عربي English Türkçe اردو فارسى
Logo
Latest News
Business

PIF Launches National Real Estate Registration Services Co.

The new Saudi company will create an integrated register of real estate units and link them with geographical information (Asharq Al-Awsat)
The new Saudi company will create an integrated register of real estate units and link them with geographical information (Asharq Al-Awsat)
TT
TT

PIF Launches National Real Estate Registration Services Co.

The new Saudi company will create an integrated register of real estate units and link them with geographical information (Asharq Al-Awsat)
The new Saudi company will create an integrated register of real estate units and link them with geographical information (Asharq Al-Awsat)

Saudi Arabia’s Public Investment Fund (PIF) has launched the National Real Estate Registration Services Co. to help regulate and develop the local real estate sector through a comprehensive digital platform.

Real estate experts confirmed to Asharq Al-Awsat that the Kingdom is working to facilitate accurate property documentation procedures.

This will stimulate the private sector and national and foreign capital to invest in and develop the Kingdom’s real estate sector so that it matches Saudi aspirations for the next stage.

Last week, Saudi Arabia issued executive regulations for the real estate registration system, with the aim of building an e-registry of lands and properties.

The Minister of Municipal and Rural Affairs and Housing Majed Al-Hogail said that the launch of the new company is a qualitative step that will enhance reliability and transparency in real estate ownership.

Al-Hogail also noted that the National Real Estate Registration Services Co. will help in reducing disputes by building a real estate registry.

For his part, Abdullah Al-Hammad, CEO of the General Real Estate Authority, stated that the launch of the company aligns with PIF’s goals for launching and empowering main sectors to play their role in raising the domestic product and increasing non-oil revenues.

Al-Hammad stated that the company aims to develop procedures and mechanisms for real estate registration. This contributes to enabling and raising the efficiency of the real estate sector and enhances reliability and transparency in services and data by creating an integrated registry that includes an advanced digital database.

Additionally, the move is an important stage in increasing the reliability of ownership, enhancing the accuracy of information about the property, and preserving the rights of dealers in the sector.

Muhammad Al-Murshed, member of the Real Estate Committee in the Chamber of Commerce in Riyadh, told Asharq Al-Awsat that the new company will regulate the sector and facilitate the procedures for documenting property ownership.

Moreover, the National Real Estate Registration Services Co. will stimulate local and foreign capital to enter the Saudi market.

Al-Murshed pointed to the importance of complementary work between the new company and competent authorities to achieve Saudi goals for increasing the reliability and transparency of the local market and reducing real estate disputes.

Launching company also reflects positively on the country's future mega projects and the provision of housing units that suit the beneficiaries of the Ministry of Housing.

Menassat Realty Co. CEO Khalid al-Mubayad said that the goal of the new company is to coordinate between the relevant government agencies and the private sector.

Therefore, the company will search for strategic partnerships with some major real estate developers to facilitate the documentation and in-kind registration of housing units.

The new platform will help build a comprehensive digital database of all public, residential, commercial, and agricultural properties across the Kingdom and ensure transparency in the sector.

The company will also improve the quality of services and access for beneficiaries by developing procedures and mechanisms for registration.

“The new company’s use of advanced digital solutions in its operations, enabling it to link its platform to all relevant government entities, will enhance reliability and transparency in real estate services and data in Saudi Arabia,” said Raid Ismail, co-head of MENA Direct Investments at PIF.

He added that the launch of the company will also increase the attractiveness of the investment ecosystem, and boost the value of national real estate assets.

Most Viewed

 
 
Business

IMF and Arab Monetary Fund Sign MoU to Enhance Cooperation

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
TT
TT

IMF and Arab Monetary Fund Sign MoU to Enhance Cooperation

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA

The International Monetary Fund (IMF) and the Arab Monetary Fund (AMF) signed a memorandum of understanding (MoU) on the sidelines of the AlUla Conference on Emerging Market Economies (EME) to enhance cooperation between the two institutions.

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki, SPA reported.

The agreement aims to strengthen coordination in economic and financial policy areas, including surveillance and lending activities, data and analytical exchange, capacity building, and the provision of technical assistance, in support of regional financial and economic stability.

Both sides affirmed that the MoU represents an important step toward deepening their strategic partnership and strengthening the regional financial safety net, serving member countries and enhancing their ability to address economic challenges.

