SCCA Signs MOU with REGA

Published Date: 03/04/2018

Based on supporting the cooperation initiatives between the Saudi Center for Commercial Arbitration (SCCA) and the other governmental bodies, SCCA has signed a memorandum of understanding with the Real Estate General Authority, which included a cooperation in connection to the development of work strategies that relates to the real estate's alternative disputes resolution (ADR). It also aims to polarize and adopt best regional and international practices of which will develop the real estate ADR.

For his part, His Excellency the Governor of the Real Estate General Authority, Mr. Essam bin Hamad Al Mubarak, praised the importance of strengthening the relations and links of cooperation between the Real Estate General Authority and the other institutions such as SCCA. These kinds of cooperation  includes the exchange of experiences and raise the quality of competencies, to reduce the number of real estate disputes cases transferred to the courts and increase the attractiveness of the real estate sector to all parties involved and enhance confidence in it, and reduce the time period for ending real estate disputes, which represents the way adopted by the Authority to achieve its vision of the Saudi real estate sector to be dynamic and attractive, in fulfillment of its contributing to achieve the Kingdom's 2030 vision.

The SCCA's Chief Executive Officer, Dr. Hamed Merah, praised this step which reflects the intention to overcome the difficulties and cooperate with the regulatory bodies such as the Real Estate General Authority in order to develop the real estate sector in the Kingdom by providing, promoting and developing professional, transparent and rapid real estate ADR services such as arbitration and mediation.