Shura Council approves real estate brokerage draft law

06/12/2021 Argaam

Shura Council building

Saudi Arabia’s Shura Council approved today, Dec. 6, the real estate brokerage draft law, SPA reported.

 

The Council directs real estate brokers and service providers to legalize their status when the law comes into effect, according to its provisions within 180 days from its application.

 

Under the draft law, the Real Estate General Authority (REGA) will exercise its authorities pursuant to Article (6) in coordination with the Ministry of Finance and Non-Oil Revenues Development Center.

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