Saudi Arabia plans to move real estate transactions onto digital platform

Buildings are seen in Riyadh, Saudi Arabia where efforts are being made to modernize the real estate sector. (Reuters)

• 10 million documents already digitized
• Part of broader push to modernize sector

DUBAI: A planned digital platform will allow properties to be bought and sold in Saudi Arabia, Saudi Minister of Justice, Walid Al-Samaani told Al Saudiya Channel, on Tuesday, Al Arabiya reported.
It would give investors peace of mind by guaranteeing the accuracy of information about the properties being transacted.
He added that some 10 million real estate ownership documents out of an estimated 100 million had already been digitized as part of the process.
Modernizing the real estate sector is a key part of the Kingdom’s efforts to diversify its economy.