The Real Estate Registry announced the signing of a Memorandum of Understanding (MoU) with Thiqa to strengthen the partnership in the field of digital services and smart solutions, in order to develop and implement real estate registration works, contributing to accelerating registration processes and achieving the targets of registering 80% properties within 5 years.

According to the Real Estate Registry <According to Real Estate Registry, the MoU aims to modernize paper sukuk and convert them into electronic sukuk, in addition to enhancing the exchange of real estate data and cadastral decisions between the two parties. It is planned to enable beneficiaries in the declared areas to register their properties electronically through the Land Registry platform, according to the Saudi Press Agency (SPA).

The Land Registry seeks to modernize paper deeds and convert them into electronic deeds. Through this memorandum, the Land Registry seeks to develop smart technical solutions, utilizing Thiqa's expertise in this field, in line with its objectives of establishing a comprehensive real estate registry for all properties in the Kingdom in accordance with the real estate registration system, in addition to building an advanced digital platform in line with the national digital transformation.

The memorandum of understanding was signed by Thiqa and the Land Registry. <The MoU was signed by Abdullah bin Saeed, CEO of the Commercial Sector at Land Registry, and Badr Al Omari, CEO of Strategic Partnerships and Commercial Sector at Thiqa.