Saudi Arabia has marked a significant milestone by becoming the first nation in the Middle East to launch a specialized real estate stock exchange. This groundbreaking initiative is geared towards providing a comprehensive array of real estate services related to purchase, sale, mortgage, and real estate financing operations across various cities within the Kingdom. The Saudi Stock Exchange, at its core, serves as a pivotal platform for managing real estate assets and wealth, streamlining operations within the real estate market.
The establishment of the real estate stock exchange is of high importance in the Kingdom. It will assume a central role in overseeing market operations, mitigating the risk of manipulation, exploitation, and arbitrary price hikes without proper oversight. Functioning as an integrated platform, it ensures transparency by electronically managing real estate wealth around the clock.
This visionary project builds upon a previous endeavour to digitize approximately 180 million real estate documents within Saudi Arabia. The overarching goal is to facilitate diverse real estate transactions by documenting them in a manner that safeguards the long-term rights of customers. This digital transformation empowers individuals to conduct real estate trading operations swiftly and efficiently, characterized by transparency and reliability.
The Saudi Stock Exchange goes beyond mere digitization; it provides daily indicators of real estate transaction values across cities and regions of the Kingdom. Users can also avail themselves of services such as inquiring about the history of a specific property and tracing its buying and selling transactions since its initial registration. Utilizing the Saudi riyal as the benchmark for evaluating prices and square meters for assessing areas, the stock exchange furnishes valuable insights, including the value of one square meter and the most sought-after Saudi areas.
Among the services offered by the Saudi Real Estate Exchange are "direct transactions," encompassing sales, purchases, and rentals conducted directly through the platform. The "listing real estate" service allows property owners to showcase their assets to a broad audience of potential buyers. Additionally, the exchange provides the "issuing legal documents" service, enabling individuals and companies to generate papers and transactions, documented via real estate ID. These services collectively aim to simplify the management of real estate affairs, offering a comprehensive and efficient platform for various stakeholders in the real estate sector.
