Justice Minister Walid Al-Samaani has officially launched the “Real Estate Market” platform in Riyadh. This platform is designed to simplify real estate transactions and offer a range of electronic services to property owners and buyers. The event was attended by Abdullah Al-Swaha, the Minister of Communications and Information Technology.
The primary goal of the platform is to enhance the customer experience and promote transparency and reliability within the real estate sector, according to the Justice Ministry. It is part of the broader Real Estate Wealth Digitization initiative, which is one of the projects within the national transformation program.
Working in collaboration with the Ministry of Municipal and Rural Affairs and the Saudi Central Bank, the platform provides users with access to accurate information about real estate transaction values in their chosen geographical area. It also allows users to manage their property portfolios and carry out activities such as dividing and merging title deeds.
To access the platform, users are required to visit srem.moj.gov.sa, input their personal ID number, and enter a verification code received through the Nafath app. Once logged in, users can choose to utilize the platform for their personal needs or act as agents on behalf of others.
The platform offers various real estate trading services, including “special transactions” between specific sellers and buyers, “real estate gifts” to specific recipients, and “open transactions” without a predetermined buyer. Additionally, users can explore and bid on real estate listings categorized into three groups: offered, available, and in-demand.
