud Al-Hammad, met with members of the Saudi Society for Opinion Writers "Ra’i" during a meeting hosted by the Society in Riyadh. The meeting aimed to highlight and review the regulatory and legislative aspects of the real estate sector, as well as the range of services provided by REGA. It also sought to strengthen REGA’s role in promoting transparency and raising awareness among all stakeholders in the real estate sector, in collaboration with media entities and opinion leaders.
Al-Hammad emphasized that the government’s focus on the real estate and housing ecosystem, coupled with the enactment of real estate legislation and regulations, has contributed to enhancing the competitiveness and growth of the Saudi real estate market. He noted that the launch of the Saudi Architecture Map by His Royal Highness the Crown Prince reflects the Kingdom’s commitment to celebrating its architectural heritage, improving quality of life, and developing the urban landscape in Saudi cities. The Map is part of the Kingdom’s efforts to create sustainable urban cities that harmonize with local nature, incorporate traditional architectural styles using modern techniques, and promote the use of local building materials without imposing additional financial burdens on owners or developers. It serves as a catalyst for urban growth and an enabler for increasing real estate supply, supporting the objectives of the Housing Program—one of Saudi Vision 2030’s key initiatives—which aims to achieve a 70% homeownership rate for citizens.
Al-Hammad further explained that the real estate and housing ecosystem in Saudi Arabia has undergone a significant transformation in recent years, driven by a robust regulatory and legislative framework that laid the foundations for the sector’s value chain. This framework has defined a clear path for all stages and activities that contribute to real estate development and management, from planning and regulation to operation, maintenance, and redevelopment. It also encompasses areas that enhance efficiency, transparency, and governance; advance construction and building technologies; and integrate modern real estate technologies such as artificial intelligence, virtual reality, and the Internet of Things. These efforts aim to foster an attractive real estate investment environment for both local and international investors.
Eng. Al-Hammad confirmed that REGA currently oversees more than 95% of the value chain in the real estate sector in cooperation with relevant entities. He highlighted that the Law of Real Estate Registration, Real Estate Brokerage Law, Off-Plan Real Estate Projects Sale and Lease Law, and Real Estate Contributions Law have collectively contributed to improving the quality of real estate transactions and creating a secure investment environment that protects the rights of all parties involved. Additionally, the Ejar platform, through its digital services, has helped organize, facilitate, and accelerate rental transactions, serving as a model that can be adopted globally.
The meeting underscored the vital role of media professionals and opinion writers in supporting the growth and sustainability of the real estate sector. REGA, through its partnerships with media entities and journalists, and its provision of open data, aims to reinforce the principles of transparency and clarity on which the comprehensive real estate sector strategy is based. REGA believes that access to real estate information and data can have a direct and far-reaching impact on individuals, companies, institutions, the broader economy, and its overall image.