Bayut Saudi Arabia, the Kingdom’s fastest growing real estate portal, a part of the Arab world’s sole homegrown tech unicorn Emerging Markets Property Group, has recently launched an initiative to allow individual property owners across the Kingdom to list their properties for free on the portal for a limited period.
Through this initiative, property owners will have direct access to Bayut’s sophisticated real estate solutions and cutting-edge technologies, using which they can enjoy more visibility and exposure and convert more prospects into buyers.
The Saudi real estate sector has proven to be a key driver for economic growth despite the uncertainty in the markets due to the pandemic.
Haroon Rashid, CEO of Bayut Saudi Arabia
Since launching in 2019, Bayut Saudi Arabia has strived to support the digital transformation framework of Saudi Vision 2030 by providing locally relevant solutions to cater to the country’s real estate needs. Bayut has successfully grown to become the preferred real estate portal that connects real estate agencies, tenants, homeowners in a seamless, user-friendly manner with advanced PropTech (property technology) solutions to support the growth of real estate in the Kingdom.
FASTFACT
Residential sales volumes in Saudi Arabia have increased to pre-COVID-19 levels with 115,000 transactions between January and May 2021 reaching their highest level for five years.
Recent industry reports have suggested that residential sales volumes in Saudi Arabia have increased to pre-COVID-19 levels with 115,000 transactions between January and May 2021 reaching their highest level in five years. This positive recovery has also led to more demand from interested buyers. The current homeownership level among Saudi nationals has increased to an impressive 60 percent as a result of this boom and is expected to go up to 70 percent by 2030.
CEO of Bayut Saudi Arabia Haroon Rashid said: “The Saudi real estate sector has proven to be a key driver for economic growth despite the uncertainty in the markets due to the pandemic. At Bayut Saudi Arabia, we have remained committed to supporting the industry by extending our offerings to individual property owners free-of-charge. Home sellers can now enjoy enhanced visibility of their listings and connect with more interested property seekers.”
The real estate sector in the Kingdom is facing an extraordinary boom and we are excited to be at the center of this innovation providing world-class user experience and cutting-edge tech solutions for all users in the spectrum.”
