Saudi Arabia launches new real estate platform
The move aims to bolster the property market in the Kingdom…
Saudi Arabia’s Ministry of Justice (MoJ) has announced the launch of a new real estate platform to further enhance the Kingdom’s property market.
Unveiled on Sunday August 27, the new real estate platform will offer an array of digital services for those looking to buy and sell property across Saudi Arabia.
Saudi Justice Minister Walid Al-Samaani inaugurated the platform, which will ‘enhance customer experience and achieve transparency and reliability’ in the real estate market, according to a statement. Through the new real estate platform, users will be able to see the latest real estate transactions – and their value – in any selected location. They can also manage their own property portfolio, and undertake subdivisions and mergers of title deeds.
Additional services available on the real estate platform include being able to initiative ‘special transactions’ between buyers and sellers, provide a ‘real estate gift’ to a chosen recipient, and open transacation without a predetermined buyer.
Users can also browse listings and make offers on properties, which are classified into three categories: offered, available and in-demand.
“It is part of the Real Estate Wealth Digitization initiative, which is one of the ministry’s projects under the national transformation program,” the Justice Minister explained.
How to access the real estate platform
First, visit srem.moj.gov.sa. Then, you’ll need to enter a personal ID number, after which you’ll receive a verification code received on the Nafath app.
After logging in, you can either operate as an individual user, or as an agent acting on behalf of someone else.