Saudi Arabia: Real estate localisation to generate 11,000 jobs gulfnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gulfnews.com Daily Mail and Mail on Sunday newspapers.
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.
Regulatory Framework Aims to Encourage Foreign Ownership of Real Estate in Saudi Arabia aawsat.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aawsat.com Daily Mail and Mail on Sunday newspapers.