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Eye of Dubai
Business & Money | Sunday 18 February, 2024 8:16 am |
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Real Estate Registry seen to register 80% of real estate by 2028: CEO

Mohammad Al-Sulaiman, CEO of the National Real Estate Registration Services Co. (Real Estate Registry - RER), said 2024 will be a distinguished year for the real estate registry, Al Eqtisadiah newspaper reported.
 

 

He pointed out that 80% of the Kingdom's real estate will likely be registered by 2028.
 

 

Al-Sulaiman further said 2023 was the first year for the real estate registry in Saudi Arabia, and it was special, as the registry started operations during this year.
 

 

A total of 5,000 units have been registered since the launch of the program until the end of 2023, the CEO said, adding 350,000 units are targeted. 
 

 

Al-Falah neighborhood in Riyadh was the first area to benefit from the real estate registry, and it was chosen as per the approved criteria.
 

 

After the platform achieved remarkable success, seven areas were announced to benefit from registration in Riyadh, namely Al-Ghadeer, Al Nafal, Al Wadi, Al Muruj, Almasiaf, Al Taawun, and Al Izdihar.

 

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