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  • Ahmed Saleh

Ministry of Justice reports significant increase in Real Estate Market platform usage

Riyadh, February 1, 2024, A recent report from the Ministry of Justice (MoJ) has highlighted a remarkable surge in the utilization of the Real Estate Market platform. Boasting over one million registered users, the platform has witnessed a daily user count exceeding 30,000 on average. Notably, the average number of daily transactions processed through the platform has risen to 2,000, with a cumulative daily transaction value surpassing SAR 1 billion (equivalent to nearly $270 million).

The MoJ emphasized that the Real Estate Market platform plays a pivotal role in augmenting the investment environment within Saudi Arabia. Furthermore, it significantly contributes to fostering transparency in real estate transactions and enhancing the governance of notarial procedures associated with property transactions.

Designed to meet diverse real estate needs, the platform provides a comprehensive range of services. These include facilitating the buying and selling of real property, aiding in the subdivision and merging of properties under a unified real estate identity, and offering services related to mortgages. The platform also plays a crucial role in digitizing property ownership documents, thereby enhancing accessibility and security in the process. Users benefit from a secure and comprehensive digital interface that provides tools for real estate indicators and inquiries.

In essence, the Real Estate Market platform stands as a cornerstone in advancing the real estate sector in Saudi Arabia, providing users with efficient and transparent tools to navigate various aspects of property transactions.

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