General Real Estate Authority that the deadline for the first in-kind registration of real estate in six neighborhoods in Madinah is approaching, specifically by the end of Thursday, October 3, 2024, corresponding to 30 Rabi" al-Awwal 1446 AH.These neighborhoods are: (part of King Fahd neighborhood, part of Al-Aqool neighborhood, part of Juma" Umm Khalid neighborhood, Sikka Al-Hadid neighborhood, part of Al-Khadra neighborhood, and part of Abiar Al-Mashi neighborhood).
The Authority called on property owners within these neighborhoods to promptly register their properties through the Land Registry Platform rer.sa before the registration deadline expires to benefit from services for executing real estate transactions and documenting all changes to the property.
It explained that the physical registration of the property allows for the issuance of a “property number” and a title deed for each registered property unit, and the new title deed includes the property’s precise geographic location, owner information, descriptions, condition, associated rights and obligations, and all real estate transactions affecting it, serving as the basis for documenting ownership and the associated real estate rights, thereby contributing to the sustainability and promotion of the real estate sector’s growth and its key drivers.
The Authority emphasized that failure to register real estate within the period specified in the announcement exposes owners to financial penalties set forth in the Real Estate Registration System, as determined by a committee specialized in reviewing violations, and that applications for real estate registration will continue in all designated areas even after the registration period specified in the announcement expires.
It is worth noting that the National Company for Real Estate Registration Services (the Real Estate Registry) is responsible for establishing and managing the real estate registry in the Kingdom using modern technologies and geospatial data through an integrated digital platform that contributes to enhancing transparency and confidence in real estate services and data.
