https://arab.news/572fp
- Number of renewed certificates exceeded 635
- Mullak鈥檚 indicators show establishment of 3,600 new Owners鈥� Associations
RIYADH: 黑料社区鈥檚 Real Estate General Authority announced an increase of 185 percent in the number of renewed Owners鈥� Association Certificates through its electronic portal during the first half of the year compared to the same period in 2024.
The number of renewed certificates exceeded 635 during this period, as part of the authority鈥檚 efforts to create a sustainable regulatory environment that safeguards the rights of property owners and residents of jointly owned real estate units.
As a key part of Saudi Vision 2030, REGA aims to professionalize real estate practices, streamline licensing, and promote investment through digital platforms like Mullak. In addition, REGA has introduced off-plan property regulations to better protect both buyers and developers.
Mullak鈥檚 indicators for the first half show the establishment of 3,600 new Owners鈥� Associations, covering more than 9,000 registered real estate units.
This brought the total number of accredited associations to 17,000. Over 16,000 new members joined during this time, raising the total number of registered members on the portal to more than 160,000.
The authority also registered 4,000 association presidents and over 1,000 property managers, reflecting the growing scope of participation in association management and the increasing interest in regulating relationships between owners and improving the efficiency of community management.
REGA said the total number of transactions processed through the Owners鈥� Associations portal exceeded 74,000.
These transactions included property registrations, ownership transfers, appointment voting for association leaders, and issuance and renewal of certificates.
The portal also provides additional services to support the development and regulation of the real estate sector.
The authority said that property managers in accredited Owners鈥� Associations are authorized to document lease contracts related to the investment of common areas.
Such contracts require prior approval through members鈥� voting on the electronic portal before they can be officially documented via the Ejar platform.