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Saudi Arabia Launches Real Estate Registry, Indicators Platforms

Saudi Minister of Municipal and Rural Affairs and Housing and Chairman of the Board of Directors of the Real Estate General Authority Majid al-Hogail speaks at the Saudi Proptech Summit. (Asharq Al-Awsat)
Saudi Minister of Municipal and Rural Affairs and Housing and Chairman of the Board of Directors of the Real Estate General Authority Majid al-Hogail speaks at the Saudi Proptech Summit. (Asharq Al-Awsat)
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Saudi Arabia Launches Real Estate Registry, Indicators Platforms

Saudi Minister of Municipal and Rural Affairs and Housing and Chairman of the Board of Directors of the Real Estate General Authority Majid al-Hogail speaks at the Saudi Proptech Summit. (Asharq Al-Awsat)
Saudi Minister of Municipal and Rural Affairs and Housing and Chairman of the Board of Directors of the Real Estate General Authority Majid al-Hogail speaks at the Saudi Proptech Summit. (Asharq Al-Awsat)

Saudi Minister of Municipal and Rural Affairs and Housing and Chairman of the Board of Directors of the Real Estate General Authority Majid al-Hogail launched on Monday the Real Estate Registry platform and the Real Estate Indicators platform on the sidelines of the Saudi Proptech Summit.

Proptech Summit is the first conference specialized in real estate technologies aiming to digitize the sector to achieve Vision 2030 goals.

The event, which kicked off on Monday, will encompass a comprehensive review of the key technical advancements in the real estate sector, sharing beneficiaries' experiences, and engaging in discussion sessions and workshops with over 25 speakers representing 20 countries.

The summit will be complemented by a real estate technical exhibition featuring the involvement of local and international real estate and technical companies and platforms.

Speaking at the inauguration, Hogail stressed the importance of real estate technology and its role in developing the sector's future to reach a prosperous economy by providing an appropriate environment for growth, creating job opportunities, developing investments, and seizing great potential in the Kingdom.

The minister pointed out that real estate technologies support the culture of innovation, provide distinctive opportunities for the sector's growth, and help attract the best international expertise to be a platform that supports real estate technology.

He stressed that the launch of Proptech benefits from the promising potential of real estate empowers the private sector, and contributes to the development of projects and infrastructure.

The Real Estate General Authority enables real estate technology projects through legislation and regulations to open new markets that contribute to diversifying the income locals of the local economy and supporting the non-oil domestic product.

Digital transformation

CEO of the Real Estate General Authority, Abdullah al-Hammad, confirmed that real estate technologies are among the capabilities to boost real estate efficiency and effectiveness, enhancing its role in diversifying sources of income and maximizing the benefits from digital transformation in various fields.

Hammad noted that mega Saudi real estate projects, which are constantly being announced, prove real estate technology is the future, which ensures the application of sustainability standards and enhances the quality of life.

Data bank

CEO of Real Estate Registry Mohammad al-Sulaiman confirmed that launching the platform aims to attract investments by enhancing user experience with qualitative and accurate information.

Sulaiman told Asharq Al-Awsat that the Real Estate Registry platform is expected to cover Riyadh city in 2024 and will gradually include all regions.

The commercial registry platform covers all relevant services that include changing ownership and selling and real estate management services such as sorting and merging.

Sulaiman explained that the registry also covers rights management services such as mortgage, endowment, and management services for correcting data.

The platform provides quick and effective access to the primary information related to real estate and transactions through a digital data bank, enabling investors and owners to complete real estate transactions in a safe and reliable environment.

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Three Saudi-Yemeni Companies Established in Energy, Telecom to Support Yemen's Reconstruction

The Saudi-Yemeni Business Council holds meeting in Makkah, announces strategic initiatives (Asharq Al-Awsat)
The Saudi-Yemeni Business Council holds meeting in Makkah, announces strategic initiatives (Asharq Al-Awsat)
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Three Saudi-Yemeni Companies Established in Energy, Telecom to Support Yemen's Reconstruction

The Saudi-Yemeni Business Council holds meeting in Makkah, announces strategic initiatives (Asharq Al-Awsat)
The Saudi-Yemeni Business Council holds meeting in Makkah, announces strategic initiatives (Asharq Al-Awsat)

The Saudi-Yemeni Business Council, part of the Federation of Saudi Chambers, announced six initiatives to boost trade and support Yemen’s economic development at a meeting in Makkah, Saudi Arabia.
Over 300 Saudi and Yemeni investors attended, agreeing to establish three companies to help rebuild Yemen and improve its infrastructure.
The initiatives include upgrading border crossings to improve logistics and increase trade, currently valued at 6.3 billion riyals ($1.6 billion). Yemen’s exports to Saudi Arabia, worth only 655 million riyals ($174.6 million), highlight untapped potential in mining, agriculture, livestock, and fisheries.
Key recommendations to enhance trade and support Yemen’s economic recovery include setting up quarantine facilities for Yemeni livestock and agricultural products to increase exports, as well as building smart food cities near border areas to improve food security and sustainable cooperation.
The Council urged action to address banking challenges faced by traders, suggesting reforms in Yemen’s financial sector and stronger ties with Saudi banks. It also proposed creating a club for Yemeni investors in Saudi Arabia to encourage joint projects and partnerships.
Three new Saudi-Yemeni companies will be established. One will invest $100 million in solar energy to provide sustainable electricity in Yemen. Another will focus on boosting telecommunications via Starlink satellite services. The third will organize events to promote Saudi products and support Yemen’s reconstruction.
Speaking to Asharq Al-Awsat, Council President Dr. Abdullah bin Mahfouz emphasized the private sector’s critical role in stabilizing Yemen’s economy and society through investments that support development, create jobs, improve infrastructure, and promote small and medium-sized enterprises (SMEs).
He stressed the importance of empowering Yemeni entrepreneurs and securing funding for reconstruction projects, encouraging public-private partnerships to execute large-scale initiatives under the Build-Operate-Transfer (BOT) model.
The Makkah meeting ended with agreements between Saudi and Yemeni companies to develop key sectors such as energy, agriculture, and infrastructure.
Streamlined customs, improved logistics, and upgraded Yemeni ports and airports were also highlighted as priorities to facilitate trade.
Yemeni delegation leader Abdulmajid al-Saadi, praised Saudi Arabia’s new investment law, noting Yemeni investments in the Kingdom have reached 18 billion riyals ($4.8 billion), ranking third among foreign investors.