The Public Authority for Real Estate (P.A.R.E.) <The Authority invited owners of properties located within the following neighborhoods: “Al-Ma'azir Al-Shamali, Al-Maraba, Al-Malaz, Al-Alia, Al-Numaria, Al-Zahraa, Al-Nasiriyah, Al-Conference, Al-Obtab, Taiba, and Namar neighborhoods”, to quickly register their properties through Real Estate Registry Platform before the registration period expires to benefit from real estate transaction services and document all changes that occur to the property.
The Authority explained that the registration process for the 11 neighborhoods in Riyadh will be completed by next Thursday. The Authority explained that the in-kind registration of real estate allows the issuance of a “real estate number” and a title deed for each real estate unit that is registered. The new title deed includes the exact geographical location of the property, its owner's data, its description, its condition, its rights and obligations and all real estate transactions that occur on it, to be the basis for documenting ownership and the real estate rights resulting from it, which contributes to the sustainability and promotion of the growth of the real estate sector and its key enablers.
The Authority stressed that the registration of real estate in-kind enables the issuance of a real estate number and a title deed for each real estate unit that is registered. The Authority emphasized that failure to register properties within the period specified in the announcement decision exposes their owners to the financial penalties stipulated in the Real Estate Registration System, which is determined by a committee specialized in considering violations, and that requests for real estate registration continue in all declared areas even after the expiration of the registration period specified in the announcement decision.
It is worth mentioning that the National Company for Real Estate Registration Services “Real Estate Registry” undertakes the task of implementing the establishment and management of 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.
National Company for Real Estate Registration Services "Real Estate Registry
