REGA: More Than 46,000 FAL Real Estate Licenses Issued Since Implementation of Real Estate Brokerage Law, Including Over 11,000 in Q1 2024

The Real Estate General Authority (REGA) announced that it issued more than (11,000) FAL real estate licenses during the first quarter of 2024 through its electronic platform, bringing the total number of active licenses issued since the implementation of the Real Estate Brokerage Law to more than (46,000). Of these, (64%) were issued to individuals and (36%) to establishments.
REGA explained that the "FAL Real Estate License" comprises a set of licenses—five licenses for individuals and establishments, in addition to a sixth license dedicated to real estate advertising. The FAL license is an official document authorizing both individuals and establishments to engage in the real estate activities specified in the license.    The FAL license for real estate brokerage and marketing permits individuals and establishments to mediate in the completion of real estate transactions between parties in return for a commission, as well as to market real estate through advertising or direct marketing in offices, exhibitions, and other venues. The FAL license for property management is issued exclusively to establishments and authorizes them to manage the financial and administrative affairs of real estate on behalf of others. Similarly, the FAL license for facility management is specific to establishments and authorizes them to manage the technical aspects of real estate on behalf of others.    Moreover, the FAL license for auction management and organization is designated for establishments and enables them to organize and conduct real estate sales through public auctions, including electronic auctions. The FAL licenses for real estate consultations and real estate analysis are available to both establishments and individuals, allowing them to provide real estate analyses, consultancy services, and expert opinions to the public through various media outlets or directly to beneficiary entities.
REGA has enhanced its real estate brokerage platform by implementing several improvements aimed at streamlining procedures, accelerating service delivery, enhancing user experience, and safeguarding the rights of real estate sector beneficiaries. License renewal is now available to all beneficiaries (120) days prior to expiration, helping them maintain uninterrupted practice of their licensed real estate activities.
It is also noteworthy that REGA conducts awareness field visits, along with joint supervisory field campaigns in collaboration with relevant authorities to monitor real estate establishments. These efforts are complemented by an electronic supervision track, which targets digital channels and real estate platforms to ensure that advertisements and online brokerage activities comply with applicable regulations.