<His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, presided over the Cabinet's session held today in Riyadh. <The Cabinet approved amending some articles of the Real Estate Registration Law, as stated in the decision. The Cabinet also approved the Financial Supervision Law and the Sports Law.

For his part, His Excellency the Minister of Municipalities and Housing, Mr. Majid bin Abdullah Al-Hogail, thanked the Council of Ministers for approving the new amendments to the Real Estate Registration Law, in a step that enhances the reliability of the real estate sector and raises the efficiency of its investment environment.

For his part, H.E. Al-Hogail said. Al-Haqeel said in a tweet on his Xbox account that the amendments included reducing the period of acquiring “absolute authenticity” and enhancing the protection of personal data by publishing lists of properties instead of lists of owners, which reflects positively on the property registration experience, preserves the privacy of owners, and is consistent with the objectives of the comprehensive strategy for the real estate sector."

Haqeel said in a tweet on his Xbox account. The General Authority for Real Estate said that the new amendments to the Real Estate Registration Law reflect the accuracy and reliability of real estate data by accelerating the acquisition of ”absolute authenticity" and establishing the principles of privacy by protecting owners" personal data.

<The Authority explained that the amendment in the aspect of enhancing the reliability of ownership data is that the deeds acquire absolute authenticity within a period not exceeding one year from the date of publication of the lists of properties registered in kind, and this period is determined in the decision to declare each real estate area. <It noted that the effect of this is to contribute to reducing the period of acquiring absolute authenticity and accelerating the reliability of real estate deeds registered in kind. <Regarding the protection of personal data, the Authority noted that the amendment is to publish lists of real estate registered in kind by appropriate means determined by the regulation. The Real Estate Authority emphasized that this amendment is consistent with the nature of in rem rights that focus on the property itself, which protects the personal data of the owners and increases the quality and reliability of the real estate registry.