Documentation of Sukuk enhances the security of the real estate market

<The seminar «Information Transparency in Sukuk Trading» organized by the Chamber of Commerce and Industry in Jeddah revealed that the value of real estate facilities being constructed in the Kingdom during the current year is not less than 200 billion riyals in light of the growth of the real estate market during the next few years significantly. Participants emphasized the need to train workers in brokerage companies on how and how the sukuk market works. The participants agreed that brokerage firms should be trained on how the Sukuk market works under the umbrella of the Saudi Capital Market Authority «Tadawul», which contributes to facilitating investors« dealings with these investment instruments, and allowing them to diversify their investments.

Sheikh Abdullah bin Ahmed Al-Qubaie denied that the regulations set by the state in this regard have an issue or deficiency, but the issue is in the implementation and application, and pointed out that protecting the rights of buyers and traders is carried out in stages such as verifying official documents such as agencies, heirs and others and ensuring their validity, in addition to implementing the mechanism of land inspection and ensuring its validity.

The Deputy Chief of the First Notary, Sheikh Abdullah bin Ahmed Al-Qubaie, praised the work of the Sukuk market and the automated bonds under the umbrella of the Saudi Stock Exchange Commission (Tadawul). On the other hand, Khalid Al-Ghamdi, Chairman of the Real Estate Committee at the Jeddah Chamber, praised the keenness of the government of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud to provide suitable housing for citizens, pointing out that the number of housing units required is 250 thousand housing units per year.

On the other hand, the Chairman of the Real Estate Committee at the Jeddah Chamber praised the keenness of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud - may God protect him - to provide suitable housing for citizens. <Sheikh Abdulrahman bin Abdulaziz Al-Husseini, President of the General Court of Jeddah, praised the recent regulations in favor of real estate, which represents an economic and social importance, starting from the mortgage and real estate supply and ending with the decision of the Council of Ministers to impose fees on white lands. He emphasized that the role of the judicial authorities is centered on documenting real estate instruments and enhancing the security of the real estate market in cooperation with the Jeddah Municipality to provide full protection for traders in the market, summarizing the tasks of the Execution Court in selling instruments by implementing a judicial ruling or paying a certain debt or being mortgaged through public auctions and verifying these instruments and cooperating with the Jeddah Municipality and the Chamber of Commerce to reach real estate appraisers.

<For his part, Sheikh Dr. Ali Mushrif Al-Shehri, President of the Execution Court in the province, highlighted the objectives of the symposium, which is in the spirit of integration with the relevant authorities and serves the interest of the country and the citizen and the advancement of the development process in the Kingdom. He stressed that the role of the judicial authorities is focused on documenting real estate instruments and enhancing the security of the real estate market in cooperation with the Jeddah Municipality to provide full protection for traders in the market, summarizing the tasks of the Execution Court in selling instruments by executing a court ruling or paying a certain debt or being mortgaged through public auctions and verification of these instruments and cooperation with the Jeddah Municipality and the Chamber of Commerce to reach real estate appraisers.

The seminar discussed the role of the judicial authorities in documenting real estate instruments. During the seminar, the most important topics on »Transparency of Information in Sukuk Trading" were discussed, which focused on protecting dealers in the real estate market and inflation in the real estate sector, addressing the recession in real estate activity, achieving transparency in providing economic information for real estate activity, and eliminating rumors and information that is not based on an official and real source.

The symposium discussed the most important topics on "Transparency of Information in Sukuk Trading".