The real estate wealth digitization initiative in Saudi Arabia has completed 180 million documents in 3 years

The CEO of the National Transformation Program, Tamer bin Abdullah Al-Saadoon, said that the initiative to digitize real estate wealth in Saudi Arabia is a key possibility for the real estate exchange, which has yielded many achievements, including the digitization of more than 180 million real estate documents in a period of 3 years through centralized digitization labs that work around the clock, and is considered the largest in the Middle East.

During the inauguration ceremony of the real estate exchange, Al-Saadoun added that the procedures for registering real estate wealth can be converted into fast digital procedures into papers, and the real estate emptying process can be completed in less than 60 Minutes.

He explained that the advantages of the real estate exchange are embodied in transparency, reliability, speed and flexibility, organization and accuracy, and these advantages bode well for a bright future for the real estate business sector in the kingdom.

For his part, Minister of Justice Walid al-Samani said at the launch ceremony of the real estate exchange that the launch of the real estate exchange is a new start for the real estate documentation and trading sector, which is an extension of the digital transformation witnessed by the kingdom in all fields.

It is noteworthy that in November 2021, the Ministry of Justice launched the real estate exchange on a trial basis and included direct deals, real estate offers, new deals, mortgages, inquiries about Sukuk and updating the real estate instrument.