KSA Business: Saudi real estate authority sees 96,967 registered properties – Gulf Digital News

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Saudi Arabia’s Real Estate General Authority has announced significant strides in its property unit division and technological advancements through its Mullak electronic platform.

The organisation achieved a notable milestone during 2023 by registering over 96,967 property units across the kingdom, covering a cumulative area exceeding 30 million sqm.

Buy/sell, rent/lease residential &
commercials real estate properties.

This sorting activity, driven by nearly 13,000 requests received via the authority’s electronic platform, demonstrates growth and activity in the region’s developing real estate market, according to a report by the body.

Riyadh led these efforts with approximately 29,288 property units, followed by Jeddah with about 28,278, and Mecca with more than 7,300, highlighting the widespread development across key cities.

Complementing these physical expansions, the Mullak electronic platform, dedicated to supporting occupants of real estate units with shared ownership, has reached a landmark by registering over 1m activities and services.

This application facilitates the creation of owners’ associations, essential for managing shared facilities and spaces such as entrances and elevators, thereby promoting efficient usage and a culture of communal living.

The operations encompassed various functions, including managing associations, billing and renewing certificates, catering to the needs of more than 126,000 members in 36,000 owners’ associations, and covering over 160,000 units.

The platform’s growth is further evidenced by the addition of over 28,000 new members in 2023, joining approximately 9,100 owners’ associations.

Moreover, the authority has successfully merged services with the Human Resources and Social Development Ministry, issuing more than 470 unified national numbers since mid-year.

This integration has facilitated legal and administrative processes for the associations, enabling them to access government and service entity facilities seamlessly.

The application has also significantly aided in financial resource management for the organisations, including bank account operations and contracts with property managers, thus streamlining the entity’s overall efficiency.

Furthermore, Saudi Arabia’s property rental service, Ejar, has recorded over 8m lease contracts since its launch in February 2018.

The platform registered 6.6m residential and over 1.3m commercial agreements on the electronic rental service network connected to the Sakani platform.

Documented rentals in 2023, the highest record year, exceeded 2.8m contracts, with the greatest daily rate of documentation reaching 18,000 in a single day.

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