His Excellency the Minister of Justice, Dr. Walid bin Mohammed Al-Samaani, launched today in Riyadh, the Real Estate Exchange, in the presence of His Excellency the Minister of Communications and Information Technology, Engineer Abdullah bin Amer Al-Sawah.
The Real Estate Exchange facilitates the buying and selling of real estate with ease and convenience, while also enabling users to access mortgage services electronically, as well as services for the consolidation and sorting of real estate deeds and the updating of deeds.
The Ministry of Justice clarified that the Real Estate Exchange enhances the user experience and ensures transparency and reliability; it is also one of the outcomes of the "Digitization of Real Estate Assets" initiative, which is among the Ministry’s most prominent initiatives in the National Transformation Program.
Real Estate Wealth Management
The Real Estate Exchange enables users to manage their real estate assets and ensures transparency in real estate transactions by providing reliable information on transaction values for the geographic area specified by the user.
The Ministry confirmed that the Real Estate Exchange offers services for sorting and consolidating real estate deeds using the Real Estate ID, in collaboration with the Ministry of Municipal, Rural Affairs, and Housing and the Saudi Central Bank, This initiative is part of government integration efforts aimed at enhancing service quality and speed of delivery.
It noted that the Real Estate Exchange “srem.moj.gov.sa” can be accessed by entering an ID number (citizen, resident, or visitor), and the user will receive a verification code via the ”National Access” app, After logging in, the user specifies their role—whether they wish to use the exchange “on their own behalf” or “as an agent on behalf of another”—and can then access the exchange’s services.
Real Estate Exchange Services
The Exchange offers real estate trading services, which include (a private transaction—a deal between the owner and a specific buyer known to the seller in advance), (a gift to a specific person), or (an open transaction in which the buyer is not specified), as well as real estate listing services that categorize properties into three types (properties for sale, properties in demand, and available properties), through which interested buyers can submit their offers, in addition to deed update services.
