Cabinet's decision allows REGA to exercise powers established by law, Al Hogail says

Majid Al Hogail, Minister of Municipal, Rural Affairs and Housing 

Majid Al Hogail, Minister of Municipal, Rural Affairs and Housing and Chairman of the Real Estate General Authority (REGA), said the Cabinet's decision issued today, Aug. 31, allows REGA to exercise the powers established by law, Saudi Press Agency reported.

Accordingly, the authority will be mainly responsible for registering real estate in the Kingdom, in addition to its current competencies, Al Hogail added.

REGA had submitted proposals for amending the Real Estate Registration Law, as regards specifying the property's location, nature, rights, and obligations to increase the reliability of its ownership, in addition to strengthening the real estate credit and developing the real estate wealth. This contributes to accelerating and boosting the efficiency of real estate registration procedures.

The new law is part of a comprehensive strategy to enhance the real estate sector, in addition to boosting its transparency and efficiency. This makes the sector attractive and characterized by trust and innovation.