Arab News, Sunday, Jun 6, 2021 | Shawwal 25, 1442
Saudi Arabia says real estate advertisers must be citizens
Saudi Arabia:
Only Saudis can
advertise real estate in the Kingdom, according to the new Real Estate Ads
Controls, issued by the General Real Estate Authority, Okaz newspaper reported.
The new advertising controls are aimed at reducing fake real estate
advertisements, enhancing its reliability and credibility.
Controls also require the registry of the advertisers’ name on the National
Single Sign-On platform (NAFAZ) provided that the advertiser is the owner of the
property or a legal agent or a real estate broker under a written authorization
or a court order.
The Real Estate General Authority also issued the licensing and classification
requirements for electronic real estate platforms to raise their reliability.
The Authority stressed that if one of the licensing conditions is violated, a
number of legal measures will be taken. The Authority would obligate the
platform to remove the advertisement and notify the advertiser, or to stop the
advertiser from publishing on the platform for no more than a year.