REGA in Saudi Arabia has introduced a groundbreaking new real estate registry system aimed at bolstering the reliability and transparency of the Kingdom's property market. This innovative system assigns a unique identification number to each individual property, streamlining transactions such as buying, selling, and leasing.

Since its launch in May 2023, the registry has issued over 350,000 new property deeds and corrected more than 1.3 million property maps. This has significantly accelerated transactions and contributed to sustainable development by providing a more accurate and up-to-date record of property ownership.

Key features and benefits of the new system include:

• Comprehensive coverage: All types of properties, including residential, commercial, agricultural, industrial, and government properties, are included.
• Enhanced accuracy: Detailed property information, including ownership, rights, obligations, and spatial data, is recorded and linked to a unique property number.
• Increased efficiency: The system streamlines processes and reduces paperwork, making transactions faster and easier.
• Greater transparency: The registry provides a clear and accessible record of property ownership and transactions, boosting investor confidence.

REGA is committed to further developing the real estate sector through this new system by:

• Strengthening regulations: Implementing a robust regulatory framework to protect property rights and ensure fair market practices.
• Leveraging technology: Utilizing advanced technologies such as geospatial data and artificial intelligence to improve accuracy and efficiency.
• Promoting partnerships: Collaborating with the public and private sectors to foster innovation and growth in the real estate market.

By introducing this comprehensive and digitalized real estate registry, Saudi Arabia is positioning itself as a leader in property market transparency and efficiency, attracting both domestic and foreign investors.