Under the patronage of Minister of Justice Sheikh Dr. Walid bin Mohammed Al-Samaani, Deputy Minister of Justice Sheikh Saad bin Mohammed Al-Saif and His Excellency the Governor of the General Real Estate Authority, Mr. Essam bin Hamad Al-Mubarak, signed a cooperation agreement to develop real estate indicators based on data exchanged between them through advanced electronic channels that expedite the process ofand the publication of indicators for the purpose of developing the real estate sector and to contribute to conducting research and preparing studies and statistics in the field of real estate activities.
The agreement aims to automate transactions between the Ministry of Justice and the General Real Estate Authority, achieve the Ministry’s and the Authority’s objectives in real estate development, and provide specialized real estate studies to enhance the efficiency of the real estate sector in a manner that encourages investment in it and aligns with economic andsocial goals.
His Excellency the Deputy Minister of Justice expressed his hope that this partnership will bear fruit in the development of the real estate sector, thereby strengthening its economic presence and boosting commercial activity based on accurate and reliable data collected using the latest advanced digital tools, emphasizing that the Ministry of Justice is committed to building partnerships with government agencies and bodies to contribute to the development of this nation.
His Excellency the Deputy Minister noted that the Ministry has enabled citizens and investors to access detailed real estate indicators for regions, cities, and neighborhoods through the Ministry of Justice’s online portal, and has established a detailed daily database of real estate prices in the Kingdom, with the Ministry relying on its survey information systems to develop these indicators.
His Excellency Sheikh Saad Al-Saif explained that the Ministry of Justice’s real estate indicators allow real estate investors and relevant authorities to monitor inflation in the real estate sector and to analyze and track market stagnation and activity, thanks to the accurate and up-to-date data they provide on the volume of real estate transactions and actual prices.
For his part, His Excellency the Governor of the General Real Estate Authority expressed his sincere thanks and appreciation to His Excellency the Minister of Justice, Sheikh Dr. Walid bin Mohammed Al-Samaani; His Excellency the Deputy Minister of Justice, Sheikh Saad bin Mohammed Al-Saif; and the staff of the Ministry of Justice, whose efforts led to the conclusion of this agreement between the Ministry and the Authority, and he highly appreciated the significant support provided by the Ministry of Justice to the General Real Estate Authority to help it achieve its objectives.
