The Kingdom of Saudi Arabia has witnessed an acceleration in the digital transformation of the real estate sector in recent years, which came in line with the objectives of Vision 2030, which put innovation and technology as a key axis in economic and social development, as it can be said that digital transformation in real estate management in the Kingdom is not just a technical trend but a national strategy with a promising impact on the economy and society.

Main axes of digital transformation in real estate management

According to the Ministry of Justice, real estate documentation operations increased by about 44% during the first five months of the current Hijri year compared to the same period last year, where about 650 thousand documentation operations were carried out, including sorting, updating, registering ownership, releasing mortgages, and merging sukuk.

The National Company for Real Estate Documentation has been launched. The National Company for Real Estate Registration was launched with the aim of developing a digital integrated real estate register for all real estate units with ownership data to give each property an independent record number. The General Authority for Real Estate also launched digital real estate indicators showing sales and rents data at the level of cities and neighborhoods of the Kingdom, which contributed to enhancing the transparency of the real estate market.

The General Authority for Real Estate launched digital real estate indicators showing sales and rents data at the level of cities and neighborhoods in the Kingdom, which contributed to enhancing the transparency of the real estate market. The Real Estate Authority also launched the Saudi Proptech Center, which provided a number of initiatives to support innovation and ease the entry of startups into the market, and the Ministry of Justice's electronic services related to the real estate sector contributed to reducing the time and effort of the beneficiary and increasing the efficiency of real estate documentation.

The statistics of the Ministry of Justice related to the real estate sector indicate that it has contributed to enhancing the transparency of the real estate market. According to the statistics of the Ministry of Justice and the General Real Estate Authority, the contribution of the digital economy to GDP has reached more than 7%.

Digitalization has benefited the UAE's economy. <The digital transformation has brought a number of benefits to the real estate market, including: Increased transparency in the sector, helping citizens and investors to make decisions based on clear data, speeding up procedures and reducing obstacles, reducing financial and time costs, as well as enhancing confidence in real estate transactions as a result of a reliable digital real estate record.

The digital transformation has brought a number of benefits to the real estate market.