Digital technology has become the cornerstone of modernizing various sectors in Saudi Arabia, especially the real estate sector. With the launch of the Real Estate Exchange, a qualitative digital transformation has redefined the way of working in this sector, contributing to increasing efficiency and achieving unprecedented achievements in terms of judicial and real estate services. According to the Digital Government Authority's Digital Transformation Benchmarking Report 2024, the total amount traded for completed applications through the Real Estate Exchange has reached about 1.5 trillion riyals, while more than 237 million real estate documents have been digitized, indicating the deep transformation of the sector.
Since the launch of the Real Estate Exchange platform, a digital transformation has taken place that redefines the way the sector works, contributing to increasing efficiency and achieving unprecedented achievements. <Since the launch of the Real Estate Exchange, digitization has significantly impacted the way of working within the Ministry of Justice. More than 740,000 real estate trading requests have been processed through the platform, including sales, mortgages, sorting, and mergers, without human intervention, reducing the time required to complete transactions and enhancing transparency.
As part of the digital development, the Ministry of Justice has also introduced the Real Estate Exchange platform. Within the framework of digital development, the Ministry received and processed more than 2.77 million requests to update old paper sukuk, of which 1.42 million were fully updated through e-services, allowing beneficiaries to carry out these operations easily and without the need for physical presence.
The "Qiyasat” program aims to reduce the time to complete transactions and enhance transparency. <The "Measuring Digital Transformation" program aims to achieve a radical transformation in the performance of government agencies by adhering to digital standards, improving the quality of services provided, and contributing to raising the Kingdom's ranking on global indicators. It also focuses on enhancing operational efficiency and supporting the major development goals of the Kingdom's Vision 2030.
