The official spokesperson for the Real Estate Registry, Yazid Al-Yahya, confirmed that the Real Estate Registry continues to implement initiatives and enablers aimed at supporting real estate brokers and enabling them to perform their work more efficiently, while working on launching new initiatives that will be announced soon, which will enhance the real estate brokerage system and the digital transformation in the sector.
Al-Yahya said in exclusive statements to Amlak Real Estate Newspaper on the sidelines of the third edition of the Real Estate Mediation Forum that the real estate registry plays a key role in enabling the real estate sector during the digital transformation phase, noting that the real estate broker represents the pivotal link that connects the seller and the buyer, and plays a fundamental role in implementing various real estate transactions.
He added that the Real Estate Registry is continuously working to develop the enablers that support all pillars of the sector, foremost among them real estate brokerage, by providing solutions that contribute to facilitating the procedures of real estate brokers and enabling them to accomplish their tasks efficiently, noting that brokers have begun to directly handle real estate transactions and initial registration, which enhances their position and raises the level of reliability in the market.
Al-Yahya revealed that the Real Estate Registry is currently working on additional initiatives that will be announced in the future, which will benefit and contribute to the development of the real estate brokerage sector. Regarding the latest developments in the Real Estate Registry's operations, he explained that registration currently covers 10 regions across the Kingdom, with ongoing expansion into their respective cities and governorates. He emphasized the growing awareness among beneficiaries of the importance of property registration.
He pointed out that the number of issued real estate records exceeded 1.8 million records, while more than 4.9 million properties have been declared and are ready for the first real estate registration, with the continuation of awareness programs and geographical expansion.
He added that the city of Riyadh witnessed the completion of the transfer of all subsequent real estate transactions from the Ministry of Justice to the Real Estate Registry, expecting that new cities will soon be announced in which these competencies will be transferred in their entirety to the Real Estate Registry, within the framework of facilitating the beneficiary’s journey and accelerating registration procedures.
Al-Yahya stressed that the Real Estate Registry continues to implement its plans to achieve its strategic target of registering 80% of the Kingdom’s properties by 2028, calling on real estate brokers to continue their role in raising awareness and encouraging property owners to complete the first real estate registration procedures, given its importance in developing the real estate sector.
