The Real Estate General Authority (REGA) has announced the qualification of 80 real estate developers for the Real Estate Contributions License, along with the licensing of a real estate contribution project in Madinah. These steps follow the implementation of the new Real Estate Contributions Law, recently approved by the Council of Ministers, which aims to increase the supply of commercial and residential real estate products by serving as a new financing and investment channel for developers.
REGA explained that the qualification of developers to engage in real estate contributions was granted after they met the required eligibility conditions—an essential step before applying for a license to offer real estate projects under the contributions system. Obtaining the Real Estate Contributions License qualification certificate enables developers to apply for a license for their real estate projects in accordance with the law, its requirements, and implementing regulations. This contributes to accelerating construction, boosting the supply of residential, commercial, investment, and tourism properties, and fostering the development of vibrant, flexible, and sustainable communities that adhere to environmental and social standards.
REGA further confirmed that the licensing of the first real estate contribution project, along with the Capital Market Authority’s approval for the public offering of contribution certificates, follows the law’s rapid progression since its recent approval by the Council of Ministers. This journey began with the release of the draft law and implementing regulations for public consultation, followed by their enactment and the start of accepting qualification applications for the Real Estate Contributions License through the training program offered by the Saudi Real Estate Institute. REGA added that the licensed real estate contribution project, (Amlak 2), with a capital of SAR 10.4 million, involves the construction of residential apartment units in Madinah.
REGA emphasized that the legislation and regulation of real estate contributions will play a key role in enhancing investor confidence in the Kingdom’s real estate sector. The law’s provisions safeguard the rights of all parties, eliminate random and unregulated real estate contributions, and establish clear governance for oversight and compliance. Additionally, the law opens new, promising investment opportunities for small and medium-sized enterprises in the real estate market, providing a new, reliable investment vehicle that supports the creation of a vibrant and promising developmental and economic environment in the Kingdom.
It is worth noting that the training program for the Real Estate Contributions License is developed according to high standards for both technical and scientific content, ensuring that participants receive the appropriate qualification to practice the activity and raising awareness of the associated responsibilities. For more information about real estate contributions, visit http://s.rega.gov.sa/QB3 . Those interested in joining the training program can apply for registration through the official website of the Saudi Real Estate Institute at https://srei.sa/..