The Ministry of Municipality revealed the most important functions of the General Authority for Regulating the Real Estate Sector, which was issued by Emiri Resolution No. 28 of 2023 to establish it. The ministry said yesterday, through its official account on Twitter, that the authority aims to regulate and stimulate the real estate sector and advance it, and to create a more transparent, efficient and prosperous real estate market, stressing that the authority will have a moral personality. Among the most important functions of the Authority: Preparing a national plan for regulating and stimulating the real estate sector. Propose programs and policies that will advance the real estate sector. Granting licenses for real estate development, developers and companies working in the field of managing and maintaining real estate under development. Organizing, controlling and supervising real estate development escrow accounts. Approving the rules governing the real estate development profession and other real estate activities. Preparing and updating policies and studies related to achieving a balance between supply and demand in real estate markets. Developing a system to monitor and regulate the fees for services provided by real estate companies to ensure transparency and protect the rights and interests of all parties.
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