Omar Al-Kindi: Stock exchange is a big business and a big term. But it doesn't affect the work of real estate brokers much

Fawaz Bashrahil: The stock exchange will have transparency and documented information that drives market movement for the benefit of all

Sultan Al Subaie: The use of artificial intelligence is required to filter fake offers and determine downward and upward ratios

Real estate and real estate specialists confirmed that the launch of «Real Estate Exchange» will cast a positive shadow on the real estate sector by trading real estate ownership through a <a href="https://srem.moj.gov.They appreciated the Ministry of Justice's endeavors to optimize the introduction of the exchange through the pilot version of the "Real Estate Exchange«, which indicates the importance of studying the experience and addressing the negatives and shortcomings that appear during the procedures of transferring ownership of the sukuk.

They appreciated the efforts of the Ministry of Justice to optimize the introduction of the exchange through the pilot version of the »Real Estate Exchange", which indicates the importance of studying the experience and addressing the negatives and shortcomings that appear during the procedures of transferring ownership of sukuk.

The newspaper »Amlak Real Estate" polled a number of real estate professionals and interested parties about the trial launch of the stock exchange and its impact on the real estate sector and its dealers, and came up with the following statements:

Canadian: Curbing bogus offers

Omar bin Hadi Al-Kindi, a specialist in real estate affairs, considered the launch of the real estate exchange an important qualitative leap in real estate transactions, stressing that it limits the phenomenon of price manipulation and fictitious offers and preserves rights, in addition to its many advantages such as speed of completion, discipline and high transparency provided by the exchange.

Omar bin Hadi Al-Kindi.

Al-Kindi explained that there are many sectors affected by this platform and will benefit greatly from the project, pointing out that the stock exchange is a platform similar to trading, although the term stock exchange amplifies its name, it does not affect the work of marketers and real estate brokers significantly, and indicated that this step is a complement to the project of the Ministry of Justice and the work of the Real Estate Authority to develop the digitization of real estate wealth in the Kingdom; in line with the vision of HRH Crown Prince Mohammed bin Salman 2030.

Al-Kindi pointed out that the exchange is a platform similar to trading, although the term stock exchange works to magnify its name, but it does not affect the work of marketers and brokers significantly.

Bashrahil: Real estate appraisers must be qualified

Fawaz Mohammed Bashrahil (Faran Holding Company) stressed that the real estate sector's view of the real estate stock exchange is the same optimistic view of the correction and comprehensive construction in the country, explaining that this step will restore the real estate movement and organize it and create regional and neighborhood work, and will control prices to serve the interest of the trader and the beneficiary, and the stock exchange will be transparent and documented information that leads the market movement to serve the interest of all and ensure the rights of the country in development.

Bashrahil stressed that the process of listing real estate will be available to all those interested and those wishing to buy and sell, stressing that putting it on the stock exchange will enhance the activity of the real estate market and will be an engine for all parties to the process of exchanging ownership of sukuk, and this new situation will be a reality that everyone must deal with to benefit, and he gave a vivid example of the stock exchange.

Bashrahil stressed that the listing process will be available to all those interested and wishing to buy and sell.

Bashrahil said that the obstacles facing the real estate exchange will be temporary, and the trial launch will determine the expected difficulties, and Bashrahil called for the need to qualify real estate evaluators and market participants with important rules specific to the Kingdom, referring to the rules and regulations for trading real estate in the cities of Mecca and Medina, because they have specifics related to the two sanctuaries and are characterized by the strength of marketing demand.

Bashrahil said that the obstacles facing the real estate exchange will be temporary, and the trial launch will determine the expected difficulties.

Subaei: Adjusting and controlling prices

Commenting on the launch of the real estate exchange, Sultan Al-Subaie, interested in real estate affairs, confirmed that it has a positive outlook and will transform the real estate sector into a distinctive digital sector, and will directly affect the control and control of real estate prices through credibility in the price and transparency in completing transactions. He pointed out that offering and requesting real estate through the stock exchange is not considered a removal of the work of the marketer or real estate broker or an alternative to them; but it falls within the framework of competition and at the same time the platform will provide services that the broker will benefit from, so it must be borne in mind that the stock exchange can be one of the means on which the real estate broker relies.

Subaey denied that there will be obstacles in completing deals, especially since the information of the deed of the offered property will be real by accepting the request from the Ministry of Justice, and this in turn will greatly reduce the number of fictitious offers, only there are regular procedures to transfer the ownership of the deed when all the required conditions are met, and Al-Subaey noted that the most important thing is to reach the agreement of the seller and the buyer, and the rest of the details do not think that there will be difficulty in reaching them.

Al-Subaie called for the importance of using artificial intelligence to filter fictitious offers and determine the rates of decline and rise to control the market, in order to besiege inflation and uncontrolled prices, and pointed out that working with high transparency contributes to the credibility of prices and tax evasion, and helps the buyer to buy at the lowest prices. At the end of his talk, Al-Subaie confirmed that the start of the exchange is successful and praised the idea of a trial launch that may be marred by some observations that help the official launch after they are addressed and modified.