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Real estate documentation increased by 62% in Saudi Arabia

Real estate documentation increased by 62% in Saudi Arabia

Real estate documentation operations recorded an increase of 62% this year compared to last year, and its operations exceeded 2.15 million operations.

The real estate documentation processes varied between transferring ownership, sorting, updating paper documents to electronic ones, and registering real estate ownership.

Among the documentation processes also are grants, data modification, merging of instruments, mortgaging and releasing real estate mortgages, and other services that are implemented electronically to speed up the service of the beneficiaries.

The Ministry of Justice has enabled beneficiaries, through the Najiz. an electronic justice services portal, to access all real estate services, including the electronic real estate emptying service, updating the deeds, verifying the real estate deed, and viewing the real estate owned by the beneficiary.

With the economic acceleration in Saudi Arabia, real estate development appears as a promising sector, which is expected to achieve significant growth during the coming period .at the same time the Ministry of Housing is working to develop large housing projects distributed over the regions of the country.

Real estate development constitutes the cornerstone of development, from conducting studies to building designs, achieving the added value of the land and its optimal use that achieves a successful return.

This makes real estate development one of the most important forms of support for other sectors such as tourism, health, investment, and the financial sector.

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