Saudi Arabia has taken a step forward in the real estate sector with the launch of the Real Estate Registry (RER) Platform. This innovative digital platform offers a range of services for the first time in one location. These include adding real estate rights and obligations and registering mortgages.
The RER platform was introduced by Majid Al-Hogail, the Minister of Municipal and Rural Affairs and Housing, during the summit. The event aimed to boost investment in the Kingdom and increase awareness about the real estate market in Saudi Arabia. Representatives from the National Real Estate Registration Services Company were also present at the summit.
Dr. Mohammad Al Suleiman, CEO of RER, expressed pride and satisfaction with the launch of the platform. He stated that the RER platform marks a new phase in line with their future vision of creating a credible and transparent real estate sector.
Al Suleiman further explained that the platform would serve as a central hub for all real estate transactions, providing a secure and reliable environment for efficiently completing all real estate dealings. The platform is designed to offer quick and effective access to crucial information about real estate and transactions. It aims to strengthen the sector with digital solutions through a data bank that assists investors, owners, brokers, and real estate developers.
This initiative is expected to revolutionize the real estate sector in Saudi Arabia, making transactions more efficient and transparent, and potentially attracting more investments into the Kingdom’s property market.