The General Real Estate Authority announced the implementation of Real Estate Registration System will begin in Riyadh, as part of the system’s phased rollout across the cities targeted during the first phase.
Tariq Al-Hafzi, Deputy CEO of the Authority, explained that a number of mechanisms and criteria were established to identify the target cities, based on the availability of existing data, such as land-use plans, ownership records, and spatial data for properties.
The Authority’s Deputy Executive President clarified that establishing a real estate registry for all properties in the Kingdom and entering any property into the Real Property Registration System will be free of charge.
It is worth noting that last April, the Council of Ministers issued a decision approving the real estate registration system.
The issuance of the system is an extension of the attention and support the Kingdom’s real estate sector receives, with the aim of increasing the reliability of property ownership, enhancing the accuracy of real estate information, and to protect the rights of those involved in the sector, thereby achieving the objectives of the Kingdom’s Vision 2030 programs regarding digital transformation, the development of real estate wealth, and the enhancement of the sector’s investment appeal.
The system’s role is to unify the oversight of real property registration under a single authority in a simple and convenient manner, in accordance with international best practices, ensuring the accuracy of information and data for all types of real estate, and establishing a comprehensive real estate registry for all subsequent transactions following real estate registration in the Unified Real Estate Registry.
The real estate registration system includes a real estate registry that ensures new property owners are notified of all changes to the property description, such as construction, additions, or modifications, and the real property registration acquires absolute legal force one year after the date of publication of the owner lists, in addition to the creation of a registry linked to the real property records described on the map.
