Real Estate – The Ministry of Justice has launched an automated online process that allows sellers and buyers to complete real estate conveyance procedures around the clock, The service includes automatically agreeing on the details of the sale without the need for approval from a notary public or a notary, through the “Najiz.“
The Ministry previously added a number of banks to the electronic real estate conveyance service, now including customers of Al-Inmaa Bank and Al-Rajhi Bank, in addition to the National Commercial Bank, in cooperation with the Saudi Central Bank.
It raised the upper limit on the value of properties that owners wish to transfer electronically from 1 million riyals to 3 million riyals as part of its plan to facilitate the buying and selling of real estate through a fully electronic process, thereby making it easier for beneficiaries and saving them time and effort. It has also made available a service to verify bank account ownership, in addition to verifying payment of real estate transaction tax.
The Ministry of Justice affirmed its commitment to moving forward and continuing to enhance technology and provide the best Innovative digital solutions designed to serve beneficiaries and streamline procedures for them, as the Ministry of Justice works on a series of development initiatives and reforms that have improved the efficiency of notarization and real estate security.
