The real estate sector began to organize and develop rapidly through systems, regulations, specialized bodies, accredited courses, classification and the emergence of real estate platforms and we rejoiced at the pilot launch the real estate exchange by the Ministry of Justice, which is a real addition to the market and to raise the level of transparency, quality, credibility and speed of completion, and it is an integrated digital transformation, or a notary providing its services in the vast Internet space.
The real estate sector began to organize and develop rapidly through regulations, regulations, specialized bodies, accredited courses, classification, and the emergence of real estate platforms.
It is expected that the impact of the stock exchange will be direct and rapid in controlling real estate prices through direct sales through the platform, which enhances transparency in highlighting the most traded areas in the Kingdom's real estate market, ensures the accuracy of information and the confidence of traded instruments and the speed of their exchange, and adjusts the relationship between seller and buyer away from intermediaries and reduces market manipulation, which positively affects real estate prices in the Kingdom.
The exchange is a real addition to the market and to raise the level of transparency, quality, credibility and speed of completion.
Therefore, those interested in the real estate sector, especially real estate brokerage, must take advantage of this opportunity and develop themselves and their offices, because the future requires development and keeping pace with the speed of technology to upgrade the business, especially since licensed real estate brokers and those who complete the courses and classification are the ones who will benefit from the platform, as well as accredited evaluators, and the presence of this exchange will complement these accredited professions, and many relationships that have intersections will become clear after the official launch of this exchange, especially in the field of consulting, marketing and evaluation.
After the launch of this exchange, there will be many relationships that have intersections, especially in the field of consulting, marketing and evaluation.
The general linking of cities and villages in the Kingdom in a digital platform is considered one of the most important benefits of the exchange, and there will be new transactions directly between the seller and the buyer, implementation through national access, transfer of the purchase amount to an escrow account of the notary (electronic method) and the process is done in the fastest time, as well as showing sukuk data, sale offer, mortgage services, purchase request, inquiry about sukuk, real estate instrument update, and a brief daily, monthly and annual index.
We expect that after the exchange is professionally completed, it will eliminate previous irregularities such as sham sales and others.
*Chief Executive Officer and Partner
Evaluation Standards Company
