In force Last amended 6/1/1447 AH
Saudi Real Estate Authority Statute
تنظيم الهيئة العامة للعقار
The statute organizing the General Authority for Real Estate. The text is set out in 16 articles.
- Articles
- 16
- In force
- 16
- Amended
- 9
- Issued
- 25/4/1438 AH
Issued by: قرار مجلس الوزراء رقم 239 بتاريخ 25 / 4 / 1438
Each article shows the official Arabic text, which is the only legally binding version, followed by our plain-English explanation.
Browse Real Estate Authority Statute by topic
Articles of the Saudi Real Estate Authority Statute
- Article 1The article defines the terms of the General Authority for Real Estate Statute, including the license authorizing real estate activities, and real estate activities such as development, off-plan sales, offerings and brokerage.
- Article 2The article provides that the General Authority for Real Estate has legal personality and financial and administrative independence, is organizationally linked to the Minister, is based in Riyadh, and may open branches and offices within the Kingdom.
- Article 3The article sets the Authority's basic purpose, in-rem registration of real estate and the regulation and supervision of non-governmental real estate activity, and lists its powers such as licensing, controls, advertisements and the electronic portal.
- Article 4The article sets the formation of the Authority's Board of Directors, chaired by the Minister with the CEO, government representatives and three private sector members, with a rank requirement and selection of a deputy chairman.
- Article 5The article makes the Board of Directors the Authority's supreme authority and lists its powers, such as setting policies, approving regulations, the structure, fees for licenses and services, the budget, and appointing the auditor.
- Article 61- تعقد اجتماعات المجلس في مقر الهيئة بدعوة من الرئيس، ويجوز عند الاقتضاء عقدها في مكان آخر داخل المملكة. 2 - يعقد المجلس اجتماعاته بصفة…
- Article 7The article allows the Board of Directors to form permanent or temporary committees from its members or others, with the decision forming each specifying its chair, members and jurisdiction, and the committee may seek assistance from whomever it sees fit.
- Article 8The article provides that the Authority has a CEO appointed and relieved by decision of the Board on the Chairman's nomination, with the decision setting his pay and financial benefits.
- Article 9The article makes the CEO responsible for managing the Authority and lists his powers, such as supervision, proposing policies, preparing the budget, approving the issuance of licenses and representing the Authority before the judiciary.
- Article 10The article permits one-stop service centers to be established with the Board's approval at the Authority's headquarters and branches, and requires the bodies concerned to appoint representatives with delegated powers ensuring speedy services.
- Article 11The Article lists the Authority's financial resources (state budget, licence fees, service fees, investment returns, gifts and other resources), regulates depositing and spending its funds, and sends surplus funds to the General Treasury.
- Article 12The Article provides that the Authority is treated, as regards exemption of its imports from customs duties, according to the rules applied to imports of public institutions.
- Article 13The Article provides that the Authority has an independent annual budget issued under the arrangements for the state's general budget, that its financial year is the state's financial year, with an exception for the first year.
- Article 13 bisThe Article provides that the Authority's personnel are subject to the provisions of the Labor Law and the Social Insurance Law.
- Article 14The Article requires the Board to appoint one or more licensed external auditors to audit the Authority's accounts, without prejudice to the General Auditing Bureau's jurisdiction, and to give the Bureau a copy of the auditor's report.
- Article 15The Article provides that the Statute is published in the Official Gazette, takes effect from the date of publication, and repeals any provisions that conflict with it.