Saudi: REGA begins legal action against real estate brokers accused of manipulations

Saudi: REGA begins legal action against real estate brokers accused of manipulations

RIYADH — The Saudi Real Estate General Authority (REGA) has begun legal actions against real estate brokers who were part of fraud and manipulation operations. Okaz/Saudi Gazette has learnt from well-informed sources that these brokers, who were accused of enabling fraudsters to use the data collected by them while documenting rental contracts through Ejar portal, were referred to the concerned authorities to take punitive measures against them.

According to the sources, the scams that were monitored included posting attractive and illogical prices in advertisements and unlicensed websites to attract the tenant for the rental unit, and then pressurizes him with the factors such as time and huge demand. One of the most dangerous methods was the misuse of some individuals’ data by fraudsters in a kind of cover-up to register as a real estate broker. They then register contracts to enhance the confidence of the tenant that they are accredited brokers.

The authority earlier urged the public to report about any suspicious transaction or unauthorized advertisement, and to ensure the completion of the process of documenting the electronic contract through the Ejar platform. It also instructed that there should be the landlord’s approval of the contract before making any payment and using