REGA revises lessor-tenant relationship

31/05/2025 Argaam
Abdullah Alhammad,CEO ofReal Estate General Authority (REGA)

Abdullah Alhammad, CEO of Real Estate General Authority (REGA)

The Real Estate General Authority (REGA) currently revises the lessor-tenant relationship, based on the Saudi Crown Prince’s directives, CEO Abdullah Alhammad told Asharq TV on the sidelines of Cityscape Global exhibition in London.

 

The real estate sector’s contribution to the Kingdom’s GDP reached 14% in 2024. The sector also created more than 500,000 jobs.

 

The sector has seen steady growth following the launch of Vision 2030, of which it is considered a key pillar. Saudi Arabia’s real estate sector has undergone significant transformations in terms of legislation, governance, and transparency, he added.

 

According to Argaam data, Crown Prince Mohammed bin Salman issued directives last March to implement several measures aimed at achieving balance in the real estate sector, amid rising land and rental prices in Riyadh over recent years.

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