REGA issued 20 legislations to regulate market, raise services quality: CEO

Abdullah Al-Hammad, CEO of The Real Estate General Authority (REGA)

The Real Estate General Authority (REGA) passed more than 20 legislations over the years, ensuring a significant contribution regulating the sector, preserving rights, enhancing partnerships and raising the quality of products and services, CEO Abdullah Alhammad said.

In an exclusive statement to Argaam on the sidelines of the Real Estate Future Forum, Alhammad said that these legislations played a pivotal role in controlling the market and preventing unwanted practices in the sector.

REGA continues to focus on the governance of these legislations and ensuring their application through compliance and oversight, as well as raising real estate awareness, the CEO added.

The authority operates according to successive plans aimed at achieving its main goal — ensuring a vital and attractive real estate market, in line with Vision 2030, he said.

REGA relies on several basic pillars to achieve this goal, including the governance of the real estate sector, service of partners, and strengthening the market’s effectiveness. These pillars were developed through projects and initiatives that extend over the past and future years.

One of REGA’s goals for 2025 is to raise the compliance rate to the real estate legislation, in addition to enhance the market attractiveness to foreign investment.

Additionally, the authority seeks to raise the sector's governance and improve the quality of innovative real estate products and services, especially by integrating real estate technology into the sector, he noted.

Meanwhile, Alhammad said that the technical renaissance witnessed by the Kingdom today provides opportunities to develop new products in the real estate sector, and the authority is currently working to invest in this technical boom to enhance quality and create innovative solutions that serve both citizens and investors.