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Tasks and Responsibilities of The Authority
"The responsibilities of the Real Estate Regulatory Authority-Aqarat Sector were defined by the Emir’s Decision No. (28) of 2023."
- Preparing a national plan for the regulation and stimulation of the real estate sector, including the strategy and general policy regarding the sector, while taking into account the state's economic and social development plans, and implementing it after approval.
- Collecting, updating, and analyzing data, information, and statistics related to regulating and stimulating the real estate sector in the country, so that the authority becomes a primary source of accurate data, information, and statistics concerning the real estate development sector in coordination with the competent authorities.
- Proposing programs and policies that would promote the real estate sector and providing them to the relevant authorities.
- Providing awareness and guidance programs for workers in the real estate sector.
- Granting real estate development licenses, developer licenses, and licenses for companies operating in the field of management and maintenance of real estate being developed.
- Regulating escrow accounts for real estate development and overseeing and supervising them.
- Approving the regulatory rules for practicing real estate development, selling, leasing, real estate appraisal, shared properties, and other real estate activities.
- Preparing and updating policies and studies aimed at achieving a balance between supply and demand in real estate markets.
- Organizing training and educational programs aimed at raising awareness about real estate development regulations, conducting and supporting research and studies in this field, and working to benefit from their results.
- Representing the state in regional and international conferences and meetings related to real estate sector activities, in coordination with the competent authorities.
- Representing the state in regional and international conferences and meetings whose activities are related to the real estate sector, in coordination with the relevant authorities.
- Establish a system to monitor and regulate fees for services provided by real estate companies to ensure transparency and protect the rights and interests of all parties.