Riyadh has taken a new step towards enhancing the reliability of the real estate sector and consolidating the comprehensive digital transformation, after completing the declaration of all areas within its urban area for in-kind registration of real estate, within the framework of the real estate registry system aimed at providing a unified digital reference that supports transparency and increases the efficiency of real estate transactions.
Riyadh city took a new step towards enhancing the reliability of the real estate sector and consolidating the comprehensive digital transformation.
The General Authority for Real Estate announced last month that all areas within the urban area of Riyadh have been declared complete for real estate registration within the real estate registry system, establishing a unified digital reference that enhances the reliability and transparency of the real estate sector. According to the announced figures, the number of completed real estate areas reached 52 real estate areas, while the urban area included 1,250,240 properties, and 710,110 properties have been successfully registered so far.
The completion of the declaration contributes to full coverage of all properties in the capital within the real estate registration system, promoting the standardization of real estate data and increasing the efficiency of procedures related to the sector.
The real estate registry also supports the documentation of property ownership and real estate transactions through an approved digital platform, contributing to supporting the stability of the real estate market and enhancing the reliability of information related to it.
The real estate registry also supports the documentation of property ownership and real estate transactions through an accredited 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 stressed that the completion of the announcement is reflected in raising the competitiveness of the real estate sector in Riyadh locally and internationally, and provides a safe and stimulating environment to attract quality investments, thus reinforcing the capital's position as a growing investment destination in the real estate sector.
