RIYADH: Almost 79,000 property e-conveyancing transactions have been processed since the launch of the Najiz.sa service in March 2020, the Saudi Ministry of Justice announced.
The total value of the transactions exceeds SR11 billion ($2.9 billion).
“The service is available through the Najiz.sa portal at ept.moj.gov.sa,” the ministry said.
“The upper limit for the e-conveyance of property has been raised from SR3 million to SR20 million.”
The service has been streamlined to enable electronic agreement on sale terms without a notary’s certification, so that the operation can be completed in less than one hour.
It had also enabled digital verification of bank accounts and payment of property transaction tax.
As part of several reforms and development initiatives, the Ministry of Justice is working on enhancing digitization and providing innovative tech solutions that facilitate services, simplify procedures and boost security.
“In cooperation with the Saudi Central Bank, the ministry made it available through 17 local and international banks,” the statement said.
