REGA Concludes Real Estate Brokerage Forum

Riyadh, 12 Muharram 1446 Hijri, corresponding to 18 July 2024 – SPA
 The Real Estate General Authority (REGA) concluded the “Real Estate Brokerage Forum” yesterday at the Riyadh International Convention and Exhibition Center, with the attendance of REGA’s Chief Executive Officer, Engineer Abdullah bin Saud Al-Hammad.
The forum reviewed the developments in the Real Estate Brokerage Law over the past year since its implementation began. It also explored opportunities and growth prospects in the real estate market, with the participation of a select group of experts and specialists in modern digital real estate technologies.
In the first dialogue session, speakers discussed the impact, opportunities, and challenges presented by the Real Estate Brokerage Law. They noted that competition and challenges have intensified for brokers following the implementation of the new system, emphasizing that long-term success will depend on the broker’s qualifications, skill, and professionalism.
The speakers also highlighted the role of the Saudi Real Estate Institute and its training courses, which have contributed to equipping sector professionals with high levels of competence and expertise. They pointed out that, following the regulation of the sector, women have excelled and made significant inroads into the field, including the real estate investment space. They affirmed that the Saudi real estate sector is currently witnessing exceptional momentum, reflecting the size of the opportunities and the promising future ahead.
In the second dialogue session, the speakers addressed the critical role of real estate platforms as the future of the market. They discussed the potential of augmented reality as an innovative tool for real estate marketing, offering immersive and realistic experiences for property seekers. The session also emphasized REGA’s role in advancing global indicators that support the digital transformation of the Kingdom’s real estate market. These efforts have contributed to a high level of electronic maturity both locally and regionally and have driven a qualitative leap in electronic real estate transactions—marked by greater speed, accuracy, quality, and efficiency.
It is worth noting that through organizing the “Real Estate Brokerage Forum,” REGA aims to highlight its ongoing efforts to develop the real estate brokerage profession and build a strong and advanced sector that contributes to economic growth and fulfills the objectives of the comprehensive real estate sector strategy. The forum also serves to introduce the role of real estate technologies in delivering innovative services and achieving a more advanced future for the sector.