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Saudi real estate transactions hit $427bn since brokerage law took effect
RIYADH: Saudi Arabia’s real estate market has recorded SR1.6 trillion ($426.6 billion) in transactions over the three years since the Kingdom’s Real Estate Brokerage Law took effect, a senior official said. Speaking at the third Real Estate Brokerage Forum in Riyadh, Tayseer Al-Mufarrej, general manager of strategic communications and official spokesperson for the Real Estate General Authority, said the Kingdom has licensed 117,691 real estate brokers, who have collectively facilitated more than 1.11 million brokerage contracts.
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