Saudi Arabia’s Real Estate General Authority (REGA) said the country recorded SAR1.2 trillion in real estate transactions over more than eight million deals since the implementation of the Real Estate Brokerage System in July 2023. The announcement was made at the second edition of the Real Estate Brokerage Forum, held in Riyadh.
REGA also reported licensing over 86,000 individuals to operate as real estate brokers during the same period. In addition, 75 digital real estate platforms were approved, offering more than 685,000 verified property listings. The figures were presented by REGA’s Director-General of Strategic Communication, Taiseer bin Mohammed Al-Mufarrej, who said the system had formalised brokerage as a licensed profession governed by clear rules and responsibilities.
The forum brought together stakeholders from across the sector to review regulatory progress and market data, including the impact of digital licensing and the introduction of formal oversight mechanisms. The sharp rise in both individual broker registrations and online platform listings is part of a broader move to digitise and regulate the sector, which Saudi officials say is critical to improving transparency and investor confidence.
The event reflects REGA’s ongoing efforts to reform the real estate sector in line with Vision 2030 objectives. The authority is working to position the sector as a key pillar of the Kingdom’s non-oil economy, attracting both domestic and international investment.
