REGA warning: Real Estate violators face license cancellation, SR200,000 fine

RIYADH — The Real Estate General Authority (REGA) has issued a stern warning to real estate brokers and service providers, indicating that violations of regulations could lead to license suspension or revocation, along with fines of up to SR200,000. This stern warning came in the wake of the REGA's discovery of several regulatory breaches, which include operating without a valid license, inadequate due diligence checks on property-related information, and neglecting to display the licensee's name or license number in property listings.

These infractions were uncovered during 39 coordinated inspection tours that visited 369 real estate firms across various parts of Saudi Arabia. The regulatory body clarified that on-the-ground inspections represent one of the tools it uses to oversee the real estate sector. In August alone, REGA inspection teams performed 17,182 field reviews of ads and agency premises, leading to the identification of multiple rule infractions.

The REGA has strongly advised all real estate agents and service providers to adhere to the stipulations laid out in the Real Estate Brokerage Law and its ancillary rules, as well as to become acquainted with the violations so as to dodge penalties. Furthermore, the authority has appealed to citizens and residents to flag any suspected breaches or real estate scams via the feedback mechanism provided on the official REGA website.