Real Estate Authority, Monsha'at ink MoC to support realty SMEs

The Real Estate General Authority (REGA) inked a memorandum of cooperation (MoC) with the General Authority for Small and Medium Enterprises (Monsha'at) to boost the SMEs efficiency, in addition to increasing their contribution to the Kingdom’s gross domestic product (GDP).

The MoC was inked by Issam Al-Mubarak, REGA Vice Chairman and Governor, and Saleh Alrasheed, Monsha'at Governor.

It also aims to encourage the freelance realty business and provides job opportunities in the field of real estate SMEs.

The cooperation between the two entities aims at providing specialized courses on real estate business activities, increasing the number of business licenses, supporting the real estate franchise program, while boosting franchise expansions, and exchanging technical as well as other top-notch expertise.

Under the MoC, both entities seek to implement their strategies, with the aim of supporting realty SMEs, and boosting the industry efficiency and creativity.

In this regard, Al-Mubarak granted two real estate franchise licenses to two realty firms, upon fulfilling the licensing requirements.