Arab News, Monday, Sep 12, 2022 | Safar 16, 1444
190k benefited from Saudi Arabia’s real estate e-transactions
Saudi Arabia:
Around 190,000 people benefited from the
property e-conveyancing transactions service since its launch, the Saudi
Ministry of Justice announced on Sunday.
“The service is available through the Najiz.sa
portal at ept.moj.gov.sa,” the ministry said.
“The upper limit for the e-conveyance of the
property is from SR3 million ($798,333) to SR20 million.”
The service has been streamlined to enable
electronic agreement on sale terms without a notary’s certificate, so that the
operation can be completed in less than one hour.
It also enables digital verification of bank
accounts and payment of property transaction tax.
As part of several reforms and development
initiatives, the Ministry of Justice is working on enhancing digitization and
providing innovative tech solutions that facilitate services, simplify
procedures and boost security.
“In cooperation with the Saudi Central Bank, the
ministry made it available through 17 local and international banks,” the
statement said.
Recently, the Ministry of Justice announced that
Najiz portal has so far provided 140 electronic services, making it easier for
beneficiaries to complete their transactions remotely.
Since the beginning of 2022, Najiz registered more
than 36 million operations of judicial nature, benefitting 7.3 million
individuals.