The Board of Directors of the Real Estate General Authority,
based on the powers entrusted to it by law,
after perusal of article 3 of the Real Estate Contributions Law issued by Royal Decree D/203, dated 28 Dhu Al-Hijja 1444 [17 July 2023], which includes “without prejudice to the competences of other government entities, the authority shall regulate the real estate contributions activity in accordance with what is specified by the system and the regulation, and in particular, it must have the following: 4. Setting the conditions for qualifying and classifying those practising the real estate contributions activity.”
after perusal of article 18 of the Executive Regulation of the Real Estate Contributions Law issued by virtue of the Board of Directors of the Real Estate General Authority Decision D/B/D/A/1/2024/T dated 18 Rajab 1445 corresponding to 30 January 2024, which stipulated that “the authority shall, by a decision by the board, issue the controls governing the qualification and classification of those practicing the real estate contributions activity.”
and after perusal of the Board of Directors of the Real Estate General Authority Decision by Circulation D/B/D/A/4/2024/T dated 25 Sha’ban 1445 corresponding to 6 March 2024,
hereby decides
First
The Controls Regulating the Qualification and Classification of Those Practising the Real Estate Contributions Activity are hereby approved in the form attached.
Second
The controls must be published in the official gazette, and it must be communicated to those who are required to implement it and act by virtue of it.
May Allah provide success.
Minister of Municipal and Rural Affairs and Housing,
Chairman of the Board of Directors of the Real Estate General Authority,
Majid bin Abdullah Al-Huqail.
Issued on: 25/8/1445
Corresponding to: 6/3/2024
Published in Umm Al-Qura 5026 issued on 29 March 2024.