REGA Launches Its Electronic Platform for Real Estate Contributions

The Real Estate General Authority (REGA) has launched its new electronic platform for receiving qualification and licensing applications for real estate contributions. The launch took place under the patronage and in the presence of His Excellency Mr. Majed bin Abdullah Al-Hogail, Minister of Municipal and Rural Affairs and Housing and Chairman of REGA’s Board of Directors, alongside His Excellency Mr. Mohammed bin Abdullah Al-Quwiz, Chairman of the Capital Market Authority Board of Directors.
REGA explained that the platform will enable developers to obtain the necessary licenses to commence real estate contributions by submitting qualification or licensing applications electronically. It will also allow the creation of a unified file for each establishment, maintaining all its data and information, enabling it to review its licenses, and monitor the progress of its applications. This unified file will also facilitate the retrieval of previously submitted information, eliminating the need to re-enter data for future applications.
REGA’s Chief Executive Officer, Abdullah bin Saud Al-Hammad, stated that the Real Estate Contributions Law aims to enhance investment efficiency in the real estate development sector, improve the quality of real estate products to increase the supply of both commercial and residential units, expand financing options for real estate developers, and provide new investment avenues for interested investors. The Law also supports promising investment opportunities for small and medium-sized real estate establishments, sustains real estate development activities, and creates job opportunities within the Saudi market.
Al-Hammad emphasized that the launch of the electronic platform for real estate contributions is part of REGA’s broader efforts to regulate the real estate sector, digitize its operations and procedures, and streamline the process of application submission and follow-up. All processes related to real estate contributions have been automated to ensure proper governance and supervision, thereby boosting investor confidence in Saudi Arabia’s real estate sector.
It is worth noting that the Real Estate Contributions Law is among the various laws and regulations introduced by REGA to organize the real estate sector across all its activities and practices. The Law contributes to establishing a safe and stable investment environment characterized by high transparency and efficiency. It also accelerates the pace of construction and increases the supply of residential, commercial, investment, and tourism real estate, among others, while fostering the development of vibrant, flexible, and sustainable communities that adhere to environmental and social standards.