The Real Estate General Authority (REGA) took action based on several reports and monitoring operations, resulting in the referral of (92) real estate brokers to the competent authorities for suspected cases of financial fraud. Regulatory procedures related to other monitored reports are still underway and will be referred accordingly once completed.
REGA confirmed that it conducts electronic supervision targeting online channels and real estate platforms to verify the legitimacy of advertisements and digital brokerage activities. This includes handling reports submitted through REGA’s platform or via the toll-free number (199011), as well as the efforts of field supervision teams that verify the legality of establishments’ operations and property advertisement boards. Additionally, REGA participates in joint supervision campaigns with relevant entities to address violations related to Saudization, commercial cover-ups, or the legitimacy of work premises.
REGA urged all brokers and real estate service providers to comply with the provisions of the Real Estate Brokerage Law and avoid violations. It encouraged them to review any infractions to prevent penalties. The law aims to regulate real estate brokerage activities, provide innovative and high-quality real estate services to beneficiaries, enhance the quality of real estate transactions, support both brokers and beneficiaries, contribute to the sustainability of real estate assets, reduce disputes, protect the rights of dealers, and promote greater transparency in the real estate market.