The Saudi Real Estate General Authority (REGA) gives brokerage practitioners and real estate service providers a grace period for brokerage practitioners and real estate service providers until 18 July to pass its qualifying program, Invest-Gate reports.

REGA grants the corrective deadline based on its role in stimulating real estate brokerage activity and enabling real estate practitioners to continue their work through the real estate brokerage system, which requires brokerage practitioners and real estate service providers to obtain the necessary licenses to practice the activities specified in the system.

The real estate brokerage system includes seven main activities that are subject to its provisions, namely: (real estate brokerage, real estate marketing, property management, facilities management, real estate auctions, real estate advertisements, real estate consultations, and analyses), and the work of individuals is limited to four of them. Only: brokerage, marketing, advertising, consultancy, and real estate analysis.

Individuals wishing to practice these activities are required to obtain a special license to practice the activity and its requirements, pass the qualifying program for each activity, and pay the finance fee for the license, except for the license to practice marketing and real estate advertisements, and register on the Authority’s electronic services platform.

In a related context, the Authority organizes an introductory exhibition for the real estate brokerage system in several commercial markets in Riyadh, with the participation of several government agencies, banks, finance, and real estate development companies.