The Real Estate General Authority (REGA) has launched the draft Procedural Guide for Off-Plan Real Estate Projects Sale and Lease through the “Istitlaa” platform, inviting the public, government entities, and the private sector to review and submit their feedback and comments before its final approval. This initiative aligns with Article Two of the Implementing Regulations of the Off-Plan Real Estate Projects Sale and Lease Law, issued by REGA’s Board of Directors Decision No. (Q/M/E/H/8/2024/T) dated 20/10/1445 Hijri.
REGA explained that the draft Procedural Guide includes fifty-five procedural documents designed to regulate off-plan sale and lease activities, enhance transparency and disclosure, and safeguard the rights of all parties involved in contractual relationships. The guide aims to establish governance over oversight and compliance functions, automate all licensing processes related to these activities, and streamline the entire project lifecycle from inception to completion. This initiative is part of the broader real estate legislative framework supervised by REGA and aligns with the objectives of the comprehensive real estate sector strategy.
REGA further clarified that the Procedural Guide outlines the journey of real estate development for off-plan projects—starting from developer qualification and registration in the official registry, project licensing, execution stages, and mechanisms for managing escrow accounts, through to project completion and handover. REGA invited all interested parties—including the public, government entities, and the private sector—to review the draft guide on the Istitlaa platform and submit their observations and suggestions.
REGA reaffirmed its commitment to ensuring that the Procedural Guide for Off-Plan Real Estate Projects Sale and Lease contributes to enhancing the effectiveness of the real estate development sector under the off-plan sale and lease system. It also aims to increase the supply of commercial, residential, industrial, tourism, and other real estate products, thereby fostering trust among stakeholders and investors in the Saudi real estate sector.