Real estate transactions in the Kingdom have reached 1.6 trillion riyals over the three years since the Real Estate Brokerage Law took effect.
Over the same period, authorities licensed 117,691 brokers and recorded more than 1.11 million brokerage contracts.
What the Numbers Describe
The transaction figure measures market size. The licensing and contract figures measure something different: formalization. Three years ago, much of the brokerage market operated informally. The law moved it into a licensed, recorded system.
A recorded market is a taxable, regulable and analyzable one. The 1.11 million contracts now sitting in the registry are also a dataset, one that did not exist before the law, and one that pricing, lending and policy decisions can now draw on.