Saudi Justice Minister Walid Al-Samaani inaugurated the "Real Estate Market" platform in Riyadh to facilitate real estate transactions and provide various e-services for property owners and buyers.
Attending was also Minister of Communications and Information Technology Abdullah Al-Swaha.
According to the Ministry of Justice, the real estate market aims to enhance customer experience and achieve transparency and reliability in the real estate sector in the Kingdom.
"It is part of the Real Estate Wealth Digitization initiative, which is one of the ministry’s projects under the national transformation program," the ministry's press release said.
In cooperation with the Ministry of Municipal and Rural Affairs and the Saudi Central Bank, the platform enables users to access reliable information about the value of real estate transactions in any geographical area they choose. It also enables them to manage their property portfolio and perform divisions and mergers of title deeds using the real estate identity." SPA reported.
The platform offers various real estate trading services, such as "special transaction" between a specific seller and buyer, "real estate gift" to a specific recipient, and "open transaction" without a predetermined buyer. It also allows users to browse and bid for real estate offers, which are classified in three categories: offered, available and in-demand.
