Riyadh – A key component of Saudi Arabia’s Vision 2030 plan to diversify its economy is the modernization of its real estate sector. As part of this push, the Saudi Real Estate Exchange, launched in August 2023 after a 2021 trial period, is set to transfer operational oversight from the Ministry of Justice to the General real Estate Authority before the end of January. The move aims to consolidate expertise and ensure continued, uninterrupted services for users of the rapidly growing exchange [[1]].
شعار البورصة العقارية
Saudi Arabia’s Real Estate Exchange is expected to move from the Ministry of Justice to the General Real Estate Authority by the end of January, according to a source with knowledge of the matter.
The transfer aims to leverage the expertise of current Real Estate Exchange employees working within the Ministry of Justice, ensuring a smooth transition and uninterrupted service for users.
The Ministry of Justice launched the Saudi Real Estate Exchange in August 2023, following a trial period that began in November 2021, according to data available from أرقام.
The exchange facilitates the buying and selling of properties, along with services such as property identification merging, deed updates, and mortgage-related services.
This move underscores the Saudi government’s ongoing efforts to streamline and modernize its real estate sector.
