Saudi justice minister launches platform for transparent real estate transactions

Justice Minister Walid Al-Samaani. (SPA)

RIYADH: Justice Minister Walid Al-Samaani inaugurated the “Real Estate Market” platform in Riyadh to facilitate real estate transactions and provide various e-services for property owners and buyers.
Abdullah Al-Swaha, communications and IT minister, was also in attendance at the event.
The platform aims to enhance customer experience and achieve transparency and reliability in the real estate sector, the Justice Ministry said.
“It is part of the Real Estate Wealth Digitization initiative, which is one of the ministry’s projects under the national transformation program,” a ministry statement said.
The platform, in cooperation with the Ministry of Municipal and Rural Affairs and the Saudi Central Bank,  enables users to access reliable information about the value of real estate transactions in any geographical area they choose. It also enables them to manage their property portfolio, and perform divisions and mergers of title deeds.
To access the platform, users need to visit srem.moj.gov.sa, enter their personal ID number and a verification code received on the Nafath app. After logging in, they can select whether to use the platform for themselves or as agents for others.
The platform offers various real estate trading services, such as “special transaction” between a specific seller and buyer, “real estate gift” to a specific recipient, and “open transaction” without a predetermined buyer. It also allows users to browse and bid for real estate offers, which are classified in three categories: offered, available, and in-demand.