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A significant property growth has been seen in Saudi Arabia after implementing Real Estate Brokerage Laws. Abdullah Al Hammad , CEO of Real Estate General Authority (REGA) has stated that Saudi Arabia’s transactions increased 17% to 3.5 million and total worth of $ 161 billion.
Al Hammad Highlighted that, residential transactions grew by 18% with worth of $81 billion and commercial transactions escalated 11% with worth of $ 80 billion. Also, he stated that this new law impacted highly the property market of Saudi Arabia and emphasized that it will bring the opportunity of extensive development and innovation within the sector.
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