The Saudi Credit Bureau “SIMAH” is working to develop a real estate price index that will reflect actual real estate prices in Saudi Arabia. The company’s CEO, Nabil Al-Mubarak, confirmed during the launch of the Saudi Arabian Monetary Agency “SAMA Rating Agency,” which will operate under the supervision and oversight of the Saudi Capital Market Authority, that financing and real estate loans provided by private financial institutions will not be a source for measuring prices in the planned “SAMA” index.

Al-Mubarak revealed that more than 1,000 customers visit «Sama» daily, whether via the website, by phone, or through the mobile app, noting that the company aims to employ 70% Saudi men and women over the next five years, while acknowledging the negative perception within Saudi society regarding the company’s activities, though the credit records of both the company and individuals are positive.

Al-Mubarak stated that the real estate index on “Sama” will compete with other real estate indices available from other sources, noting the accuracy of the “Sama” real estate index due to the precision of the information that reflects the index’s trend.