A Real Estate Office had been Shut Down by MCI, Announced Raising Money for Real Estate Shareholding without a License

09 Mar 2015
MCI had shut down Al Nimer Office for Real Estate Services in Dammam for his calling upon a real estate shareholding in the province of Qatif, the said office began collecting money for that purpose without Fulfilling the statutory procedures and the necessary licenses.

The Ministry would like to warn the public of dealing with any real estate office or any company or person collecting funds without obtaining the necessary licenses to launch the contribution.

MCI would like to draw the attention of everyone to commit and follow the terms put forward for real estate contributions, issued by the Council of Ministers Decree No. (220) dated 22/08/1426 H, which stipulate that it is not permissible to launch any real estate contribution of any kind, or raise money for it, or make advertisement, or approving it, only after fulfilling the procedures and conditions contained in the regulations.

For getting an idea about the controls and terms related to launching real estate contributions, please visit the following link: click here.
Last Modified 25 Dec 2018