Minister of Municipalities and Housing Minister of Municipalities and Housing, Chairman of the Board of Directors of the General Authority for Real Estate and Chairman of the National Company for Real Estate Registration Services (Real Estate Registry), Majid bin Abdullah Al-Hogail, announced the success of the Real Estate Registry in issuing one million real estate records, in addition to the number of properties declared for real estate registration exceeding more than 3 million real estate pieces across the Kingdom.
This achievement contributes to enhancing transparency and reliability in the real estate sector, and preserving the rights of owners. This achievement contributes to enhancing transparency and reliability in the real estate sector, preserving the rights of owners, and reflects the Kingdom's commitment to developing the real estate sector in line with the targets of the Kingdom's Vision 2030 in digitizing the sector.
Haqeel stressed that the Real Estate Registry has succeeded in issuing one million real estate records. Al-Hogail stressed that this achievement is an important step towards building a modern and reliable real estate sector, pointing out that the Real Estate Registration System is a quantum leap in preserving the history of real estate in accurate records that include its descriptions, legal and physical condition, as well as its geospatial locations, enabling the application of global best practices in building smart cities and sustainable urban communities.
Hogail added that this achievement is an important step towards building a modern and reliable real estate sector, noting that the Real Estate Registration System is a quantum leap in preserving real estate history in accurate records. Al-Haqeel added that the next phase will witness a major expansion in all cities and regions of the Kingdom, including expanding the scope of digital services, ensuring a smooth and safe experience for owners and investors. This development also strengthens the Kingdom's position as a global real estate investment destination and enhances the competitiveness of the Saudi real estate sector at the regional and international levels.
Haqeel added. For his part, the CEO of the General Real Estate Authority, Engineer Abdullah bin Saud Al Hammad, explained that the real estate registration system contributes significantly to preserving the history of real estate in accurate records, which enhances the building of a sustainable real estate sector in accordance with international best practices, and contributes to achieving the objectives of the comprehensive strategy for the real estate sector.
For his part, the CEO of the General Authority for Real Estate, Eng.
Issuing one million real estate records
Dr. Mohammed Al-Sulaiman, CEO of the National Company for Real Estate Registration Services (Real Estate Registry), stressed that issuing one million real estate records in a short period of time is a qualitative leap towards achieving the objectives of the Real Estate Registry in line with the Kingdom's ambitions to achieve economic diversification.He explained that each issued real estate record combines the legal power of the deed through its absolute authenticity after a year, in addition to the real estate newspaper that saves the property's accurate geospatial data, which enhances confidence in real estate transactions.
Dr. Mohammed Al-Sulaiman The Real Estate Registry seeks to build an integrated system that complies with the latest international practices in the fields of governance and digitization, and continues to expand to include all cities and regions of the Kingdom, which enhances the reliability of the real estate market and contributes to attracting local and international investments, in support of the comprehensive development process within the framework of the Kingdom's Vision 2030.
