RIYADH: In a significant development, the Saudi Ministry of Justice’s recently launched real estate exchange recorded SR17 billion ($4.53 billion) in transactions during its first week of operation.
Launched on Aug. 28, the platform aims to simplify real estate deals and offer e-services for property owners and buyers.
Within this inaugural week, a total of 17,000 transactions were conducted, covering approximately 61 million sq. meters of real estate across diverse regions in the Kingdom, the Saudi Press Agency reported.
The real estate exchange is part of the Real Estate Wealth Digitization initiative, a ministry project under Saudi Arabia’s National Transformation Program.
In its initial week, the real estate exchange served over 500,000 visitors, illustrating its rapid impact on the Kingdom’s real estate sector.
