The Public Investment Fund today launched the National Company for Real Estate Registration Services, "Real Estate Registry", which aims to contribute to the organization and development of the local real estate sector. The company will work through an integrated digital platform, in cooperation with the General Authority for Real Estate and a number of other government agencies, to create a comprehensive real estate registry for all real estate unit information, and to provide real estate registration services, in accordance with best practices in this sector.
The National Company for Real Estate Registration Services seeks to develop registration procedures and mechanisms in a way that contributes to improving the quality of services and ease of access for beneficiaries, by utilizing digital solutions to enhance operational efficiency and develop the real estate registry. An integrated registry of real estate units in the Kingdom will be established, including a digital database of all units (governmental, commercial, residential, agricultural) and linking ownership data with geographic information, which will contribute to the sustainability of the real estate sector and enhance transparency in real estate services and transactions arising from them.
The establishment of the National Company for Real Estate Registration Services comes in line with the Public Investment Fund’s strategy, which focuses on launching and enabling key sectors in the Kingdom, including the real estate sector, in addition to the Public Investment Fund’s initiative to advance sectors through advanced technological solutions, which contributes to achieving the goals of Vision 2030.
