REGA starts receiving off-plan projects licensing applications

07/05/2024 Argaam
Logo ofReal Estate General Authority (REGA)

Logo of Real Estate General Authority (REGA)

The Real Estate General Authority (REGA) began today, May 7, accepting applications for licensing off-plan projects through the authority's electronic platform in accordance with the law on selling and renting off-plan real estate projects issued pursuant to the Cabinet's decision and approved executive regulations.

 

Licensing the practice of off-plan sales and leasing works contributes to regulating activity, reducing violations in the off-plan real estate development sector, and increasing the supply of commercial, residential, industrial, tourism, and other real estate products, REGA said in a statement.

 

It added that the law is one of the financing channels for real estate developers and a major enabler of the real estate market, which raises the reliability of the sector through the governance included in it.

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