RIYADH — The Real Estate General Authority (REGA) has warned real estate brokers and service providers that violations of regulations could result in the suspension or revocation of their licenses, along with fines of up to SR200,000. The warning follows the REGA’s detection of several violations, including practicing the profession without a valid license, failing to exercise due diligence in verifying information obtained from property owners or beneficiaries, and failing to display the licensee’s name or license number in property advertisements. The violations were identified during 39 joint inspection tours covering 369 real estate establishments across several regions of Saudi Arabia. The authority explained that field inspections are among the methods it employs to regulate the real estate market. During August, its inspection teams conducted 17,182 field audits of advertising signs and real estate offices, resulting in the detection of numerous violations. The REGA urged all brokers and service providers to comply with the rules and regulations of the Real Estate Brokerage Law and its bylaws, and to familiarize themselves with the violations to avoid penalties. It also urged citizens and residents to report suspected violations or real estate fraud through the reporting response channel on the authority’s official platform.