Business

Saudi Chambers Federation Announces First Saudi-Kuwaiti Business Council

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT
TT
TT

Saudi Chambers Federation Announces First Saudi-Kuwaiti Business Council

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT

The Federation of Saudi Chambers announced the formation of the first joint Saudi-Kuwaiti Business Council for its inaugural term (1447–1451 AH) and the election of Salman bin Hassan Al-Oqayel as its chairman.

Al-Oqayel said the council’s formation marks a pivotal milestone in economic relations between Saudi Arabia and Kuwait, reflecting a practical approach to enabling the business sectors in both countries to capitalize on promising investment opportunities and strengthen bilateral trade and investment partnerships, SPA reported.

He noted that trade between Saudi Arabia and Kuwait reached approximately SAR9.5 billion by the end of November 2025, including SAR8 billion in Saudi exports and SAR1.5 billion in Kuwaiti imports.

Business

Leading Harvard Trade Economist Says Saudi Arabia Holds Key to Success in Fragmented Global Economy

Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
TT
TT

Leading Harvard Trade Economist Says Saudi Arabia Holds Key to Success in Fragmented Global Economy

Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).

Harvard University economics professor Pol Antràs said Saudi Arabia represents an exceptional model in the shifting global trade landscape, differing fundamentally from traditional emerging-market frameworks. He also stressed that globalization has not ended but has instead re-formed into what he describes as fragmented integration.

Speaking to Asharq Al-Awsat on the sidelines of the AlUla Conference for Emerging Market Economies, Antràs said Saudi Arabia’s Vision-driven structural reforms position the Kingdom to benefit from the ongoing phase of fragmented integration, adding that the country’s strategic focus on logistics transformation and artificial intelligence constitutes a key engine for sustainable growth that extends beyond the volatility of global crises.

Antràs, the Robert G. Ory Professor of Economics at Harvard University, is one of the leading contemporary theorists of international trade. His research, which reshaped understanding of global value chains, focuses on how firms organize cross-border production and how regulation and technological change influence global trade flows and corporate decision-making.

He said conventional classifications of economies often obscure important structural differences, noting that the term emerging markets groups together countries with widely divergent industrial bases. Economies that depend heavily on manufacturing exports rely critically on market access and trade integration and therefore face stronger competitive pressures from Chinese exports that are increasingly shifting toward alternative markets.

Saudi Arabia, by contrast, exports extensively while facing limited direct competition from China in its primary export commodity, a situation that creates a strategic opportunity. The current environment allows the Kingdom to obtain imports from China at lower cost and access a broader range of goods that previously flowed largely toward the United States market.

Addressing how emerging economies should respond to dumping pressures and rising competition, Antràs said countries should minimize protectionist tendencies and instead position themselves as committed participants in the multilateral trading system, allowing foreign producers to access domestic markets while encouraging domestic firms to expand internationally.

He noted that although Chinese dumping presents concerns for countries with manufacturing sectors that compete directly with Chinese production, the risk is lower for Saudi Arabia because it does not maintain a large manufacturing base that overlaps directly with Chinese exports. Lower-cost imports could benefit Saudi consumers, while targeted policy tools such as credit programs, subsidies, and support for firms seeking to redesign and upgrade business models represent more effective responses than broad protectionist measures.

Globalization has not ended

Antràs said globalization continues but through more complex structures, with trade agreements increasingly negotiated through diverse arrangements rather than relying primarily on multilateral negotiations. Trade deals will continue to be concluded, but they are likely to become more complex, with uncertainty remaining a defining feature of the global trading environment.

Interest rates and artificial intelligence

According to Antràs, high global interest rates, combined with the additional risk premiums faced by emerging markets, are constraining investment, particularly in sectors that require export financing, capital expenditure, and continuous quality upgrading.

However, he noted that elevated interest rates partly reflect expectations of stronger long-term growth driven by artificial intelligence and broader technological transformation.

He also said if those growth expectations materialize, productivity gains could enable small and medium-sized enterprises to forecast demand more accurately and identify previously untapped markets, partially offsetting the negative effects of higher borrowing costs.

Employment concerns and the role of government

The Harvard professor warned that labor markets face a dual challenge stemming from intensified Chinese export competition and accelerating job automation driven by artificial intelligence, developments that could lead to significant disruptions, particularly among younger workers. He said governments must adopt proactive strategies requiring substantial fiscal resources to mitigate near-term labor-market shocks.

According to Antràs, productivity growth remains the central condition for success: if new technologies deliver the anticipated productivity gains, governments will gain the fiscal space needed to compensate affected groups and retrain the workforce, achieving a balance between addressing short-term disruptions and investing in long-term strategic gains.