Research the issuance of licensing standards for electronic real estate platforms
The Board of Directors of the General Real Estate Authority held its fourteenth meeting – via video communication – today, headed by the Minister of Municipal and Rural Affairs and Housing, Chairman of the Board of Directors of the Authority, Mr. Majid bin Abdullah Al-Hogail.
At the beginning of the meeting, the council reviewed the authority’s annual report for 2020, which included a presentation of the authority’s most important work and its preparation process for the comprehensive strategy for the real estate sector, which culminated in the approval of the Council of Ministers. The report also reviewed the authority’s technical transformation program and its construction during the year 2020.For four electronic platforms, including (the platform of the Committee for Addressing Property Registration Errors, the educational platform of the Real Estate Institute, the Saudi Arbitration Center electronic platform, and the Real Estate Indicators platform), in addition to reviewing the achievements of the Saudi Real Estate Institute, which trained 37,871 male and female trainees, through 721 training courses implemented by it. institute in 2020.
The Council touched on the annual report of the Committee for Addressing Property Registration Errors and the report of the Real Estate Contributions Committee for the year 2020 and its most prominent achievements. The report indicated that the Real Estate Contributions Committee considered (47) real estate contributions,And received (32) new non-performing contributions arising before 8/22/1426 AH, and the committee issued (459) decisions, and judicial rulings were issued in amounts representing shareholders’ rights in 2020 in amounts of (752,600,000 million riyals), and the committee completed in 2020 the sale of lands for real estate contributions with an area of Total (12,961,721,47 m2) with a total value exceeding (2,254,905,255,54 riyals).The Board was briefed on the measures taken by the Authority in studying the challenges of electronic real estate platforms and the need to classify and supervise them; To increase confidence in them, raise the level of transparency, protect and preserve the rights of all dealers with these real estate platforms and websites, and reduce misleading practices, as the Council discussed issuing standards for licensing and categorizing electronic real estate platforms, and controls for regulating real estate advertising activity and limiting randomness in it, and clarifying the duties and prohibitions of real estate advertising. and supervision mechanism.The meeting was attended by the Vice Chairman of the Board of Directors, Governor of the General Real Estate Authority, Mr. Essam bin Hamad Al Mubarak, His Royal Highness Prince Saud bin Talal bin Badr, Undersecretary of the Ministry of Municipal and Rural Affairs and Housing for Housing Support and Beneficiary Service, General Supervisor of the General Administration of International Cooperation, and Undersecretary of the Ministry of Finance for Revenue Tariq bin Abd Allah Al-Shehayeb, Undersecretary of the Ministry of Municipal and Rural Affairs and Housing for Technical Affairs, Dr. Hassan bin Shawqi Al-Hazmi, Undersecretary of the Ministry of Justice for Regulations and International Cooperation Sheikh Abdullah bin Adnan Al-Sulaimi, and Undersecretary of the Ministry of