The Real Estate Registry signed three agreements today, Sunday, on the sidelines of the first day of the PropTech 24 Global Summit, to enable real estate technology companies (Aqar, Spatial Technologies, and real estate brokers) to innovate products and quality indicators that enrich the real estate sector.
The three agreements aim to enhance transparency and reliability in the real estate sector, encourage real estate technology companies to innovate products and services that enrich the sector, facilitate access to real estate data, and enable property owners and investors to make data-driven decisions.
The CEO of the Real Estate Registry Dr. Mohammed Al-Suleiman, in the events of the first day of the Global PropTech Summit, noting that the Real Estate Registry relies on the latest technologies and applies globally recognized best practices in real estate registration to establish the registry.
Al-Suleiman said during his speech at the summit’s opening that the Land Registry has created a real estate map with centimeter-level accuracy, the first of its kind in the Kingdom.
Al-Suleiman announced the launch of a strategy to empower the real estate technology sector, aimed at enabling real estate technology companies to innovate value-added products and services
for the sector.
He continued: “We have launched a technical integration initiative using an API, which allows real estate technology companies to leverage reliable real estate data such as verification and inquiry services and real estate transaction data.”
He said that agreements have been signed with six real estate technology companies within the “Sandbox” pilot environment to leverage data and information on real estate properties and transactions.
Al-Suleiman noted that the massive data provided by the Real Estate Registry will serve as a reliable source of information for all sectors, enabling them to make decisions based on numbers and facts.
He emphasized that the Real Estate Registry is the choice of real estate technology companies for obtaining data and information they can rely on to provide innovative solutions and services to their clients.
The Saudi capital, Riyadh, is hosting the “Global PropTech Summit” throughout Sunday and Monday, organized by General Real Estate Authority Under the patronage of His Excellency the Minister of Municipalities and Housing, Mr. Majed bin Abdullah Al-Hogail, and in strategic partnership with the National Housing Company (NHC). The summit is witnessing a large turnout of prominent figures, global experts, and specialists in the fields of real estate and real estate technology, in addition to more than 100 speakers representing 80 countries, who will share their experiences and expertise with thought leaders and CEOs of major real estate and real estate technology companies, as well as investors from around the world.
The summit’s discussions center on the digital transformation journey in the real estate sector and the role of emerging technologies in shaping the future of “PropTech,” as well as the latest innovations in modern construction technologies, virtual reality, and artificial intelligence, which contribute to the automation of real estate operations and services. The summit also highlights the applications of “proptech” solutions in urban development and their role in making smarter decisions to enhance investments and financial sustainability.
