‎REGA approves regulatory sandbox framework

‎REGA approves regulatory sandbox framework ‎REGA approves regulatory sandbox framework

​‎

Real Estate General Authority(REGA) approved a regulatory framework for a real estate sandbox, aimed at enabling controlled testing of innovative real estate tech solutions before their launch in the open market.

According to the framework, the sandbox provides a flexible, supervised environment allowing participants to pilot advanced real estate technology models under specific conditions, in line with the sector’s broader strategy. Temporary permits will be issued for a limited period, enabling testing on a defined customer segment.

Advertisement

The initiative seeks to support innovation, help participants refine models and meet market-entry requirements, enhance market readiness for new technologies, modernize regulations, and allow the authority to collect and analyze data to improve oversight.

Eligibility is limited to highly innovative, value-adding solutions that deliver tangible benefits and have reached an advanced level of operational readiness, particularly models not currently covered by existing regulations.

The sandbox will run through four phases: application (up to 30 working days), readiness assessment (up to 120 working days), testing (6–24 months), and exit, which may result in market launch, further development, reapplication, or termination if the model proves unviable or unsafe.

REGA stressed that acceptance into the sandbox does not constitute full regulatory approval or exemption from compliance, and participants bear full responsibility for any harm arising from testing.

 

Real Estate General Authority(REGA) approved a regulatory framework for a real estate sandbox, aimed at enabling controlled testing of innovative real estate tech solutions before their launch in the open market.

According to the framework, the sandbox provides a flexible, supervised environment allowing participants to pilot advanced real estate technology models under specific conditions, in line with the sector’s broader strategy. Temporary permits will be issued for a limited period, enabling testing on a defined customer segment.

The initiative seeks to support innovation, help participants refine models and meet market-entry requirements, enhance market readiness for new technologies, modernize regulations, and allow the authority to collect and analyze data to improve oversight.

Eligibility is limited to highly innovative, value-adding solutions that deliver tangible benefits and have reached an advanced level of operational readiness, particularly models not currently covered by existing regulations.

The sandbox will run through four phases: application (up to 30 working days), readiness assessment (up to 120 working days), testing (6–24 months), and exit, which may result in market launch, further development, reapplication, or termination if the model proves unviable or unsafe.

REGA stressed that acceptance into the sandbox does not constitute full regulatory approval or exemption from compliance, and participants bear full responsibility for any harm arising from testing.

Add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Keep Up to Date with our Weekly Newsletter

By pressing the Subscribe button, you confirm that you have read and are agreeing to our Privacy Policy and Terms of Use
Advertisement