Riyadh has taken a new step towards enhancing the reliability of the real estate sector and consolidating the comprehensive digital transformation, after the completion of the announcement of all areas within its urban scope for the real estate registration, within the framework of the real estate registry system aimed at providing a unified digital reference that supports transparency and raises the efficiency of real estate transactions.
Last month, the General Authority for Real Estate announced the completion of the registration process for all areas within the Riyadh urban area under the Real Estate Registry system. This establishes a unified digital framework that enhances the reliability and transparency of the real estate sector. According to the announced figures, 52 real estate areas have been fully registered, encompassing 1,250,240 properties within the urban area, and 710,110 properties have been successfully registered to date.
The completion of the declaration contributes to a complete comprehensiveness that covers all properties in the capital within the real estate registration system, which enhances the unification of real estate data and raises the efficiency of procedures related to the sector.
The real estate registry also supports the documentation of ownership and the execution of real estate transactions through an approved digital platform, which contributes to supporting the stability of the real estate market and enhancing the reliability of the information related to it.
The authority affirmed that the completion of the announcement will enhance the competitiveness of the real estate sector in Riyadh both locally and globally, and will provide a safe and stimulating environment to attract quality investments, thereby strengthening the capital’s position as a growing investment destination in the real estate sector.
