Here is a concise, professional rephrased version of the news:
Saudi Arabia Approves Regulatory Sandbox to Boost Real Estate Technology Innovation
Riyadh: The Board of Directors of the Real Estate General Authority (REGA) has approved a regulatory framework for a Real Estate Sandbox designed to encourage innovation in property technology and enhance market efficiency across the sector.
The sandbox will provide a flexible environment for developers, startups and technology firms to test digital solutions aimed at improving real estate operations under supervised conditions. The initiative forms part of a broader package of decisions intended to raise the maturity and sustainability of Saudi Arabia’s real estate market.
The board meeting was chaired by Majid Al-Hogail, Minister of Municipalities and Housing and Chairman of the REGA Board, and included representatives from government agencies and the private sector.
In addition to the sandbox framework, the board endorsed updates to the Owners Association Law and began its regulatory procedures, moves expected to strengthen governance in real estate complexes, safeguard stakeholder rights and improve quality of life for residents.
REGA officials said the measures aim to support a balanced, efficient and innovation-friendly real estate sector that can attract investment, build confidence and align with broader economic goals.
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