The Real Estate General Authority (REGA) has presented the draft implementing regulations for the Real Estate Contributions Law via the “Istatlaa” platform, allowing the public, government entities, and private sector stakeholders to share their views and observations prior to the regulations' approval. This initiative is being carried out in coordination with the Capital Market Authority, in accordance with Article (Thirty-Seven) of the Real Estate Contributions Law issued by Royal Decree dated 28/12/1444 Hijri.
REGA clarified that the draft “Implementing Regulations for the Real Estate Contributions Law” consists of thirty-six articles designed to protect the rights of all involved parties, eliminate unregulated and irregular real estate contribution practices, and establish oversight and compliance mechanisms. The regulations are an extension of the real estate legislative framework overseen by REGA and align with the broader goals of the comprehensive strategy for the real estate sector.
According to REGA, the regulation articles address the classification of real estate contributions and developers, the licensing procedures for real estate contributions, provisions related to contribution capital, and the roles and responsibilities of those practicing real estate brokerage activities. They also detail procedures for supervision, inspection, and control.
REGA called on the public, government bodies, and private sector stakeholders to review the draft regulations on the Istatlaa platform at: https://istitlaa.ncc.gov.sa/ar/Municipality/rega/Implementing/Pages/default.aspx
and to submit their comments and suggestions. REGA emphasized its commitment to ensuring that both the Law and its implementing regulations contribute to increasing the availability of commercial and residential real estate products by providing real estate developers with a new financing and investment channel. These regulations are also expected to enhance investor confidence in the Kingdom’s real estate sector by enforcing rules that protect all parties, eliminate irregular practices, and ensure proper supervision and compliance.
Furthermore, the Law aims to create promising investment opportunities for small and medium-sized enterprises within the real estate market, offering a new, reliable vehicle for real estate investment.
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